NetCash Go-Live Process

Overview

As part of the initial setup, a user must setup the Go-Live for applicable bank accounts.

Step By Step Process:

Here is a training video that walks through the NetCash Go-Live process

• Navigate to NetCash > Setup > Go Live
• Confirm that all applicable bank accounts are presented
  • If additional bank accounts are needed, follow the instructions in the Manual Bank Connection Setup article or Automatic Bank Connection Setup article
• Select the name of the account that is ready to go-live View full size
• On the details screen, enter the following: View full size
  • Cutover Date: the date the user will begin reconciliations for that account in NetCash. No reconciliation will happen prior to this date. 
  • Initial Balance: the balance in the account according to the bank as of the Cutover Date
  • GL Account: the GL account of this bank account
  • Rounding GL Account: if a GL and bank transaction are matched but have an amount difference, that difference will be booked to this account
  • Offset GL Account:  account that will be hit when an offset transaction is created or if an auto-create rule has been set up 
• Additionally, individuals can enter segments in the segments subtab, add approvers under the reconciliation subtab, and set up segment controls under the validations subtab
• View full size
• Once all the relevant information has been entered, select the red X in the top right corner to return to the Go-Live screen
• Next, pull in the Cutover Date GL Balance by selecting the refresh button: View full size
• If there are no differences, then the user is ready to start reconciling the bank data from the cutover date forward!
• If there are differences, then cutover items are required prior to starting reconciliations

Step by Step Cutover Item Creation

• If there are differences between the bank account's initial balance and the GL balance at the cutover date, the transactions creating the difference need to be identified. 
• To create cutover items, select the carrot under the Cutover Item column: View full size
• The Cutover Item screen will automatically filter for the period prior to the cutover date and show transactions in that period that could be accounting for the difference View full size
• If the difference is caused by the items identified by the system then you can select them from the list beneath
  • Once you have selected the applicable items, select Submit View full size
    
  • The system will then create the journal entry to move the balance into the cutover period so that it can be matched, see an example of this journal entry below:  View full size
  • Additionally, you will be able to see this item under the "Created Items" tab in the Cutover Items record: View full size
  • On the Go-Live screen, the Cutover items will now be listed and the difference reduced by those Cutover items View full size
• Alternatively, there may be a need to create the transactions for items that cannot be identified in the system or the amount may need to be written off
• Once all cutover items have been created and the differences accounted for, the user is officially ready to start the bank reconciliations from the cutover date forward!