I am transferring from quickbooks to quickfile. Ideally, I would like to import all my transactions for the last two financial years. Is this possible?
I can see that I can import trial balances for a specific date, this of course gets me started but I would prefer to pull as much historic info into Quickfile as possible.
Yes you can BUT not required, only opening balance sheet for current year should be OK as starting point.
You can keep soft and hard copies from quickbook as backup record
Thanks for reply.
Unfortunately, my accounting year starts in October and I have literally thousands of transactions so far this accounting year. Re-keying would be a nightmare, so very keen to export and import transactions electronically.
Well I be OK importing trial balance as at September end and then importing individual sales invoices and purchase invoices.?
Yes you can export from quickbook and import in QF using CSV. You can also create balance sheet as per today from Quickbook and use that as opening balance sheet from tomorrow ion QF, if you dont have big list of debtors and creditors then it is best way to do
There are a few things you can do here…
You can import sales and purchase invoices from a CSV file (see here). Probably the fastest way to get your bookkeeping up to date in Quick File is to import your bank statements since October and use the bank tagging tools to create all your invoices from the statement activity. The following guide will explain the bank tagging process in more detail.
Hmmm… wouldn’t that mean having one accounting year split between two sets of accounting software?
Not ideal, i would have thought?
Thank you for your help.
I don’t think it’s a big problem, when the year end comes it’s the trial balance that matters. I should be clear I am not an accountant, but I’m sure @FaradayKeynes has a better explanation.
Thanks Glen, if you were me which way would you advise to switch to quickfile?
My accounting year starts October 1st
My Vat qtrs are Dec, Jan, Feb
Mar, apr, may
June, july, aug
Sept, Oct, nov
We have 2000+ sales invoices per month
we have 50-100 purchase invoices per month.
We have very good computer skills in house.
Ideally, if you could suggest a best method of transfer in our circumstance, that would be great.
Thanks in advance.
As you are VAT registered I’d start inputting data from the first day of your current VAT quarter. If you were to start from December 1st 2013, it would be advisable to import a trial balance up to the close of 30th November and then import all invoices from 1st December to the present time. You could of course wait for the next VAT quarter if you have already completed much of the work for this quarter in Quickbooks.
There’s always likely to be some manually adjusts when moving over but once you’ve completed your first return in Quick File you should be good going forward.
If you use today’s balance sheet, it will require manual adjustment for year end.
Best is Enter you last year’s closing balances and either use TB as per today or export all transactions from 1st Oct to date and import in QF.
Thank you both for your help… much appreciated.
Better get on and do it !
Keep quick book alive until you are 100% on data migration to QF
Hi Glenn & FK
One further query I have concerns uploading via CSV transactions that are neither purchase or sales invoices, eg inter account transfers, payments etc. Is there an automated way of doing this or will i have to download statements and use tagging to get these up to date.
Yes these are bank transactions. If you upload your bank statement you can bulk tag these as transfers in blocks of 50. Hope that helps!
Best is create tag rule first before try any import. Interbank transfers need to be imported on one account only and if tag rule set, it should post figures
Should I create my individual bank accounts (i have 5) in quickfile before i import my trial balance from Quickbooks or would this lead to double counting?
if your TB is showing 5 different accounts then yes
Thanks
How does quickfile allocate the bank balances in the uploaded trial balance CSV file to the bank accounts that i have created in quickfile ?
Does the bank account description need to be identical?
or
Do I have to set up a new nominal code for each individual bank acount?
You will need a separate CSV file for each bank account as Quick File has no way to differentiate. I know when you obtain a CSV from Barclays (and possibly Natwest) they will by default lump all transactions for all accounts into one CSV, you would need to obtain separate CSVs for each bank account then upload them individually to the respective bank account in Quick File.
Hi Glenn
Think we are at a misunderstanding.
I was referring to my trial balance which I am exporting from Quickbooks. Within Quickbooks I have 5 bank accounts and I wanted to know how to migrate the correct balance into the correct bank account within Quickfile.
What i did was to upload my trial balance into quickfile and what happened was that it added together all the bank accounts and put the total balance into the default current account.
I understand how to use the bank csv system for ongoing transactions it was just the original set up that i am struggling with.