QuickBooks to Zoho Books Migration: 5 Tips to Migrate within 10 Days

As a business owner switching from one Software to another can be a burden. But if it’s for organisation’s benefit, you don’t give it a second thought. The process of migrating the data can be troublesome, also affecting the efficiency work force to an extent. Here are some tips to make your migration process a little smoother and faster.  

Tip 1  

Import expenses all together rather than categorizing each transaction from bank statements

Tip 2

Import sales entries as Journal entries rather than categorizing each transaction from bank statements

Tip 3

Setting up categorization rules within Zoho Books

Bank feeds can be automatically sorted into different categories using Transaction Rules. Using the banking module's transaction rules, you can locate and classify financial dealings according to your own personal criteria.

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How to add new rule?

-Navigate to Banking and choose the bank account for which the transaction rule is to be

created.

-Select Manage Transaction Rules from the Settings menu next to the Import Statement

button.

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-Click “New rule” on top right corner and enter a name for it.

-Select whether the transaction rule should apply to deposits or withdrawals.

You can choose when to categorize various transaction types:

-If you only want to classify the transactions if they meet all the criteria you've set out, select All the following criteria matches.

-If you want to classify the transactions when the bank statement satisfies any of the criteria you have selected, select Any one of the following criteria matches.

You can now input the criteria by which you wish to categorize transactions. For both deposits and withdrawals, you have the following options:

-Payee: The Name of the individual or business with whom the transaction would occur. This should correspond to the moniker displayed in feeds.

-Description: The description field is for any supplemental information or notes related to the transaction that is to be recorded.

-Reference Number: The unique identifier for a particular business exchange. It can be either autonomously generated or documented by hand.

-Amount: The amount in the transaction.

For categories such as Payee, Description, and Reference Number, the matching criteria will be provided in the following box, labeled as-is, contains.

-Is: The payee's name, description, or reference number must correspond precisely with the

name specified in the transaction's criteria.

-Contains: Any part of the criteria in the transaction may be included in the name,

description, or reference number of the payee.

-Starts with: The criteria entry must be first in the transaction's payee name, description, or reference number.

-Is Empty: There should be no information in the payee name, description, or reference

number fields.

For the Amount type, the matching criteria will be,

∙= : Equal to

∙> : Greater than

∙>= : Greater than (or) equal

∙< : Lesser than

∙<= : Lesser than (or) equal

Record as

If you choose Deposits for the Apply To field, the Record As drop-down menu will change to reflect your selection.

You can record your transactions as per the options provided in the Record As drop down after selecting Withdrawals as the Apply To option.

-Account: Where the money needs to go in order for the transactions to take place.

-Remitted by: means ofChoose your preferred method of payment from the menu provided.

-Reference Number: Take the guesswork out of finding the reference number by using Value from Bank Statement. Choose Enter Manually if you'd rather key in the citations yourself.

-Recognized Transactions: Choose this if you wish to manually sort your bank statements into categories.

-Categorized Transactions: Choose this if you want Zoho Books to automatically sort your transactions into these categories.

-If you chose Categorized Transactions, you can have Zoho Books automatically sort your

bank statements into those categories.

-Save

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How to edit a transaction rule?

-Select the account to which the transaction rule was added and click Banking.

-To modify the rules that govern which transactions are imported, pick the Settings cog next to the Import Statement button.

-Choose the rule for a transaction that you wish to update and click it.

-Save  

How to delete transaction rule?

-Go to Banking and select the bank account to which the transaction rule was applied.

-Select Manage Transaction Rules by clicking the Settings icon found adjacent to the Import Statement button.not available closest to the button.

-To delete a transaction rule, click the Delete button next to the rule.

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Tip 4

Follow the Migration Process

Perquisites

Before migrating any data, you will need to complete the two procedures below:

-Create your Zoho Books business

-Exporting Information from QuickBooks Online

1. Create Your Zoho Books Business

You must build up your organization in Zoho Books and ensure that all required information is saved. Here's how to proceed:

-Sign in to your account with Zoho Books.

-Go to Settings > Organization Profile.

-Provide your organization's information.

-At the bottom of the document, click Save.

When establishing up your business in Zoho Books, it is also essential to include all applicable taxes.

To add taxes in Zoho Books, follow these steps:

-Go to Settings > Taxes.

-In the upper right corner of the page, click the + New Tax button.

-Enter the Name and Rate of the Tax.

-Choose a Tax Authority from the drop-down menu or enter it manually to submit it.

-Select Save.

Similarly, you can add Tax Exemptions and Tax Authorities based on the needs of your business.

Following this, you must export specific reports from QuickBooks Online before importing them into Zoho Books.

2. Exporting Information from QuickBooks Online

After setting up your business in Zoho Books, you can begin transferring data from QuickBooks Online to Zoho Books.

General Accounts

First, export all necessary data from QuickBooks Online. When importing into Zoho Books, guarantee the following:

-All fields in the import file adhere to the specified order.

-All required fields are present in the import file.

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Here is a rundown of the QuickBooks Online exportable reports:

-Accounts List:

-Customer Contact List

-Vendor Contact List

-Products/Services List

-Inventory Valuation Detail

-Trial Balance

-Sales by Product Service

-Purchases by Product Service

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To view and export the above reports:

∙Log in to your QuickBooks Online account.

∙Go to the Reports module.

∙Select the report you want to export.

∙Click the Export icon on top of the page and select Export to PDF or Export to Excel.

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Migration process

You can start the conversion process once you have exported all the necessary data from QuickBooks

Online.

There are two methods for making the switch from QuickBooks Online to Zoho Books:

-Import Transactions of the Current Financial Year (Recommended)

-Import Historical Data

Recommended import transactions for the current fiscal year In this method, you would need to input the opening balance date as the date you began the current fiscal year (i.e., 1st October) and include both your current transactions and those that occurred prior to the opening balance date.

You would need to input the closing balances of the accounts on that date and import the open transactions into Zoho Books.

We recommend using this method for importing data into Zoho Books. In this assistance document, we will adopt this strategy.

Import Historic Information You have the option of entering the opening balance date as the date you actually began your business and importing all transactions created since then.

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Migration process:

In Zoho Books, there are numerous modules containing business-related information. For instance, the Chart of Accounts module includes all of your organization's accounts, while the Items module includes all of the products and services you purchase or sell.

Based on the previously exported reports, we will now examine how you can import all the data exported from QuickBooks Online into the modules in Zoho Books.

For a seamless migration, you must follow the steps in the order specified on this page.

Import Chart of Accounts

The Chart of Accounts in Zoho Books consists of a list of predefined accounts, most of which will be similar to the accounts in QuickBooks Online. So, when you’re importing these accounts into Zoho Books, you can skip the duplicate accounts and import just any additional accounts that you have.

To import the chart of accounts into Zoho Books:

∙Log in to your Zoho Books account.

∙Go to the Accountant module in the left sidebar.

∙Select Chart of Accounts.

∙Click the Settings icon in the top right corner of the pager.

∙Select Import Chart of Accounts.

∙Select the import file to upload it from your computer (see the Accounts List report for

details). If you need to make any adjustments to your file before uploading it, you can check

the import file format and obtain a sample by clicking the link above.

∙Click Next.

∙In the Map Fields page, make sure that the fields in Zoho Books are mapped to the

corresponding fields in your import file.

∙If you wish to Save these selections for use during future imports to use similar format for imports in the future, mark the corresponding box.

∙Click Next.

∙Click Import.

You're done!

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Modify Preferences

The Settings tab in Zoho Books allows you to tailor the programme to your own needs. The page's Settings can be accessed via the cogwheel in its upper right corner. Here, you need to set up the following:

-Enable Necessary Modules

-Set Preferences for a Module

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Enable Necessary Modules

Quotes, Timesheets, Recurring Bills, and Debit Notes are just some of the modules available in Zoho Books. Only those that are essential to your operation need to be activated. To explain how:

-Select General Preferences from the Settings menu.

-In the Select the modules you would want to enable section, tick the boxes next to the ones

you need.

Here, too, you can specify the details of any discounts or taxes that will be applied to your purchases.

After making your selections, select the Save button.

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Set Preferences for a Module

After turning on the appropriate modules, your company can move on to setting their individual preferences. Each module is adaptable to the specific requirements of your company. That is to say:

-To adjust your preferences, select the Settings menu.

-From the menu on the left, choose the module you wish to edit.

Import Customers and Vendors

To import your customers and vendors into Zoho Books:

∙Log in to your Zoho Books account.

∙Go to Sales > Customers (for customers) and Purchases > Vendors (for vendors).

∙Clcik the Hamburger icon in the top right corner of the page.

∙Select Import Customers or Import Vendors.

For the Customers module, select Customers and click Continue

∙Click the Choose File button to upload the import file (refer to the Customer Contact List report). You can download a sample csv file or a sample xls file to view the

format of the import. You can also choose to Skip or Overwrite the Duplicate Records.

∙Click Next.

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∙In the Map Fields page, ensure that all the fields in Zoho Books are mapped correctly to the fields in the import file.

∙Click Next.

∙Click Import.

Import items

For Zoho Books item import:

-Launch your books Zoho by signing in.

-Select the Items tab in the sidebar on the left.

-In the upper right corner of the page, you'll see a hamburger menu icon.

-Pick the option to bring in some new stuff.

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Select the import file (you can find it in the Product/Service List report) and click the Choose File button. If you want to see how the import works in practise, you can check out a sample file here. The duplicates can be ignored or overwritten at your discretion. The import file's Initial Stock field requires the previous day's stock of each item.

What's Next?

∙In the Map Fields page, ensure that all the fields in the import file and Zoho Books are mapped correctly (make sure that the mandatory fields mentioned above are also added and mapped correctly).

∙Click Next at the bottom of the page and import.

Add Bank or Credit Card Accounts

To link a bank account and access real-time financial data:

-Launch your books in Zoho by signing in.

-Select "Banking" from the menu on the left.

-In the upper right, you'll see a button labelled "Add Bank or Credit Card."

-Choose a financial institution from the list of top banks or use the search box to locate your bank of choice.

-Enter the credentials of the bank that you’ve selected and accept the Terms & Conditions.

-Click Continue to connect to your bank account.

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Import bank statements

If you want to import bank statements manually, you'll need to set up a bank or credit card account in Zoho Books first. Follow these steps:

-Launch your books in Zoho by signing in.

-Select "Banking" from the menu on the left.

-In the upper right, you'll see a button labelled "Add Bank or Credit Card."

-The option to manually enter your account information appears at the page's

bottom.

-Enter the bank or credit card details. You can make this bank account the primary

account by marking the box Make this primary.

The Import Statement button becomes available once you've added a bank or credit card

account. By selecting Add Transaction in Zoho Books, you can also keep track of their

transactions.

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Enter opening balance

To enter your opening balances in Zoho Books:

∙Log in to your Zoho Books account.

∙Go to Settings > Opening Balances.

∙Click the Edit icon on top of the page.

Sync transactions

You will need to manually sync imported transactions with the Opening Balances in Zoho Books if their dates are on or before the migration date. That is to say:

-Select "Opening Balances" under "Settings"

-Here you'll find a tally of all the retroactive purchases.

-Set the sync and click it.

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