Convert from QuickBooks to Xero

1
Convert from QuickBooks to Xero
2

• If you are looking to migrate from QuickBooks, we
  can help! Here is what it entails
• -The first step is reviewing your business data
  and making sure that everything lines up
  correctly in Xero.

3

• We make certain adjustments for any errors or
  discrepancies before migrating anything over so
  as not create more problems than necessary
  (e..g., double payments).

4

• We also verify whether there are unpaid invoices
  outstanding on credit cards since these will need
  address immediately upon completing this process
  if they exist at all--we do not want anyone
  getting left hanging.

5

• The conversion process is a fragile process. If
  you are not an experienced bookkeeper, it is easy
  can create a significant mess of your business
  accounts. It is best to use this opportunity to
  have an experienced professional support you
  during this time, so you get off on the right
  foot - and get trained in every part of Xero that
  is relevant to your business.

6

• QBO Preparation Checklist
• The cleaner your file the smoother your
  conversion to Xero. The following QBO file types
  can easily be migrated to Xero, along with two
  years of transaction history, which is helpful
  for prior year analysis

7

• AccountRight Live
• AccountRight Enterprise depending on how it has
  been used (AU only)
• All other AccountRight versions
• AccountEdge
• WE DO NOT CONVERT
• QBO Online

8

• If you are currently using one of these versions
  of QBO, then we would encourage you to wait until
  the end of your financial year, and then we will
  import the opening balances for all your
  accounts. To access history, you will need to use
  your QBO (which turns to "read only" when you
  cease your subscription).

9

• What NOT to do prior to having iKeep convert your
  QBO file to Xero
• Do not start a Xero subscription. We will create
  a new Xero subscription for you. If you have
  already started a Xero subscription you can now
  close it.
• DO NOT ROLL YOUR QBO FILE. If you have already
  rolled your QBO file DO NOT ATTEMPT TO ROLL BACK
  AGAIN.
• Do NOT change any account types in QBO prior to
  conversion.

10

• Important File Preparation
• ATTENTION Please note if the Important File
  Preparation is not completed prior to upload
  additional charges may apply. If you are not
  comfortable processing the above steps, we have
  approved trainers who regularly process
  conversion and can handle this process for you.

11

• Check what data will and will not convert against
  your specific needs
• Ensure QBO is set to the correct GST accounting
  basis (cash or accrual) Go to Set up, company
  information, BAS information.
• Check how your bank accounts and credit cards are
  set up in QBO.WARNING Some banks require
  credit cards to be set up as bank accounts in
  Xero to connect bank feeds.

12

• Reconcile Accounts Receivable/Accounts Payable -
  review the AR/AP detailed reports and ensure all
  invoices/bills and credit notes are current.
  Apply all credit notes unless current.
• Ensure that Accounts Receivable, Accounts Payable
  and GST accounts do not have Account type as Bank
  Account.
• Optional File Preparation

13

• The following steps are not essential, but if you
  can complete them, it will ensure that you have
  the best possible conversion experience
• Check that the balances in all reconciled bank
  accounts and credit cards match the bank
  statements as of the last reconciliation date.
• Confirm that the Accounts Receivable/Accounts
  Payable reconciliation report balance matches the
  balance in the General Ledger.

14

• Check how non-standard tax codes are treated.
• Ensure all clearing accounts are reconciled to
  NIL.
• Ensure all bank transactions you want converted
  are coded.
• Run a verification of the QBO file (File gt Verify
  Company File). If errors occur, we can fix these
  for you under our Accelerate Package.

15

• Check that all employees have an accurate
  USI/SPIN
• Pay Superannuation to date through the QBO file
  (if applicable)
• Next steps
• Create a backup of the QBO file
• Upload the backup to us