QuickBooks Data Migration extension is an effective tool that helps you easily move your customers, vendors, items, and accounts from QuickBooks to Microsoft Dynamics 365 Business Central.Moreover, it provides an assisted setup guide to upload your QuickBooks data into Business Central, so you can keep your important business information organized and up to date in one place. Similarly, it also saves you time and hassle in getting your business information over to Business Central.
Why is the QuickBooks Data Migration Extension Important?
As of April 30th, 2023, Intuit’s QuickBooks products and services will no longer be available in India. QuickBooks is shutting down its operations in India, so it is now more important than ever for SMBs to switch to a new ERP solution. Business Central offers a few helpful built-in extensions like the QuickBooks Data Migration extension to make business data transition and migration much easier for companies. Additionally, it helps you keep your information up to date, which is always important for efficiency and productivity.
How Does the QuickBooks Data Migration Extension Work?
The QuickBooks Data Migration extension makes importing data from QuickBooks Online to Business Central easy. For example, it includes Customers, Items, Vendors, Chart of Accounts, Beginning Balance transactions in General Ledger. It also includes On-hand Quantities for Inventory Items, & Open documents for customers and vendors – such as invoices, credit memos and payments.
It is a great tool for businesses who want to migrate sales and purchase documents in full. But it does not have the capability to update partially paid amounts. Moreover, If your business has received partial payments, you will need to update these manually. However, you can do so before or after you migrate your data. To make things easier down the road, it is best to apply outstanding transactions before you migrate.
To ensure that your QuickBooks transactions are properly posted in Business Central, you’ll need to make sure that each general ledger account in QuickBooks has an account number assigned to it. In addition, you’ll need to set up a tax account for each of your tax jurisdictions in QuickBooks so that your transactions will flow smoothly between the two platforms.This way, you can be sure that your transactions are valid and compliant with all relevant laws and regulations.
Moreover, to get your data out of QuickBooks desktop and into Business Central using the QuickBooks Data Migration extension, you’ll need to download and use the Microsoft Data Exporter Tool. The tool will connect to your QuickBooks application and export the applicable data to a .zip file. Once you’ve migrated your data, transactions will have the status Unposted in Business Central. This gives you a chance to review them and make any necessary adjustments if required.
Similarly, before you post any transactions in QuickBooks that have markup or discount amounts, you must first add those amounts to the related transactions in Business Central. If you’re using value-added tax (VAT), you might need to add a business posting group and a product posting group to the posting setup so that you can post VAT amounts. Also, be sure to check the beginning balances for accounts in the general ledger. Besides, QuickBooks doesn’t store the current balance for all accounts, so you might need to adjust the beginning balances accordingly.
Here at Dhyey Consulting, we have over a decade of experience in Business Management Consulting. In light of QuickBooks recent announcement to shut down its India operations, we understand how significant of a change this is for your business. Our team of experts can help with everything from evaluation to go-live, ensuring a smooth transition for your organisation if you choose to upgrade to Microsoft Dynamics 365 Business Central.
We understand how difficult this time may be, but we want to remind you that our team is here to help make the transition as seamless as possible. For more details, do write to us at email@example.com.