How to migrate from Sage 50 to Sage Intacct

We follow a 5-step implementation process to help your business switch from Stage 50 to Sage Intacct. One of the steps of the implementation process is data migration from your previous accounting system. This section will detail all of the information about the migration process so that you can get a clear understanding of what this task entails.

Step 1: Pre-conversion checklist for Sage 50

Before initiating the migration process, ensure that all data in Sage 50 is properly documented, organized, and reconciled. To do this, prepare a reconciliation statement, add account codes for all accounts in the chart of accounts, and export key reports from Sage 50. These reports will be used later to verify the accuracy of the data when importing it into Sage Intacct.

Note: Correctly formatting the data in Sage 50 before you export it for Sage Intacct is going to ensure a seamless transition process. Remember the principle of "garbage in, garbage out." If the data that you exported from Sage 50 is already a mess, then the data that you import won't be accurate.

Select the conversion date

To smoothly transition to the new accounting solution in a planned and structured manner, it is important to set a conversion date that aligns with the amount of data you want to migrate. Keep in mind that the implementation process can take one to two months, so it is advisable to set the conversion date accordingly.

Note: We recommend choosing the start of a fiscal year or a reporting period as the conversion date to simplify the migration process.

Account reconciliation

Before exporting the data from Sage 50, it is important to reconcile all of the transactions. This will ensure the accuracy of the exported data and prevent any duplicate or missing entries in your company.

Invoices and bills

When migrating transaction data, you want to ensure that you only enter and pay invoices and bills in your accounting software. Additionally, you want to match the balance of the accounts payable and accounts receivable accounts to the total outstanding balance for vendors and customers, respectively. If there is a mismatch in the balance, you need to identify and correct the error before exporting your data from Sage 50.

Note: To temporarily store the difference between the outstanding balance and the balance of the accounts payable or receivable account, you can use a clearing account in Sage 50.

Number chart of accounts

We will also need to set up account codes for each account in the chart of accounts. These codes will help differentiate between different departments and entities, including locations.

Decide the amount of data to migrate

You should also decide the amount of data you want to migrate and the migration process you want to use for your accounting data. Keep in mind that the cost of migration will increase as you choose to migrate more historical data.

The type of data migrated

You can choose the level of detail for the data you want to migrate:

• Conversion balances only: Select this option if you want to quickly switch from Sage 50 to Sage Intacct while ensuring accurate data migration.

• Comparative balances (conversion balances for multiple years): Choose this option when you want to compare the previous year's data with the current financial year data. This will help maintain the context of the migrated data.

• Complete data migration: Opt for complete data migration if you want to transfer all details of previous transactions to Sage Intacct. This option provides the highest level of context but also makes the migration process more complex, time-consuming, and expensive.

Choose between manual and automated data migration

If you manually migrate the data yourself, the only cost will be the time you spend on it. However, if you engage a consultant, you will be able to migrate the data faster. This is because most consultants have automated tools and scripts to format the data from stage 50 into the required format.

Account for gap data

During the transition, you'll need to record transactions in your old accounting system and account for this when planning to migrate to Sage Intacct. Once the migration of the data is complete, you'll then have to move all of the data recorded during the gap to Sage Intacct. When selecting the conversion date and go-live date, you'll want the shortest possible time.

Step 2: Pre-conversion checklist for Sage Intacct

Before you begin importing the data, it is important to make sure that you have properly set up Sage intact. This will ensure that the data can be accurately mapped to the appropriate account fields, customers, and categories.

Set up Chart of Accounts

Before beginning the import process, it is crucial to correctly configure the chart of accounts for all entities within your company. This will enable you to accurately match the accounts when importing transactions.

Set up bank feeds

To automatically import transactions from your bank account into Sage Intacct, you can set up bank feeds. This can be done for each of the entities and departments that you have created in Sage Intacct.

You have three main options To get the bank feed into Sage Intacct:

• Direct feeds: If your bank already integrates with Sage Intacct, you can authorize the connectivity to import all transactions and bank statements directly into your accounting software. This is the most efficient method as it automates the process, streamlines your workflow, and reduces inaccuracies caused by manual data entry.

• 3rd party integration: If your bank does not directly integrate with Sage Intacct, you can use 3rd party services like Yoddel to connect your bank feeds to Sage Intacct. Yodel retrieves your transactions from your bank account and imports them into Sage Intacct. This method is suitable when direct integration is not available.

• Payment gateway and service feeds: If your business relies on payment services like Stripe or PayPal, you can connect these feeds with Sage Intacct to import transaction information directly into your accounting software. You can automate this process or manually refresh to import the latest transactions into Sage Intacct.

• Manual data import: If there is no direct integration or third-party app available to connect your bank to Sage Intacct, you can download the bank feed as an OFX, QIF, or CSV file and manually import it into Sage Intacct. Although this method requires manual intervention, it eliminates the need for manual data entry.

Step 3: Get started converting your data to Sage Intacct

To seamlessly transfer your data from Sage 50 to Sage Intacct, you have the option to utilize CSV files for importing the exported data. CSV files are a widely accepted format for data migration and provide a convenient way to ensure a smooth transition between the two accounting systems. By using CSV files, you can easily map and import various types of data, including transactions, invoices, accounts receivables, accounts payables, inventory items, valuation, and payroll, into Sage Intacct.

The process of importing data from Sage 50 into Sage Intacct involves a few steps. First, you need to export the relevant data from Sage 50 in CSV format. This can typically be done by selecting the desired data types, such as chart of accounts, invoices, bills, customers, vendors, and inventory details, and exporting them as separate CSV files.

Export data from Sage 50

In this section will look at the data types that you need to export from Sage 50 so that you can migrate to Sage intact While retaining the historical data from your previous accounting system.

• Chart of accounts: You can export the chart of accounts from Sage 50 to obtain information such as account names, account codes, account descriptions, and account balances. This will help you have the necessary information before importing the data and ensure data integrity.

• Invoices and bills: You can also migrate invoices and bills, but at this stage, it is recommended to only enter the unpaid invoices.

• Customers, vendors, and inventory details: Exporting these data types will allow you to correctly set up the modules and Sage Intacct. Afterward, you can import the relevant information.

• Payroll and employee information: If you are using the payroll module in this accounting app, you can export the payroll and employee information from Sage 50.

Before you begin the conversion process, make sure you have gone through the pre-conversion checklist for both Sage 50 and Sage Intacct. These checklists will help you identify and address message duplicates and incorrect data. Next, decide on the format in which you want to export your data, as well as the amount of data and conversion balances you want to import into Sage Intacct.

Import data into Sage Intacct

Once you have the CSV files containing the exported data, you can proceed to import them into Sage Intacct. The import process in Sage Intacct allows you to map the fields in the CSV files to the corresponding fields in Sage Intacct, ensuring that the data is accurately imported and aligned with the appropriate accounts, customers, and categories.

By using CSV files for data import, you can easily manage and manipulate the data before importing it into Sage Intacct. This gives you the flexibility to review and clean up the data, if necessary, to ensure its accuracy and consistency. Additionally, CSV files are compatible with various spreadsheet software, making it convenient to edit and format the data before importing it into Sage Intacct.

Overall, utilizing CSV files for importing the data from Sage 50 into Sage Intacct provides a reliable and efficient method for transferring your financial data. It allows for seamless integration between the two accounting systems, ensuring that your business operations continue smoothly without any disruptions.

Step 4: Post-conversion checklist for Sage Intacct

Once you have migrated all of your data from Sage 50 to Sage Intacct, you should utilize the key reports and account balances that you exported from Sage 50. This will allow you to verify that the migration process did not introduce any inaccuracies in your accounting data.

Check the conversion date

To ensure the accuracy of the conversion date, make sure it aligns with the one selected during the planning phase of Sage Intacct implementation. Ideally, it should be at the beginning of a tax period to simplify the migration and reporting process.

Confirm opening balances through financial statements

To confirm the accurate import of data from Sage 50 to Sage Intacct, you can utilize the exported reports and balances. The trial balance and balance sheet can be used for this purpose.

For cross-checking customer and vendor balances, you can refer to the accounts receivable and accounts payable account balances.

Check essential reports

To ensure the accurate import of data from Sage 50 to Sage Intacct, you should review the following reports:

Reconciliation report

To create a reconciliation report in Sage Intacct, follow these steps:

1. Set the conversion date to the desired date for the report.

2. Use the report to identify all unreconciled transactions.

3. Match these transactions and reconcile them to ensure accurate recording of data.

Trial balance

Export the balances of accounts and trial balances from Sage 50. Then, create a trial balance in Sage Intacct. Ensure that the total debits and total credits match on each of the trial balance reports. If they don't match, investigate the details of the transaction causing the error and resolve the issue.

Aged receivables and payables report

The age receivables and payables report will display the outstanding balances for both customers and vendors. You can use this report to verify the total outstanding balance for each customer and vendor and make any necessary corrections as needed. If you require more detailed information, you can refer to the aged papers or aged receivables detailed report.

Journal report

The journal report can help you identify errors and imbalances in the balance sheet and the trial balance. This report is vital for making corrections and removing any inconsistencies.

Create a lock date in Sage Intacct

Once you have verified the accuracy of all the data that you have migrated from Sage 50 to Sage intact you want to lock the data from before the conversion date so that other users Who don't have administrator access cannot make changes to that particular data.

Available resources

Sage has made several online resources available to help your business get started with Sage Intacct. Our experts will also be available to assist your team in getting started and configuring additional modules to enhance their accounting solutions. Additionally, you can connect with us for any third-party integrations, such as Salesforce or HubSpot integration with Sage Intacct.