NetSuite to QuickBooks Conversion

After switching from one system to another the data conversion plays a prime role. Converting from the previous software to the new one might be terrifying as it involves the risk of data loss. You need a trustful reference to proceed with the process in a hassle-less manner. In this blog, you will get to know the relevant guide to convert data from NetSuite to QuickBooks. However, they both are two different applications hence require careful resolutions.

Introduction of Netsuite:

Netsuite software is the cloud ERP system that permits companies to handle all key business processes in a single system. It does not involve any hardware, upfront license fee, and complex setups. The NetSuite application is used by companies for Enterprise resource planning (ERP), inventory management, finance tracking, customer relationship management (CRM) systems, host e-commerce stores, etc.

Features of NetSuite:

NetSuite is known as the ERP software assisting enterprises allows optimizing options to enhance business growth. Also, automate the task and processes in a cloud-platform with effective outcomes. It contains exceptional capabilities to boost business processes. Here is the list of NetSuite features:

• It can run the complete financial management tasks like accounting, order management, delivery chain, and stock.
• The program permits universal business administration. Also helps to deal with countries, subsidiaries, currencies
• Generation tools with real-time information
• Cost Savings
• Better Data & Cloud Security
• Improved Inventory Costs
• Process Standardization
• Premium Supply Chain Management
• Enhanced Business Reporting

Why You Need to Convert from NetSuite to QuickBooks?

Sometimes the NetSuite does not suit your business requirements then you need to perform the conversion. There are ample of scenario occurs It might create various concerns. No need to worry here in this post you will learn the conversion steps and necessary insights. It is highly recommended to get expert surveillance for data conversion. Make sure you cover the basic knowledge related to both NetSuite and Intuit QuickBooks to know the significant protocols. Let’s delve into significant features of QuickBooks:

Better Tax Management:

QuickBooks contains exceptional options to run the actions to explore, calculate, track, and pay taxes related to the purchase or sales of services and products. It has a robust core that ensures automation, transparency, better tax management in a global environment.

Depreciation Management:

You will get better depreciation management in an accounting period to ensure the flexibility of the asset.

Workflow Management:

There ample options available to breeze the workflow management. You can effectively allot any specific processes into QuickBooks. It is capable of transforming processes into simpler ones.

Improved Financial Reporting:

Availability of Convenient methods to create a financial statement to get a clear picture of the report! Also, provide grouping options to view data according to the categories like the classification of data like budget details.

Flexible Payment Acceptance:

Flexible payment acceptance permits the clients ease of payment. This option works automatically by making payment groups appropriate to the selected criteria.

Steps to Convert Transactions from NetSuite to QuickBooks

Follow the below mention steps to convert transaction from Netsuite to QuickBooks:

Step 1: Suitable Requirement Gathering:

The initial step is to determine the best suitable version of QuickBooks such as QuickBooks Pro, QuickBooks Premier, QuickBooks Accountants, or QuickBooks Enterprise solutions. After this choose the resource.

Step 2: Import NetSuite Data:

Here in this phase, you need to gather the compatible NetSuite records such as Transactions and Activities that can be converted into the QB supportable format to simplify the operation with historical information. It is expected that you have a valid QuickBooks License to work with the updated data. Hence according to the requirements enter the entries in the system.

Step 3: Data Migration Review:

Now you completed the process of data migration check whether all the reports you imported are available on QuickBooks.

What Records of NetSuite do You Convert into QuickBooks?

NetSuite Entities to QuickBooks:

Contact	Partner
Group	Employee
Vendor	Group
Customer	Job

NetSuite Activities to QuickBooks:

Phone Call	Task
Event	Project Task

NetSuite Accounting to QuickBooks:

Budget	Units of Measure
Account	Subsidiary
Department	Accounting Periods
Revenue Recognition Schedule	Class
Location	Department
Revenue Recognition Template	Currency

NetSuite Transactions to QuickBooks:

Build/Un-build Assembly	Invoice
Customer Deposit	Item Fulfillment
Credit Memo	Vendor Returns
Customer Payment	Vendor Payments
Estimate	Return Authorization
Bin Put away Worksheet	Intercompany Journal Entry
Cash Refund	Inventory Adjustment
Cash Sale	Item Fulfillment
Check	Item Demand plan
Bin Transfer	Opportunity
Work Order	Sales Order
Vendor Returns	Transfer Order
Customer Refund	Vendor Credits
Customer Deposit Application

NetSuite Items to QuickBooks:

Discounts	Markup
Assembly items with a lot and serial numbered	Payment
Service for Purchase/Sale/Re-sale	Description
Other Charge for Purchase/Sale/Re-sale	Gift Certificate Item
Subtotal	Inventory Number
Discount	Non-Inventory Item for Purchase/Sale/Re-sale
Inventory Item with serial and lot number	Download
Package Item

NetSuite Communications to QuickBooks:

Message

Note

NetSuite Miscellaneous to QuickBooks:

Time Tracking	Expense Report
Other lists

NetSuite Web Site to QuickBooks:

Categories

Tax Groups

NetSuite Tax Records to QuickBooks:

Sales Tax Item

Tax Type

NetSuite Customization to QuickBooks:

Custom Lists, Record

Custom Record type

NetSuite File Cabinet to QuickBooks:

File

Folder

NetSuite Marketing to QuickBooks:

NetSuite Campaign Response	NetSuite Promotion Code
NetSuite Campaign

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