QuickBooks Online to Sage Intacct Data Migration

Switch from QuickBooks Online to Sage Intacct

Step 1: Planning the Sage Intacct Implementation

This initial phase involves setting clear objectives to ensure that the data migration process proceeds smoothly. We understand the needs of the organizations at this point to determine the number of entities, integrations, and customizations required during the migration process.

Step 2: System Configuration and Customization

While implementing Sage Intacct, it is essential to understand the ongoing business processes and tools that different teams are using for day-to-day tasks. As an extension of the planning phase, we create a chart of accounts, financial dimensions, user roles, and permissions, as well as reports and dashboards that a business may require when using Sage Intacct.

Step 3: Data Migration

During this stage, we will migrate all of the data from QuickBooks Online to Sage Intacct. This data will include historical transactions, account balances, customer and vendor details, employee information, and financial records. Most of the work is done using automation to minimize manual data entry, reducing the risk of inaccuracies and duplicate transactions.

Step 4: Testing and Training

During the planning phase, we set a go-live date to ensure that the migration process proceeds on schedule. During this phase, we will assist various teams and their members in using Sage Intacct. We will conduct tests for various scenarios and address any issues that may arise. We will offer ongoing support during the migration process and for the first month thereafter, ensuring that your business can effectively utilize Sage Intacct.

Step 5: Go Live and Post-Implementation Support

Once we have migrated all of the data and aligned your teams, the system goes live. After implementation, we will provide ongoing support to address any issues or questions that arise. We will also assist with additional customizations, setting up additional modules, and integration to ensure that Sage Intacct becomes an integral part of your business processes.

Migrating data from QuickBooks Online to Sage Intacct

In the above section, we discussed the five-step implementation process that we employ when assisting businesses in transitioning from QuickBooks Online to Sage Intacct. A crucial component of this process is the data migration from QuickBooks Online to Sage Intacct.

In this section, we will delve deeper into the migration process and the associated risks to ensure that you can make an informed decision.

Step 1: Pre-Conversion Checklist in QuickBooks Online

Before exporting data from QuickBooks Online, it's essential to ensure that the data is properly documented, organized, and reconciled.

To achieve this, you should first prepare a reconciliation statement, add quotes to all the accounts in the chart of accounts, and export key reports from QuickBooks Online. These reports will allow you to cross-reference the numbers with the reports you'll create in Sage Intacct.

Remember, it's easier to format the data in QuickBooks Online since you have context in your existing accounting software. Keep in mind the principle of "garbage in, garbage out." If the data exported from QuickBooks Online is messy, the imported data won't be accurate.

Set the Conversion Date

To proceed with your plan, you need to set the conversion date to match the date you'll be importing data from QuickBooks Online. This step ensures alignment and consistency throughout the process. Additionally, it's crucial to reconcile all accounts in QuickBooks Online before initiating the data export. Reconciliation helps identify and rectify inaccuracies, duplicate transactions, and missing entries in your company file. During this process, you'll match transactions on the bank statement with those in a specific bank account, allowing you to pinpoint errors in your company file.

Reconcile Accounts in QuickBooks Online

As you already have your bank feeds and transactions in your current accounting solution, it's crucial to reconcile all transactions to eliminate inaccuracies, remove duplicate data, and account for missing entries before exporting data from QuickBooks Online to Sage Intacct. To reconcile transactions, you can access the Transactions menu, select the Reconcile tab, and review all recorded but unreconciled transactions.

Invoices and Bills

You must transfer all data regarding unpaid invoices and bills from QuickBooks Online to Sage Intacct. This information is essential for collecting outstanding amounts from your customers and settling your dues with vendors. Additionally, you'll need to match the balances in the Accounts Payable and Accounts Receivable accounts to the outstanding balances for vendors and customers, respectively. If there's a discrepancy, you can use a suspense account or clearing account to record the difference. However, it is generally recommended to consult with your accountant to identify and address the underlying cause of the error.

Select the amount of data to migrate

When it comes to migrating data from QuickBooks Online to Sage Intacct, there are two approaches: manual and automated.

1. Manual Data Migration:
   • Manual migration involves transferring data by hand, which can be time-consuming and prone to errors.
   • It may take a significant amount of time, especially for businesses with extensive data.
   • Manual migration can be challenging and may require a deep understanding of both QuickBooks Online and Sage Intacct.

2. Automated Data Migration:
   • Data migration experts often use automated tools and scripts designed to streamline the process.
   • These automated tools help eliminate manual data entry, reducing the risk of errors and expediting the transition.
   • Automated migration can make the process smoother, faster, and more efficient.

In most cases, relying on data migration experts with automated tools can simplify the migration process and ensure a more accurate and timely transition. These experts have experience in handling the intricacies of data migration, making it a preferable option for businesses looking to switch from QuickBooks Online to Sage Intacct.

Account for data recorded during the gap period.

To account for data recorded during the gap period, it's essential to ensure a smooth transition from your previous accounting software to Sage Intacct. This process is facilitated by accurately mapping all accounts and setting up the chart of accounts properly. Proper mapping and setup help ensure that data recorded during the transition period can be seamlessly migrated into Sage Intacct, minimizing any potential disruptions or inaccuracies in your financial records.

Step 2: Pre-Conversion Checklist for Sage Intacct

Before importing data into Sage Intacct, it's advisable to take preparatory steps within the system. You can perform actions such as setting up a chart of accounts and configuring bank feeds. These preparations make it easier for data migration experts to correctly map fields and facilitate a smoother data migration process.

Set Up a Chart of Accounts in Sage Intacct

In Sage Intacct, you have the flexibility to set up a chart of accounts for your entire business, as well as for each of your entities, locations, and departments. Once you've established the chart of accounts, you'll be well-prepared to map the details when importing transactions exported from QuickBooks Online. This organized setup helps ensure a seamless transition of financial data into Sage Intacct.

Set up bank feeds in Sage Intacct.

Setting up bank feeds in Sage Intacct can significantly streamline your accounting processes. Here are the options for integrating your bank data:

1. Direct Feed:
   • Many banks offer direct integration with Sage Intacct, allowing transactions to be automatically imported into your accounting software.
   • This method simplifies the reconciliation process and eliminates the need for manual data entry.
   • You'll need to authorize the connectivity to import transactions and bank statements directly from your bank account into Sage Intacct.

2. Third-Party Integrations:
   • If your bank doesn't offer a direct integration, you can use third-party integrations like Yodel feeds.
   • Connect your bank feeds to Yodel feeds, and then link Yodel to Sage Intacct, acting as a connector between your bank account and accounting software.
   • This approach enables automation even when a direct bank integration isn't available.

3. Payment Gateway Integrations:
   • If you use payment services or gateways like PayPal, Stripe, or Razorpay, leverage existing integrations to automate data entry.
   • These integrations allow you to streamline the process by connecting your payment accounts directly to Sage Intacct.

4. Manual Data Entry:
   • When there is no direct integration or third-party app available, you can download transactions and bank feeds in formats like QFX or CSV files.
   • Import these files into Sage Intacct, reducing manual data entry in the accounting software.

Choose the method that best suits your bank's capabilities and your workflow to optimize your bank data integration with Sage Intacct.

Note that our QuickBooks Online to Sage Intacct Data Migration Experts will help you with setting up bank feeds and customizations so that you can smoothly transition to Sage Intacct.

Export data from QuickBooks Online in CSV format

To simplify the data conversion process, you can export your data from QuickBooks Online in CSV format. CSV files are more manageable when migrating data from QuickBooks Online to Sage Intacct. You'll need to export various lists, including the Chart of Accounts, Customer and Vendor information, Inventory Items, Payroll and Employee data, and transaction details such as invoices, bills, journal entries, credit memos, and delayed credits.

To ensure a smooth transition, follow the Pre-Conversion Checklist to verify that the data is correctly formatted and that transaction details are reconciled. Then, use the CSV file to format the data according to Sage Intacct's requirements. In the next section, we will explore how to import the data that you exported from QuickBooks Online into Sage Intacct.

To import data into Sage Intacct, follow these steps:

1. Open the CSV file that you exported from QuickBooks Online using Microsoft Excel or Google Sheets.

2. Use the formatting guidelines provided by one of our experts to ensure that the data is correctly formatted according to Sage Intacct's requirements.

3. Import the formatted data into Sage Intacct.

4. During the import process, map the columns in the Excel file to the corresponding fields in Sage Intacct to ensure that the data is accurately transferred.

By following these steps, you can successfully import your data from QuickBooks Online into Sage Intacct and ensure a smooth transition.

Step 4: Post-Conversion Checklist for Sage Intacct

After migrating all the existing data from QuickBooks Online to Sage Intacct, it's crucial to use key reports and account balances to verify the accuracy of the migrated data.

Check the Conversion Date

To confirm that you've successfully transferred all the necessary data, ensure that you have selected the correct conversion date accurately during the migration process. This step helps ensure completeness and accuracy in your Sage Intacct records.

Match opening balances in reports from QuickBooks Online and Sage Intacct.

Matching opening balances using reports is a crucial step in ensuring the accuracy of your migrated data. Here's how to do it.

The reports exported from QuickBooks Online contain the information you need to verify the accuracy of the migrated data.

Create the same reports in Sage Intacct to match the balances.

If you find a mismatch, use the journal transactions report to find the issue.

Here are some reports that you need to check to verify data accuracy:

• Reconciliation Report:
  • This report ensures that all imported transactions are reconciled, meaning they appear in both the account and on the bank statement.

• Trial Balance:
  • The Trial Balance contains balances for each account in your company file.
  • Match the balances as of the conversion date, and investigate any discrepancies in specific accounts.

• Aging Reports:
  • Use Aging Reports to analyze customer and vendor balances.
  • Ensure that the Total Outstanding Balance for Customers and Vendors matches the balances for accounts payable and accounts receivable accounts.

• Journal Report:
  • The Journal Report helps identify errors and facilitates troubleshooting in Sage Intacct.
  • It allows you to fix any discrepancies and ensure data accuracy.

By following these steps and checking the mentioned reports, you can identify and rectify any errors in your Sage Intacct data, ensuring a smooth transition from QuickBooks Online.

Set a lock date in Sage Intacct.

After migrating your data from QuickBooks Online to Sage Intacct, consider closing the books and setting up a password to prevent unauthorized users from making changes to historical data. This security measure ensures that only authorized users can modify past data. Thank you for your attention.

With a Sage Intacct subscription, you gain access to valuable resources and online training material: your team members and employees can use these resources to gain a better understanding of Sage Intacct's features and functionalities.

Our data migration experts will be available to assist you and your team during the first month after the migration, ensuring a smooth transition.

We can further provide services for:

• Third-Party Integrations: If you require third-party integrations with platforms like HubSpot or Salesforce, you can reach out to us for assistance.

• Additional Modules: We can help configure additional modules to extend the functionality of Sage Intacct based on your specific business needs.

These resources and support options are designed to help you make the most of your Sage Intacct subscription and optimize your accounting processes. Constant support from our experts will ensure that you get the desired results from the accounting solution you’re choosing to invest in.

Key takeaways.

Migrating from QuickBooks Online to Sage Intacct can be a seamless process when following the proper conversion steps. By planning the implementation, configuring the system, migrating the data, conducting testing and training, and providing post-implementation support, businesses can successfully transition to Sage Intacct and maximize their ROI. It is important to ensure the accuracy of the migrated data through reconciliation and verification processes.

Utilizing data migration experts and automated tools can simplify and expedite the migration process. With Sage Intacct's resources, training materials, and additional support options, businesses can fully customize the accounting solution to meet their specific needs. If you are considering switching from QuickBooks Online to Sage Intacct, follow the guidelines outlined in this guide to ensure a smooth and successful transition.

FAQs

Q. Can you migrate data from QuickBooks Online to Sage Intacct?

A. Yes, you can migrate data from QuickBooks Online to Sage Intacct. Most transaction details can be migrated seamlessly. However, please note that custom reports and templates created in QuickBooks Online cannot be transferred to Sage Intacct.

Q: How long does it take to migrate data from QuickBooks Online to Sage Intacct?

A. The implementation process takes anywhere from 30 to 60 days, and data migration is completed within that period. You can expedite the data migration process by converting only the balances for a single year and transferring them to Sage Intacct.

Q. What data can be migrated from QuickBooks Online to Sage Intacct?

A: All transaction details, including invoices, journal entries, sales, sales receipts, credit memos, and delayed credits, can be migrated from QuickBooks Online to Sage Intacct. However, it's essential to format the data correctly to ensure it can be ingested into your new accounting solution.

Q. What is the cost of data migration from QuickBooks Online to Sage Intacct?

A. The cost of data migration from QuickBooks Online to Sage Intacct can vary depending on several factors, such as the complexity of your data, the volume of data to be migrated, and any additional customization or integration requirements. Our experts can help you figure out the cost during the planning stage of Sage Intacct implementation.

Q. Can I transfer all transactions from QuickBooks Online to Sage Intacct?

A. Yes, you can transfer all transactions from QuickBooks Online to Sage Intacct. It is possible to migrate transaction details such as invoices, journal entries, sales, sales receipts, credit memos, and delayed credits from QuickBooks Online to Sage Intacct. However, it is important to format the data correctly to ensure a smooth transfer.

Q: How to verify the accuracy of data migrated from QuickBooks online to Sage Intacct?

A. To verify the accuracy of the data migrated from QuickBooks Online to Sage Intacct, you can follow these steps:

1. Compare Opening Balances: Match the opening balances in reports from QuickBooks Online with the balances in Sage Intacct. Use reports such as the Trial Balance and Aging Reports to ensure consistency.

2. Reconcile Accounts: Reconcile all accounts in QuickBooks Online before exporting the data. This helps identify and rectify any errors, duplicate transactions, or missing entries.

3. Check Invoices and Bills: Transfer all data related to unpaid invoices and bills from QuickBooks Online to Sage Intacct. Match the balances in the Accounts Payable and Accounts Receivable accounts to ensure accuracy.

4. Match Key Reports: Create the same reports in Sage Intacct as those exported from QuickBooks Online. Match the balances and investigate any discrepancies.

5. Use Journal Report: Utilize the Journal Report in Sage Intacct to identify errors and troubleshoot any issues. Make necessary adjustments to ensure data accuracy.

By following these steps and cross-referencing the data between QuickBooks Online and Sage Intacct, you can verify the accuracy of the migrated data and ensure a smooth transition.

Q: What is the cost of migrating data from QuickBooks Online to Sage Intacct?

A. The cost of migrating data from QuickBooks Online to Sage Intacct can vary depending on several factors, such as the complexity of your data, the volume of data to be migrated, and any additional customization or integration requirements. Our experts can help you figure out the cost during the planning stage of Sage Intacct implementation.