Important Checklist before Converting QuickBooks to QuickBooks Online It is a general perception that converting from QuickBooks Desktop (QBDT, also referred to as QuickBooks) to QuickBooks Online (QBO) should be a simple process. After all, these are two brothers from the same mother. That, unfortunately, is not true! Some files and data might not transfer when you convert from QuickBooks to QuickBooks Online. Some tasks need to be performed before the conversion. And for certain things, you may need to ask for help from an expert. So, what you need to do is get familiar with these things in advance so that the conversion happens smoothly and you immediately resume the accounting activities. To help you with this, here is a checklist you need to refer to. What Won’t Convert? It would be a good idea to start by telling you what won’t convert from QuickBooks to QuickBooks Online. So, here is the list:
● Audit Trail: QBO has its own feature called Activity Log to track the things going around
● Budgets: Use QBO Plus for setting up new budgets ● Payroll: Some pieces of information related to employee payroll are not converted ● Purchase Orders: The existing ones won’t convert but you can create new ones in QBO ● Memorized Transactions: While these won’t convert, you can create Recurring Transactions with QBO Likewise, there are several other items that don’t convert during this migration. You must consult a conversion expert to know what can be done to deal with them. Important Tasks to Be Performed Before you begin with the process to migrate QuickBooks to QuickBooks Online, you must essentially perform certain checks and tasks for success. Here is another part of the checklist:
● What Must be Closed: You must close or complete the items like purchase ● ● ● ●
orders and quotes. Also, any unbilled activity must be completed or deleted. Running Payroll Report: It is recommended to run the payroll report for date compliance, specifically if you are migrating in the mid of reporting time. Check the Size: A file with the size of more than 350,000 targets won’t convert to QBO. You must condense the file size first. Clean Chart of Accounts: If there are accounts that you never used, these must be deleted before the conversion to clean the chart of accounts. Multi-currency Mode: The conversion won’t take place if the multi-currency mode is turned on. Make sure to turn it off.
Answering Some Important Questions There many things in this checklist for which you need to know the exact answer. For example:
● Is the file to be converted located in a database on a server? If yes, how many users might be accessing it? ● Are you using any external application which is connected to the file? ● Are various accounts (loan accounts, bank accounts etc.) reconciled to the current? ● Do you use inventory and inventory assemblies? For a number of these things, it is better you ask help from an expert like MMC Convert. The company has an experienced team that specializes in the process to import QuickBooks to QuickBooks Online or to any other popular accounting software of your choice.