Excel to QuickBooks Online Conversion
If you are using Quickbooks, it is likely that at some point or another you will need to convert your data from excel to Quickbooks. Converting your excel files into QBO format can be a time consuming task if done manually. This leaves many businesses in the dark about their accounting information.
There are many reasons why it is a good idea to move from excel to Quickbooks for accounting. Quickbooks is a more sophisticated program that can provide your business with a variety of features that excel cannot. Quickbooks offers features such as invoicing, tracking expenses, and creating reports. These features can help you keep track of your business' financial information and make better business decisions.
If you are currently using Excel and thinking about trying out Quickbooks online, then you will need an excel to quickbooks online converter in order to do so. Converting files manually can be very time consuming, especially when it comes to larger excel documents.
The good news is that there is an easier way! MMC Convert will do the conversion for you quickly and easily. No more copy-paste, no more manual data entry. Simply provide the csv file or the excel file and let us convert it for you.
right now to learn more about our services or contact us today!
- Chart of Accounts(We do custom mapping as well)
- Customer Details
- Supplier Details
- Opening Account Balances
- Aged Receivables
- Aged Payables
- Bank Transactions (Includes Invoice payments, Bill payments, and other Bank Transactions) (All Bank Transactions reconciled as it was shown in EXCEL)
- Credit Card (converted as QBO Bank Accounts)
- Invoices and Credit Notes Detailed
- Bills and Bill credit Detailed
- All Manual Journals
- Inactive Contacts/Accounts can be brought over on special request
- The entire conversion and matching of Reports are done on ACCRUAL Basis.
- We make our best attempt to give you the exact image of your EXCEL data, however, due to the limitations of few fields which are different in EXCEL and QBO, we might have to use some workarounds to bring the transactions.
- Expense Claims
- Tracked Inventory
- Payment Terms
- Deleted/Void Transactions
- Transaction lines with Nil Values
- Individual Pay Runs for the conversion period
- Sales Rep
- Customer Jobs
- Unreconciled Transactions
- Allocation of Invoices or Bills against credit notes
- We are specialist in converting core financial information and we try our best to bring the other non-financial information as well, however, because of the limitation of information, we might not be able to get few fields.
- Chart of Accounts - Sub Accounts in EXCEL are converted as Independent Accounts in QBO
- Chart of Accounts - Inactive Accounts, if used in EXCEL in the conversion period are turned as Active Accounts in QBO
- Open Receivable and Payable Invoices shall contain only single line showing the unpaid balance of Invoice in QBO
- Custom Sales Tax Rates are converted into standard Sales Tax Rate with "Tax Adjustment" entry as a separate line item in QBO
- Inter Bank Transfers may be converted through a Clearing Account in QBO
- System Accounts like Retained Earnings, VAT control Account are used in QBO for their counterpart accounts in EXCEL.
- We bring inventory details like name, code, description, sales account, purchase account, sales price, purchase price etc. Since we don’t do tracked inventory, as part of the migration, we import all the items as "non-inventory" type in QBO and after the completion of the migration, you need to manually change the type from 'Non-Inventory' to 'Inventory' and add the quantity on hand manually for each item
- In multi-currency files, while feeding the opening balances on the conversion date, QBO would use the same exchange rate for the conversion date for all the multi-currency accounts. This might cause a difference in the debit and credit side of the trial balance.
- Rounding can be different in QBO and EXCEL because of the data precision techniques used in both of them.
- Blank Bill reference Numbers and Invoice reference Numbers:- In case we find any invoice or bill without a number, we use a dummy number example for Bills:- Bill1, Bill2 and for Invoices - Inv1, Inv2.
- Duplicate reference Number in bank transactions or invoices/bills:- In case we find duplicate reference numbers then we use transaction numbers instead of reference numbers or make the numbers unique by appending an extra character with a hyphen
- Limitation of Reference number:- QBO have limitations of 20 characters for Reference number thus for the reference numbers more than 20 characters we have to trim them to 20 characters.
- As we work with the general ledger, We use FIFO method to apply payments on invoices and bills, so the year end account receivable and payable reports shall match, however, monthwise AR AP reports might not match
- Multi-Currency Transactions (brought over in same currency as they were fed in EXCEL, same exchange rate as it was fed in EXCEL)
- Total Accounts Receivable in QBO shall not exactly match the Total Accounts Receivable in EXCEL because of the different exchange rates used in QBO
- Total Accounts Payable in QBO shall not exactly match the Total Accounts Payable in EXCEL because of the different exchange rates used in QBO.