30% Increase in Financial Efficiency by Switching from Wave to QuickBooks Online
Project
Overview
The client, an app development company,aimed to switch from Wave to QuickBooks Online Advanced,. primarily motivated by QuickBooks’ vast ecosystem. We migrated one year of historical data from Wave to QuickBooks within two weeks.
Reason for the
Switch
The client required more advanced features that could support their business model, which included frequent and repetitive transactions. They were also looking for better integration capabilities with Stripe to streamline their payment processes.
Outcome of the
Switch
The transition to QuickBooks Online Advanced was accomplished successfully, facilitating better management of recurring transactions and enhanced integration with Stripe. The client had access to the previous accounting data before going live with QuickBooks Online.
1
Years of
Historical
data
Data Span
2100+
Recurring transactions
2
Weeks
Turnaround Time
Wave to
QuickBooks Online
Advanced
Migration
Data Transformation
- Prepared and formatted the data to align with QuickBooks Online Advanced’s specifications.
- Employed tools to map accounts and configure recurring transaction settings.
- Addressed duplicate accounts,customers, and vendors for accuracy.
Data Validation
- Verified the accuracy of all imported data,focusing on the consistency of recurring transactions.
- Matched outstanding balances and account balances between the two systems.
- Implemented regular backups to secure financial data and protect against potential data loss.
Data Export
- Extracted Lists – Customers, Vendors, Services from Wave.
- Exported transactions, including year end adjustment entries.
- Exported financial statements for post migration data validation.
Data Upload
- Using our proprietary migration tool Dancing Numbers, uploaded data to QuickBooks Online Advanced.
- Ensured proper data alignment with QuickBooks’ schema for accurate financial reporting.
- Imported data programmatically into QuickBooks Online.
Data Transformation
- Prepared and formatted the data to align with QuickBooks Online Advanced’s specifications.
- Employed tools to map accounts and configure recurring transaction settings.
- Addressed duplicate accounts,customers, and vendors for accuracy.
Data Validation
- Verified the accuracy of all imported data,focusing on the consistency of recurring transactions.
- Matched outstanding balances and account balances between the two systems.
- Implemented regular backups to secure financial data and protect against potential data loss.
Data Export
- Extracted Lists – Customers, Vendors, Services from Wave.
- Exported transactions, including year end adjustment entries.
- Exported financial statements for post migration data validation.
Data Upload
- Using our proprietary migration tool Dancing Numbers, uploaded data to QuickBooks Online Advanced.
- Ensured proper data alignment with QuickBooks’ schema for accurate financial reporting.
- Imported data programmatically into QuickBooks Online.
Thank
You Very
Much !
+1-800-596-0806