You will be asked to check everything once your case has been reviewed and your data has been converted. You need to investigate the situation and make sure that everything is moved seamlessly and securely. To make sure that the data conversion is as comprehensive as possible, there are a few things you should make sure of before you begin using QuickBooks Online. It is important to take care of these things before using QuickBooks Online daily. You can use it to make the required corrections and adjustment entries. You can now begin adding new transactions as a result.
Before starting with the post-QuickBooks Data Conversion services checklist, you have to keep the following things your mind:
- Make sure you have received an email requesting you to log in as the primary administrator to your QuickBooks Online account by checking your inbox.
- In the email, you have to tap the Accept link. You will be taken to the QuickBooks Online sign-in page.
- Use your QuickBooks Online login information to log in.
If you create your own QuickBooks Online file, be aware that you are the primary admin. The following are the checklist items you need to complete after QuickBooks data conversion:
Verify Your Data
After converting QuickBooks Desktop data successfully you should validate your data in QuickBooks Online. To quickly verify the data are as follows:
Compare the Reports:
To maintain the accuracy and completeness of the converted data you have to make sure to review your data after conversion. You can compare the reports from the previous software (printed) (Sage/ Xero/ QuickBooks Desktop/ Kashflow/ etc.) with reports in QuickBooks Online. It will help in ensuring the conversion functions successfully and accurately:
Important Note: You may be guaranteed that your reports will be generated actually as you check the balances online using the previous program. Even if you are paid on a cash basis, make the effort. It will guarantee accurate balances and a smooth data migration process. You have to verify the following reports:
- Balance Sheet Report
- Customer Balance Summary – All Dates
- VAT Summary Report for the most recent VAT Period
- Trial Balance – All Dates
- Supplier Balance Summary – All Dates
- Any other reports you would like to check
Verify that the QuickBooks data conversion tool downloads and transfers everything smoothly.
Sales Tax Notes
Different methods are used for Sales Tax tracking in QuickBooks Desktop and QuickBooks Online. For example, the amount may move from the Trial Balance report to a Sales Tax Payable account or a temporary suspense account in QuickBooks Online if you completed a tax filing but had not yet received or paid the transaction before moving to QuickBooks Online.
The converted file may not include certain historical sales tax adjustments or exceptions. For this reason, you should contact QuickBooks Data Conversion Services support if your previous company file contains unresolved tax discrepancies or adjustments. Furthermore, if the new QuickBooks Online file contains any uncleared or unreconciled transactions, make sure to review and reconcile them properly so that the balances match accurately after conversion.
Validate Company Settings
Your accounting data will be transferred to QuickBooks Online using the QuickBooks Data Conversion Services, but you should still verify your company details after the migration. Review the following settings carefully:
- Select Accounts and Settings by clicking the Gear icon.
- In the Company tab, review and update your business contact information.
- Make sure you enter the correct email addresses for billing and customer communication. The Company Email field will receive subscription invoices and account notifications from QuickBooks. If you prefer to use a different email address for customers, enter it in the Customer-facing email field. Customers will use this email address to contact your business.
- Click Save at the bottom of the screen to confirm the changes.
Confirm the Sales Tax Settings
Before you begin using QuickBooks Online, make sure the Sales Tax settings are configured correctly. Verify the tax rates, agencies, and filing preferences based on your business requirements.
The following are the steps to review the Sales Tax settings:
- Go to the Taxes section and select Sales Tax.
- Review the listed tax agencies and tax rates carefully.
- Make sure the correct tax setup is applied to your products and services.
- Verify the filing frequency and reporting preferences if applicable.
- Click Save after making any necessary changes.
Review and Adjust Sales Tax Balances
QuickBooks Online may treat certain historical sales tax balances differently after conversion. To ensure that the balances are accurate, review your previous filings and confirm that all tax liabilities are properly reflected in QuickBooks Online. Follow these steps to review sales tax balances:
- Go to Taxes and open the Sales Tax Center.
- Review the outstanding sales tax balances and compare them with your previous QuickBooks Desktop records.
- Verify that all historical tax payments and filings are properly recorded.
- If needed, create adjustment entries to correct any remaining balance differences.
- Go to Bookkeeping and select the Chart of Accounts.
- Open the Sales Tax Payable account and review the transaction history.
- If adjustments are required, create the appropriate journal entries with your accountant’s guidance.
- Add a description such as “Post-conversion sales tax adjustment” for reference purposes.
- Click Save and Close to confirm the changes.
The Sales Tax balances should now reflect correctly, and future tax reporting in QuickBooks Online should work accurately.
Clean Your Bank Reconciliations
Since you have never used QuickBooks Online for bank reconciliation, it is assumed that you have not yet reconciled your bank transactions. As a result, you will need to give QB instructions to flag as reconciled all transactions up until the conversion date. It will only cause it to take into account transactions in the future for reconciliation.
The following steps can help you clean up the bank reconciliations:
- Select the Reconcile button by clicking the Gear symbol.
- Then you have to go to the drop-down menu and pick the appropriate bank account. Also, select the Reconcile Now option.
- A box named “Start Reconciling” will appear on the screen. Enter the date of the last reconciliation in the Statement Ending field. Next, enter the cleared balance in the Ending Balance column just as it appeared on your prior reconciliation.
- After leaving the remaining fields empty, tap OK. On the screen, a list of transactions will appear. To choose every transaction in the list, check the boxes at the top. Select every transaction in both columns when the data is split into two columns. Find the transactions that are still unclear later and unmark them. When the difference is zero, it means you are operating correctly.
- Select the “Finish Now” option.
For each bank account in QuickBooks Online, repeat these steps.
Connect Payments and Credits to open Invoices
The transactions that were downloaded into QB were unable to link the invoices with the corresponding payments, so you will need to link credits and payments to open invoices. For example, you can see names with zero balances when you access your QB Online receivables and payables aging reports.
You must immediately link payments to open invoices or activate the automatically apply credit preference to credit to resolve the issue. You can enable auto-apply credits in the following ways:
- Go to the Gear symbol.
- Select Settings and Accounts.
- Select the Advanced tab.
- Navigate to the automation area and choose Edit.
- Select the button labelled “Automatically apply credits.”
- Select Save.
If you would prefer not to apply for every payment automatically, you can create payments one at a time. You will need to proceed name by name to do this.
Delete the Intuit Data Services User from the QB Online Account
Once the data translation services have been completed, you should deactivate the Intuit Data Services user from the QB Online account. Your file won’t need to be accessed by the Intuit data specialists anymore.
The steps listed below will be helpful in this process:
- Start by clicking the Gear icon.
- Select the Manage User option.
- Select the data service user that you added; it will have the email address from Intuit. Next, press Delete.
Once you have completed these steps, you should open QuickBooks. Also, you can ask QB experts for support if you need it.
