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Should we retire assets in old books (MH GB Corp) before period close

in Expenses 1 comment

Summary:

We are changing the primary functional currency of the UK Ledger from GBP to USD to meet the audit requirements.
As part of this activity, we are converting assets from old book (MH GB Corp) to MH UK Corp.
We are planning to GO live April 1, 2026. The FA conversion plan is listed below. Please let me know if this is the best practice to perform this cutover requirement.

  • Extract data from OLD Book (MH GB Corp) on March 31, 2026, after the FA period is closed
  • Convert assets into Oracle SaaS New Book (MH UK Corp) on April 1, 2026
  • Execute Create accounting and push Journal Entry to the GL to Debit Asset Cost accounts & Credit Asset Clearing Accounts.
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