Table of Contents
🧠 Purpose
If you have been with Aspire for awhile now and you are wanting to integrate from SAS (Simplified Accounting Solution) to SAAS (Standard Aspire Accounting Solution), this section will cover that process, but first let's go over a brief summary of SAS and SAAS.
📌 Note: For a more detailed explanation of the differences between SAS and SAAS, see the article Understanding the Differences of SAS and SAAS Accounting Methods for more information!
Brief Summary of SAS and SAAS
SAS (Simplified Accounting Solution)
You record revenue to your P&L when you invoice for an opportunity.
Your expenses are in the month that they happen.
You do not maintain a Work in Progress (WIP) on your balance sheet.
And you do not maintain inventory on your Balance Sheet.
SAAS (Standard Aspire Accounting Solution)
You record revenue to your P&L either when you invoice or when the work is performed (earned).
You maintain inventory on your Balance Sheet, manage it in your yard and in Aspire.
Purchases are expensed in the month that they are allocated to work tickets.
You must reconcile your inventory at each month end close.
Steps to take to convert from SAS to SAAS
You must establish your initial inventory value for your beginning balance in Aspire.
At the end of the month prior to going live as SAAS, you should take a count of the inventory that you have in your yard.
Adjust the quantities in Aspire to reflect that inventory.
Add a journal entry to enter the Total Cost from the inventory allocation report in Purchasing. The journal entry will be a debit to Inventory Holding Materials and a credit to the appropriate Cost of Goods Sold accounts.
On the Accounting Sync screen in Configuration, scroll to the bottom on the page and uncheck the box Enable Inventory as Expense.
You will then enter your purchase receipts as you would normally and they will sync to your accounting system when they are approved!
At the end of the month, you can still use the Revenue Export as always, and the Expense Export will reflect the materials/costs that were allocated or received to work tickets.
After completing the journal entries, you will notice that your balance sheet Inventory Holding Material account will have a balance. You will now need to reconcile this balance sheet account at the end of each month using the Inventory Holding Reconciliation Workbook found here.
Finally, if you are also switching to Earned Revenue at this time, please attend the Over/Under Class online and the EOM Checklist Class for Tasks 36 – 47! Link to the online classes can be found here.