QuickBooks has some features that are not supported by Xero so the companies transfer data from Xero to QuickBooks or migrate from Xero to QuickBooks. In this article, we will know about the QuickBooks Xero integration procedure and will know the advantages behind the integration. You can call this toll-free number +1-844-405-0904 for further assistance.
QuickBooks manages all business accounting workflow, while Xero works as a leading software for small-sized companies which provides analytics for the company’s finances by supporting instant currency conversions. Both software has their features, when we migrate the software together, we found a lot of benefits that help us to work smartly. Let us check, how to do it, and what are the advantages of integrating both apps.
Guidelines: Which Xero data would be transferred and which are not from Xero to Quickbooks
Xero, QuickBooks, and Zero are three popular cloud-based accounting software programs used by businesses to manage their financial transactions. If you are considering migrating data from Xero to QuickBooks then before migrating data from Xero to QuickBooks you should know what data should migrate and what not.
Xero Data that would be transferred
- Opening Account balance can be migrated.
- Chart of accounts: This includes all accounts that you use to track your income, expenses, assets, and liabilities.
- Customers and suppliers: This includes contact information, payment terms, and historical transactions.
- Products and services: This includes a list of products and services that you sell, along with their prices.
- Invoices and bills: This includes a record of all the invoices and bills that you have sent or received, along with their payment status.
- Bank transactions: This includes a record of all the transactions that you have made through your bank account, such as deposits, withdrawals, and transfers.
- Credit card transactions: This includes a record of all the transactions that you have made through your credit cards, such as purchases, refunds, and payments.
- Payroll data: This includes information related to employee salaries, wages, taxes, and benefits
- Receivables and Payables
- Invoice and Credit notes.
- Manual Journals Inactive contacts and accounts.
- Bills and bills credited.
It is important to ensure that the data is accurate and complete before migrating it to a new system. It is also recommended that you seek professional assistance to help you with the migration process.
Xero Data that would not be transferred
There may be some Xero data that cannot be migrated directly from Xero to QuickBooks due to differences in the data structures and formats used by the two accounting software. Here are some examples of data that may not be directly transferable:
- No-posting entries.
- Employ List and Term List
- Assembly Builds
- Historical data: Depending on the version of QuickBooks you are migrating to, you may not be able to import all of your historical Xero data into QuickBooks. For example, if you are moving to a new version of QuickBooks that does not support importing data from Xero, you may need to manually enter some of your historical data into QuickBooks.
- Custom fields: If you have custom fields set up in Xero that do not exist in QuickBooks, you may need to manually recreate those fields in QuickBooks and re-enter the data.
- Non-standard accounts: If you have accounts set up in Xero that are not standard in QuickBooks, such as tracking categories or custom tax codes, you may need to manually set up those accounts in QuickBooks and re-enter the data.
- Transactions with unsupported features: If you have transactions in Xero that use features that are not supported in QuickBooks, such as payroll or multicurrency transactions, you may need to manually recreate those transactions in QuickBooks.
- Invoice templates.
- Payrolls record and sales order.
How to Integrate Xero to QuickBooks
Here are the steps listed to transfer data from Xero to QuickBooks. Let’s see how to connect Xero to QuickBooks.
Step 1: Exporting Data From Xero to CSV File
Go through the procedure given below for exporting data from Xero to a CSV file.
- Login to your Xero account.
- In the navigation bar, go to the Accounting section and select the Advanced option.
- Under the Advanced Setting option, click on Chart of Accounts.
- Charts of Accounts data of your company will open.
- Click on the Export button to export Xero data into CSV file format.
- This will download the CSV file having Chart of Accounts data to your local system.
Step 2: Formatting the CSV File
Here is the procedure for formatting CSV files:
- Open the Chart of Account data in any spreadsheet software.
- Make sure you have columns with names listed below:
- Account Name
- Detail Type
- Add Account Number.
- And then a column named “Account Name” if your data has sub-accounts.
- Click on Save.
Step 3: Uploading CSV File to QuickBooks
Go to the next step for uploading the CSV file to QuickBooks. Here is the procedure:
- Login to your QuickBooks account.
- Go to the Setting option and select the Import Data option.
- Select the data you want to import, that is the Chart of Accounts option.
- Click on the Browse button and select the Open option.
- Upload of the CSV file will prompt. Now locate the file where you saved it in your local system, after formatting and then upload it.
- Click Next.
Step 4: Mapping the Data with QuickBooks
This is the final step for transferring data from Xero to QuickBooks.
- Go to Your Field column and click on the small down arrow.
- Match the column names of data to the QuickBooks format for the fields listed below:
- Detail Type
- Account Name
- Account number
- Click on Next after mapping the data.
- Fix the red highlighted fields and click on the Import button.
Benefits of Connecting Data From Xero to QuickBooks
There are many benefits of transferring data from Xero to QuickBooks, some of which are listed below.
- Companies stay compliant with the tax office by migrating data from Xero to QuickBooks. Xero offers its service online which means unsubscribing to it without migrating data can cause data loss.
- QuickBooks manages accounting and finances for any type of business by serving a wide of products. By transferring data from Xero to QuickBooks, it becomes easy for the company to handle the toughest accounting challenge of small, medium, and enterprise-level businesses.
- You get a holistic view of data with better Reporting and Analytics tools by transferring data from Xero to QuickBooks.
In the above article, you learned the steps to transfer Chart of Accounts data from Xero to QuickBooks. You also read about how transferring data from Xero to QuickBooks helps companies get all their financial data in one place for analysis. In case if you need further assistance, directly call our certified Proadvisor for their guidance at the toll-free number +1-844-405-0904.