If the procedure to convert Xero to Quickbooks bring you to this post then you will not receive disappointment. As we are bringing you all the learning paths through which you can attain it smoothly. So, read this full guide and get to know the ways of conversion.
In this guide, we not only provide the steps but all the things that you should know before converting the files and data. During conversion, the user mostly gets the question of whether the recorded transactions will become part of the new file or not. There is the answer to this question as well. Now, let us move into the guide to know more about the conversion process. But, first, learn about both of the software in order to have a proper conversion with the proper knowledge.
A Brief about Xero and Quickbooks
Xero is accounting software for small businesses. It manages and keeps the tracks of the accounting tasks. As it is a cloud-based tool so you can easily access it anytime from anywhere. In addition to this, it is mobile responsive too. As a matter of fact and to receive the complete knowledge, let’s move into the features list.
Features of Xero
- Track projects
- Bank connections
- Accept payments
- Pay bills
- Claim expenses
- Capture data
- Purchase orders
- Bank reconciliation
- Send invoices
- Purchase orders
- Sales tax
- Multi-currency accounting
Quickbooks is yet another and widely preferred accounting software. It can also be accessed through a cloud-based interface. It consists of various users friendly features that demand less human interaction. Moreover, a non-professional also prefers it for tracking day-to-day expenses.
Features of Quickbooks
- Mileage Tracker
- Create Invoices
- Manage 1099 contracts
- Organize and capture the reports
- Track sales and calculate sales tax
- Join business bank account
- Download Quickbooks mobile app
- Accept online payments
- Run balance sheets
- Integrate with other Quickbooks and third-party tools
- Printing checks
- Create reports
- Send invoices
- Differentiate transaction into tax categories
- Calculate sales tax.
We hope that this feature list enlightens you with the two programs. Surely, you will be now more confident about the nature of the software that keeps the good work.
Now, let’s move into the next section that covers a few points to consider before attempting the conversion from Xero to Quickbooks.
Points to Consider
- The first and foremost thing that you need to do before proceeding with the conversion task is to save a copy of the balance sheet and income statement of all dates of your business book.
- Try to create a backup for detailed account payable reports and account receivable.
- Moreover, Lock the Xero file for a date before conversion, to avoid the changes done by someone else after you begin the conversion.
You may also like: Convert Quicken to QuickBooks: A Comprehensive Guide
Steps to Convert Xero to Quickbooks Online
Considering that you have received a lot of knowledge before proceeding with the task. Now let’s jumps into the step-by-step guide to convert Xero to Quickbooks.
Step 1: Convert Xero Chart of Account
In this step, you need to move to Quickbooks online and to export and spot the Xero Chart of account (COA). With the help of the steps given below, you will have the result.
- First of all, launch the Xero on the device.
- Then visit the setting option and select the Chart of Accounts.
- Subsequently, tap on the export option that will download the comma-separated value (CSV) on the system.
- Now open the CSV file with Excel or any spreadsheet program to edit it.
- Once the export is completed, you need to wait till the transaction has been imported then pack up the Quickbooks online slightly.
Step 2: Import Vendors and Customers into QBO
Now it’s time to import the vendors and customers into QBO that does not need any kind of further operation, you just have to navigate to the customer and vendors list in Xero that is contained under contacts. Without any kinds of specific distinction, import the whole list from Xero to Quickbooks and modify the changes according to your requirement.
Step 3: Important Products and Repair
After performing the above steps, now you need to bring in the products and services to the QBO. Once you are done with the importing process, there require some changes and modifications within the export file format as the Xero files format doesn’t go parallel with QBO’s format. So, just include the checkmark in the tab named buy, sell and track.
Step 4: Import Invoice and Bill Transaction
At this time, import invoices and bill transactions to the QBO from Xero. Through the third-party program, you can easily transfer these data and you can import up to 500 invoices or bills at a time to QBO.
Step 5: Import payroll and Bank Transaction
Subsequently, don’t forget to import payroll and bank transactions at this step and transfer all the relevant data associated with them.
Step 6: Verify Result
Finally, you need to vary the conversion result by comparing the balance sheet and profit and loss reports for all dates. After verifying the result there still left some items to include in the QBO such as bank feed connection set up, third-party apps connection, and customization of forms. So, make sure to set up these things also.
Well, this is all about the guide where you get not only the conversion steps but also a quick glimpse of Quickbooks and Xero. How they are similar and different from each other. Hopefully, you find this article relevant and knowledgeable. It should be noted to consult with an expert first before proceeding with the conversion process.