The Conversion Date represents the date transactions can be processed from within Infusion. This can be the date data has been transferred over from another software package. Transactions prior to this date cannot be entered. This date cannot be changed after year-end processing has been posted.

The First Month of the Financial year is required for the generation of reports and setting of Budgets.

You can also choose to allow opening journals in closed financial years, subject to lockout dates.

Default GL Accounts

When licences are created using the default Chart of Accounts the fields in this screen are automatically populated with General Ledger accounts. Ensure that the codes are correct for the business requirements.

Licences created without using the default Chart of Accounts have blank Default General Ledger Accounts and need to be updated once a chart has been created. 

Users that Migrate from an existing Infusion software package will have most of these settings populated as part of the process.

Cost Centres

For details on Cost Centres, see Enabling, adding and deactivating cost centres. 

Foreign Currency

For details on Foreign Currency, see Enabling Multi Currency/ Foreign Exchange in Infusion.