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.
VAT Notes
Different methods are used for VAT tracking in QuickBooks Desktop and QuickBooks Online. For example, the amount will move from the Trial Balance report to the Accounts Payable or Receivable account in the previous software to a new suspense account in QuickBooks Online if you have completed a filing but haven’t received or paid for the transaction before moving to QuickBooks Online.
The ensuing file will not include the current VAT exceptions. For this reason, you need to get in touch with QuickBooks data conversion services support if you have any exceptions in your previous app data. Furthermore, let’s say that the latest software file contains any uncleared or unreconciled transactions. To make sure that the transactions match in that case, you should unmark them in the QB Online reconciliation report.
Validate Company Settings
Your accounting data will be transferred to QuickBooks using the QuickBooks Data Conversion services, but the company name, address, email, and related details will remain fixed. As a result, you must verify the following company settings:
- Select Accounts and Settings by tapping the Gear symbol.
- In the firm name tab, provide the company’s contact details.
- Make sure you enter the correct email addresses and handle everything smoothly for accurate billing and customer communication. For QuickBooks billing, the email address will be in the Company Email box. Invoices for your QB subscription will be sent to this email each month. Enter the email address in the Customer-facing email box if you would like not to communicate with customers using the company email address. Customers will use this email to connect with the business.
- To confirm the changes, tap Save which is located at the bottom of the screen.
Confirm the VAT Settings
Make sure QB Online has the correct VAT registration number and filing frequency before you or your clients begin using QuickBooks and the VAT number. If your QB hasn’t registered for VAT, skip this step.
The following are the methods to verify the VAT settings:
- Go to the VAT section.
- Select Edit VAT from the drop-down menu, then click Edit Settings.
- In the VAT registration number box, enter your VAT registration number.
- Make sure the reporting method is accurate by checking and verifying. You can change the filing frequency if needed.
- To confirm these configurations, tap the Save button.
Clean up VAT
The QuickBooks Online app assumes that all of the VAT records in your accounts are past due because you have never filed VAT using it. It suggests that there is an error in QB’s VAT balance. Examine the QuickBooks Desktop file for the most recent VAT filing date, then enter it. It will guarantee that the VAT balance is accurate and shown correctly in future transactions. Here’s how to get rid of VAT:
- Go to VAT and then click on the Prepare Return option.
- Enter the following details when the Prepare VAT Return screen displays.
- You can arrange the start date as the starting date of the conversion period.
- By the previous VAT return, you can set the End Date as the last day of the period covered.
- To verify that the VAT returns have been filed up to the current date, tap the Mark as Filed button and then click Continue.
- This will bring up the VAT screen. In this case, you must make a reverse journal entry to show that your present balance is accurate.
- Click Bookkeeping, then select the Chart of Accounts.
- From the Chart of Accounts, choose the VAT Suspense Account. Select Account History next.
- Select Edit next to the VAT transaction you just created.
- It will display the journal entry screen. Select Reverse from the bottom menu.
- You’ll see that the list now includes a new line for VAT Suspense. You have the option to include in the Description column that this was a post-system migration task or something similar if you’d like.
- To confirm these changes you can click on Save and New.
The VAT balance will now become correct. Also, the VAT returns should follow suit.
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.