How to do a Quickbooks Online (QBO) - US only | Jet Convert

How to do a Quickbooks Online (QBO) - US only

Please note that this service is available for US clients only at this point in time. 

We are in the process of developing a full transactional history service for QBO which should be available by end Quarter 1 2019.  In the meantime we offer a balances only service which is fully subsidised by Xero.

What is converted

  • Chart of Accounts as per QBO
  • All Contacts
  • Conversion balances as of the start of the month
  • Open invoices and bills
  • Multi-currency is not currently supported.

Pre-conversion file preparation

Must-do

  1. Ensure that QBO is set to the correct accounting basis (cash or accrual).
  2. Do NOT change any account types in QBO prior to conversion.
  3. Do not start a Xero subscription prior to the conversion.

Optional

  • Turn on account numbers for your Chart of Accounts.
  • Verify multi-currency has never been turned on.
  • Remove duplicate any account names or numbers from your QB Chart of Accounts.
  • Check that balances in all reconciled bank accounts and credit cards actually reflect the statement balances as of the end of the previous month.
  • Finalize all bank reconciliations as of the end of the previous month.
  • Ensure all clearing accounts (including Undeposited Funds and Electronic Clearing Account) are reconciled to NIL.
  • Confirm that the Accounts Payable report reconciles to Supplier statements and that all unpaid invoices are still due.
  • Ensure all credit notes are applied unless actually unused.
  • Repeat points 3 and 4 for Accounts Receivable.
  • Ensure that all employees that are terminated have a termination date entered, rather than just being made inactive.

How to do the conversion with us

Step 1: Register your details

  1. Prepare QBO by following the instructions above.
  2. Click on the "Upload file now" button on the US Jet Convert webpage (www.jetconvert.com/us)which takes you to the registration page.
  3. Select Quickbooks Online and Load.
  4. You then need to click the blue button to go to your Quickbooks portal, and select the correct organization. 
  5. Leave the upload page, and then follow on screen instructions to allow Jet Convert to have access. (see photo below)

Part (b) Get the correct name of your organization

  • After you authorize jet Convert you will be taken back to the screen to enter your other contact details and proceed. Unless you have been provided with a Jet_promocode leave the field blank.
  • You will be provided with a Migration ID Number (a format such as nnnnnn).

Step 2: Invite Us Into your QBO

  • Back in QBO, please invite us in as a Company Adminstrator with email provided. Ensure also that you enter 'REF' as Firstname and our reference number 'nnnnnn' as Lastname.
  • (If you are using a Simple Start version, then you will need to invite us as a accountant as that version only allows a single user. It is a slightly different process.)

a) Settings / Manage Users

Click on the Settings button on the Top Right of your organisation. Then ManageUsers.

b) There is a wizard that runs through. Select Company Administrator.

 
Use the email address and reference number

 

After you finish this process, you can see the status of the invited user.

Step 3: We do the conversion

  • We will attach to your QBO account and extract the data.
  • The process continues and you will be asked to confirm bank accounts in the conversion process to Xero.
  • Wait up to 5 business days until your invitation to take over the new Xero Organisation.

Warning: Live files

Please note.  Quickbooks Online is a live system with bankfeeds active. We will do our best to complete the conversion as fast as possible. If you have bankfees or automatic invoicing then accounts such as AR or AP or bank balances will change daily. We will deliver the Xero org based on the status of the QBO data when we gain access to your entity.

Please click here to see how the data is converted - refer the section on "How Data Converts".  Note that payroll is not converted.