* If you need to convert to Zoho Books, SumAccountants can help you with the migration for a fee per company starting at $500/€400. Contact us now in order to have Zoho Books up and running within 3 days.
Changing an accounting system is not an easy thing to do. Do not underestimate the amount of time that the migration will require. There is not one guide on the internet describing comprehensively how to convert from QuickBooks Online (QBO) to Zoho Books. However, you can use a combination of multiple guides along with a few pointers below to help you perform the conversion. In this post, you will find links to the guides along with advice on how to use them together.
Switching Accounting Systems
9 Simple Steps to Switching Accounting Systems highlights very important items to think about before you even begin the conversion process. Pay particular attention to the three steps mentioned here:
- “Step 2 – Choose a definite cut-off date” is one key process when changing systems. It is strongly recommended that you use your accounting year end.
- “Step 7 – Decide between importing historical data or entering trial balances” is again important to think about prior to the conversion. Transferring only trial balance data is significantly quicker than importing historical data but will mean that you need to hold onto QBO for a while longer in order to comply with record keeping rules (although the data export should be sufficient to satisfy this requirement). Also, historical reports generated from Zoho Books will not accurately present data from before the trial balance data.
- “Step 8 – Final check” ensures the trial balance of the new system matches that of the old system.
Extracting Data from QBO
This is one of the most difficult parts of the migration process. QBO do not allow you to do a full csv export of accounting data. Instead, you are restricted to customizing the individual reports and exporting them to Excel.
- The US version of QBO allows customers to export all the company data to an XML file with some important limitations noted here. Xero have the capability to convert your QB data to XERO in this Convert from QuickBooks to Xero guide. The equivalent is not available for Zoho Books.
- For non-US customers, the project is a little cumbersome and patchy. It involves modifying reports in QBO so that it contains the required data. This article is a pretty good guide to customizing QBO reports. Take the following reports and customize them so that they contain all the required information that you need to enter into Zoho Books:
- Customer list
- Supplier list
- Inventory list
- General Ledger
- Outstanding creditors (including the purchase bills)
- Outstanding debtors (including sales invoices)
- Trial Balance
Entering Data into Zoho Books
Zoho’s guide Migrating to Zoho Books from your existing system is a simple guide on setting up Zoho Books when transferring your accounts from any system. Follow their instructions using the Excel data that you exported from QBO. Keep in mind that this can involve going back to QBO and reformatting the QBO reports. Also note that you should start with a blank Zoho Books organisation – do not connect it to Zoho CRM or any other applications and do not enter any other data until the migration is complete.