MYOB to QuickBooks Conversion

by James Antonio

Once you decide to convert your MYOB to QuickBooks and have all your files set up, the next step you need to do is transfer your previous Accounting data into the software.

One of the first things that you need to do is create a backup until today. If in case something goes incorrect, you do not wish the data to be damaged.

Once the data is backed up, you would have to export all the transactions from your MYOB to text files.

This can be completed by selecting “File” and then choosing “Export Data.” Then you would get a list of all the types of transactions, you can choose the ones you need to transfer.

You can convert both transactions as well as the general entries. Along with that, you will be able to export accounts receivable like Money Received, Item Sales, Service Sales, Professional Sales, Misc. Sales and time billing sales. You would also be able to convert purchases, services purchased, money spent, misc. Purchased, professional purchases, and item purchases.

Once these data are transferred to the text format, it needs to be exported to excel and then tidied up. Once you have everything in order, it is ready to be imported into your installed QuickBooks software.

MYOB to QuickBooks Conversion

What all you can convert from MYOB lists and transactions to QuickBooks Online, Premier, or Pro QuickBooks Editions.

  • MYOB Chart of Accounts to QuickBooks Chart of Accounts.
  • MYOB Vendor List to QuickBooks
  • MYOB Item List to QuickBooks
  • MYOB Client List to QuickBooks
  • MYOB Employee List to QuickBooks

QuickBooks Transaction Types Conversion

  • MYOB Vendor Credits to QuickBooks
  • MYOB Credit Card Charges to QuickBooks
  • MYOB Invoices to QuickBooks
  • MYOB Sales Receipts to QuickBooks
  • MYOB Item Receipts to QuickBooks

If the data that you want to transfer spans over a few years, it would be advisable to break it into parts of a few weeks. As this is an extremely time consuming process, you can take the help of any outsourcing partners. It can help you arrange the data as you need, along it will also train you on how to make the most effective use of the Accounting software at the most affordable cost.

Before you Start your Conversion from MYOB to QuickBooks Remember the things

Converting your company data from your MYOB to QuickBooks is a complicated procedure, and for the first timer can be daunting.

You need to plan your conversion before starting and test out the process or a little sample of data to identify any possible problems before committing to a transfer.

  • Now, let’s dive into the conversion of balances, lists, and transaction history.

Limitations: You will not be able to import historical payroll transactions into your QuickBooks, units of measure, or assembly information; QuickBooks does not permit this at this time.

Steps to Convert Data from MYOB to QuickBooks

Depending on your accounting data’s complexity and size in MYOB, full conversion to QuickBooks can take quite some time.

You will need to have a good knowledge of Microsoft Excel for this. If you switch straight across to QuickBooks and do not want to disrupt your business, you need to undertake the conversion when you can set aside a pair of days to do the transfer and finish all your checks.

You will need to have the Following to Complete the Transfer:

  • QuickBooks 2008 or Greater.
  • MYOB Software
  • Microsoft Excel

The process has the following phases:

  1. Transfer your MYOB card file details to QuickBooks.
  2. Transfer the tax codes and customer lists to QuickBooks.
  3. Transfer the supplier lists and the employee lists to QuickBooks
  4. Create the opening balances in QuickBooks.
  5. Create the opening inventory balances in QuickBooks
  6. Export accounts payable and account receivable transactions from MYOB into text files.
  7. Import accounts payable transactions into QuickBooks.
  8. Import accounts receivable transactions into QuickBooks.
  9. Validate data transfer.
  10. Setup and configure QuickBooks.

MYOB Card Files into QuickBooks Lists

To begin, you might need to make some changes in MYOB before you export the lists, as there are differences in the rules encompassing MYOB and QuickBooks lists.

Correcting these before you export your data from MYOB will save you a lot of time later in the process.

These include:

  1. Duplicate Names

QuickBooks will not let duplicate names on any lists, but MYOB does; for instance, a supplier called Amy J and a customer called Amy J will not import into QuickBooks, the name must have some sparse difference from the existing name, such as initial or different punctuation, capitalization, or spacing. You can use the search and replace to identify.

  1. Unsupported characters

Any MYOB lists which include the below mentioned characters will not or may create errors while importing into QuickBooks:

  • Apostrophe (‘)
  • Comma ( , )
  • Colons ( : )
  • Names that are too long
  1. List size restrictions.

QuickBooks gives a limit to the number of items in its lists; earlier, it was 14,000 for versions up to Premier and 28,000 for Enterprise. Once you have taken care of these, you can start exporting the MYOB card files.

Export Your Accounts List from MYOB

  1. First of all, open your MYOB select File > Export data > Accounts.
  2. You will have to make the following modifications for the new equivalent in QuickBooks
  3. Open the exported file in your Microsoft Excel and update the Account Types to the QuickBooks Account Type equivalents, using the search and replace feature.
  4. Change currency format to number format.

Import the Account List into QuickBooks

  1. First of all, create a new company file in QuickBooks with no chart of accounts.
  2. Open QuickBooks Select File > Import > Excel files and map the following fields.

Transfer Tax Codes and Customer Lists to your QuickBooks

Tax Code lists

The mapping of the Tax Code lists is down to your own choice and is something that needs careful consideration. There are many variations between the codes used by your MYOB to the codes used by your QuickBooks. Retaining the MYOB tax coding makes the transfer more straightforward but can often lead to confusion later.
For that reason, we suggest that you follow the default QuickBooks tax coding.

Expense transactions

Once you have set up the Cost and Expense of Goods Accounts with a default tax code, then you can default to that Tax Code and removes the wish to import the tax code with the transaction line. Though, transactions that do not follow the default need to be noted and manually adjusted once the transaction has been imported.

Customer List

MYOB and QuickBooks differ in the way they manage jobs. MYOB jobs are kept in a separate list, while QuickBooks has a parent – child type structure.

Supplier List

Match your Supplier list QuickBooks to MYOB.

Employee List

You will have to use the Employee List template in an IIF format as there is no supported interface in QuickBooks excel list import functionality.

Item List

You will need to re-classify the MYOB item types to the similar QuickBooks Item types within your Excel.
The assumptions we recommend are:

  • If MYOB “Buy” but not Inventory, then QB “Non-Stock Part.”
  • If MYOB “I Inventory This Item,” then QB “Stock Part.”
  • ALL ELSE QB “Service”

Create Opening Balances in QuickBooks

You need to export a trial balance for the closing date of the last period in MYOB of the date that you need to start the transaction history from, then export the trial balance to Excel.

From within Excel, you will have to clear up the data so that you can pick up that data and import it as a journal entry.

Create on-hand Quantities for Items in QuickBooks

Suppose you need to set up On Hand inventory levels in QuickBooks. In that case, it is possible to do that either through importing an inventory adjustment on which you can define the quantity received or the value of the items on hand.

Consequently, you have the option to import the items and values as a bill against a dummy supplier account.

Convert Transaction History from MYOB to QuickBooks

Once you are done with your checks and have a QuickBooks file setup with opening balances and lists, it is good to make a backup before you start importing transaction history into QuickBooks.

Historical Transaction Data

The first step in the transaction transfer process is to export all the necessary transactions from your MYOB company file into text files. Based on the opening balance date you have selected, you will need all open transactions prior to your opening balance date and then all transactions since the opening balance date.

  1. Select the File > Export data and then the transaction types to export. It is apparently better to transfer manageable chunks of data on a monthly or else quarterly basis, based on the volumes of transactions you are trying to get across.

MYOB Gives you the Following Transactions Types that you can Export:

  • Money received
  • Accounts Payable Purchases
  • Service purchases
  • Item purchases.
  • Professional purchases.
  • Journal Transactions Transaction journals.
  • General journal entries.
  • Accounts Receivable Service Sales.
  • Item Sales.
  • Professional Sales.
  • Time Billing Sales.
  • Miscellaneous Sales.
  • Miscellaneous purchases.
  • Money spent.

You will have to do some tidying up in Excel to remove blank lines or subtotals from the MYOB exported transaction files; if you are recording the Tax Codes, then you will have to do them in Excel prior to getting this data into QuickBooks; alternatively, you can rely on the default tax code linked with the item which the Transaction Importer will default to if not specified, but be cautious as there may be exceptions.

The next step will be to import these transactions into your QuickBooks company file. Always remember to back up your company file before trying to import transactions, so if something goes wrong, you can roll back to the last good version.

Now check whether the Conversion was Successful or not.

Compare your reports in both MYOB and QuickBooks as of the accounting period date you choose to convert the file to confirm that the transfer has been successful:

  • Profit and Loss
  • Trial Balance
  • Balance Sheet

Features of Dancing Numbers for QuickBooks Desktop

Imports

Imports

Exports

Exports

Deletes

Deletes

Customization

Customization

Supported Entities/Lists

Dancing Numbers supports all QuickBooks entities that are mentioned below:-

Customer Transactions

Invoice
Receive Payment
Estimate
Credit Memo/Return Receipt
Sales Receipt
Sales Order
Statement Charge

Vendor Transactions

Bill
Bill Payment
Purchase Order
Item Receipt
Vendor Credit

Banking Transactions

Check
Journal Entry
Deposit
Transfer Funds
Bank Statement
Credit Card Statement
Credit Card Charge
Credit Card Credit

Employee Transaction / List

Time Tracking
Employee Payroll
Wage Items

Others

Inventory Adjustment
Inventory Transfer
Vehicle Mileage

Technical Details

Easy Process

Bulk import, export, and deletion can be performed with simply one-click. A simplified process ensures that you will be able to focus on the core work.

Error Free

Worried about losing time with an error prone software? Our error free add-on enables you to focus on your work and boost productivity.

On-time Support

We provide round the clock technical assistance with an assurance of resolving any issues within minimum turnaround time.

Pricing

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Importer, Exporter & Deleter

*See our Pricing for up to 3 Company Files

$199/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Unlimited Export
  • Unlimited Import
  • Unlimited Delete

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Accountant Basic

*See our Pricing for up to 10 Company Files.

$499/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer,Exporter,Deleter
  • Unlimited Users
  • Unlimited Records
  • Upto 10 companies

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Accountant Pro

*See our Pricing for up to 20 Company Files.

$899/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer, Exporter, Deleter
  • Unlimited Users
  • Unlimited Records
  • Up to 20 companies

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Accountant Premium

*See our Pricing for up to 50 Company Files.

$1999/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer, Exporter, Deleter
  • Unlimited Users
  • Unlimited Records
  • Up to 50 companies

Frequently Asked Questions

 
How and What all can I Export in Dancing Numbers?

You need to click "Start" to Export data From QuickBooks Desktop using Dancing Numbers, and In the export process, you need to select the type you want to export, like lists, transactions, etc. After that, apply the filters, select the fields, and then do the export.

You can export a Chart of Accounts, Customers, Items, and all the available transactions from QuickBooks Desktop.


How can I Import in Dancing Numbers?

To use the service, you have to open both the software QuickBooks and Dancing Numbers on your system. To import the data, you have to update the Dancing Numbers file and then map the fields and import it.


How can I Delete in Dancing Numbers?

In the Delete process, select the file, lists, or transactions you want to delete, then apply the filters on the file and then click on the Delete option.


How can I import Credit Card charges into QuickBooks Desktop?

First of all, Click the Import (Start) available on the Home Screen. For selecting the file, click on "select your file," Alternatively, you can also click "Browse file" to browse and choose the desired file. You can also click on the "View sample file" to go to the Dancing Numbers sample file. Then, set up the mapping of the file column related to QuickBooks fields. To review your file data on the preview screen, just click on "next," which shows your file data.


Which file types are supported by Dancing Numbers?

XLS, XLXS, etc., are supported file formats by Dancing Numbers.


What is the pricing range of the Dancing Numbers subscription Plan?

Dancing Numbers offers four varieties of plans. The most popular one is the basic plan and the Accountant basic, the Accountant pro, and Accountant Premium.


How can I contact the customer service of Dancing Numbers if any issue arises after purchasing?

We provide you support through different channels (Email/Chat/Phone) for your issues, doubts, and queries. We are always available to resolve your issues related to Sales, Technical Queries/Issues, and ON boarding questions in real-time. You can even get the benefits of anytime availability of Premium support for all your issues.


How can I Import Price Level List into QuickBooks Desktop through Dancing Numbers?

First, click the import button on the Home Screen. Then click "Select your file" from your system. Next, set up the mapping of the file column related to the QuickBooks field. Dancing Numbers template file does this automatically; you just need to download the Dancing Number Template file.

To review your file data on the preview screen, just click on "next," which shows your file data.


What are some of the features of Dancing Numbers to be used for QuickBooks Desktop?

Dancing Numbers is SaaS-based software that is easy to integrate with any QuickBooks account. With the help of this software, you can import, export, as well as erase lists and transactions from the Company files. Also, you can simplify and automate the process using Dancing Numbers which will help in saving time and increasing efficiency and productivity. Just fill in the data in the relevant fields and apply the appropriate features and it’s done.

Furthermore, using Dancing Numbers saves a lot of your time and money which you can otherwise invest in the growth and expansion of your business. It is free from any human errors, works automatically, and has a brilliant user-friendly interface and a lot more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


Is it possible to use the Direct Connect option to sync bank transactions and other such details between Bank of America and QuickBooks?

Yes, absolutely. You can use the Direct Connect Option by enrolling for the Direct Connect service which will allow you access to the small business online banking option at bankofamerica.com. This feature allows you to share bills, payments, information, and much more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


What are the various kinds of accounts you could access in QuickBooks?

QuickBooks allows you to access almost all types of accounts, including but not limited to savings account, checking account, credit card accounts, and money market accounts.

Get Support

Bulk import, export, and deletion can be performed with simply one-click. A simplified process ensures that you will be able to focus on the core work.

Worried about losing time with an error prone software? Our error free add-on enables you to focus on your work and boost productivity.

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