How do I migrate my LRBA Accounts to the 85500/InvestmentCode Account.
Complete the steps below PRE MIGRATION.
Simple Fund 360 will migrate Liability accounts to the 85500 account range when TWO prerequisites have been actioned in Simple Fund Desktop before migration.
- Ensure the LRBA Account in Simple Fund Desktop is setup between Account Code Range 800 - 899
From the Chart of Accounts in Simple Fund Desktop Set the Account Type as BANK
When a fund has already been migrated and you wish to Re-Migrate the fund you will need to perform the following:
- Delete the Fund from Simple Fund 360.
- Make changes to Chart of Accounts in Simple Fund Desktop.
- Re-Migrate Fund.
Alternative - Journal Transfer
A Journal Entry from the Transaction List can be entered into Simple Fund 360 transferring the full amount from the Current Liability Account to a newly created account under the 85500 range.
Once this has been completed you will need to mark the old account as Inactive in the chart of accounts.
Please note: This process will have limitations on the account history.