We create a Xero organisation based on Accounting Basis in your source file. It is recommended that you check this and correct if necessary prior to uploading the source file to us for conversion.
NOTE: for Australia Accounting Basis this should be set as per your GST Accounting basis.
Checking Accounting Basis
To check the MYOB file go to:
3. Click on the button
BAS info. You will find whether the company was set up with an Accounting Basis of cash or accrual and how it will be treated in the conversion.
Reckon and Quickbooks
There are two places in Reckon/QuickBooks files. Please make sure that both are set to the correct accounting basis.
1. Go to
Reports & Graphs. Here will define whether the company was set up as reporting on a cash or accrual basis. This basis needs to match your Accounting Basis for the purpose of the conversion.
5. Then go to
Company Preferences. The Accounting Basis in these two areas should be set the same to avoid confusion.
If the reporting here is not correct please update it before you
submit it to us
Changing Accounting Basis in Xero
WARNING: We recommend that you do not use the file until it has been corrected. Unless you understand the full accounting implication of the above steps there is a very high chance that the integrity of the data may be impacted by changes you make in the Xero organisation. This may not surface until sometime later and could result in major rework required.
These changes are quite technical and it is recommended they be performed by an accounting professional.