Sage 50 to QuickBooks Online

Migrating your accounting software from Sage 50 to QuickBooks Online is a significant step toward optimizing your financial management. Once the conversion process is complete, it’s crucial to ensure everything is functioning smoothly. Here’s a comprehensive post-migration checklist to help you verify that your data and workflows are correctly set up in QuickBooks Online.

Post-Migration Checklist for Converting Sage 50 to QuickBooks Online

Here’s a comprehensive post-migration checklist to help you verify that your data and workflows are correctly set up in QuickBooks Online.

1. Verify Data Accuracy

a. Check Financial Reports:

• Compare financial statements in QuickBooks Online (QBO) with those from Sage 50 to ensure accuracy.
• Review your balance sheet, profit and loss statements, and trial balance to confirm all figures align.

b. Review Transaction History:

• Verify that all transactions, including invoices, expenses, and payments, have been accurately migrated.
• Look for any discrepancies or missing entries and address them promptly.

c. Validate Account Balances:

• Ensure that all bank and credit card account balances match between Sage 50 and QBO.
• Reconcile any differences by cross-referencing bank statements.

2. Test Functionalities

a. Run Test Transactions:

• Perform sample transactions such as creating and recording invoices or making payments to check if processes are working as expected.

b. Test Integrations:

• If you use any third-party integrations or apps with Sage 50, ensure they are properly integrated with QuickBooks Online and functioning correctly.

3. Review and Set Up User Permissions

a. Confirm User Access:

• Verify that all users have the appropriate access rights and permissions in QBO as they had in Sage 50.
• Set up any new users and assign the correct roles and permissions.

b. Train Your Team:

• Provide training or resources to your team members to familiarize them with QuickBooks Online’s features and workflows.

4. Update Banking Information

a. Reconnect Bank Feeds:

• Set up bank feeds in QuickBooks Online to ensure your accounts are connected for automatic transaction downloads.
• Verify that transactions are importing correctly and reconcile them with your bank statements.

b. Update Payment Processing:

• Update any payment processing systems or merchant accounts to work with QuickBooks Online.

5. Check for Data Consistency

a. Review Customer and Vendor Records:

• Ensure that all customer and vendor details have been migrated accurately, including contact information and payment terms.

b. Validate Inventory Data:

• If you manage inventory, check that all inventory items and quantities are correctly reflected in QuickBooks Online.

6. Reconcile and Verify Historical Data

a. Perform Reconciliation:

• Reconcile your accounts for the last period before migration and the first period after migration to ensure accuracy.
• Investigate and resolve any discrepancies.

b. Check Historical Transactions:

• Review historical transactions to confirm that they have been accurately migrated and that historical data aligns with your records.

7. Review Customizations and Settings

a. Verify Custom Templates:

• Ensure that any custom invoice templates, reports, or forms are correctly set up in QuickBooks Online.

b. Review Company Settings:

• Check company settings such as tax rates, chart of accounts, and fiscal year settings to ensure they are accurate.

8. Backup Your Data

a. Create Backups:

• Although QuickBooks Online automatically backs up your data, consider exporting a backup of your data for additional security.

b. Document Migration Process:

• Keep a record of the migration process, including any issues encountered and how they were resolved.

9. Monitor and Adjust

a. Ongoing Monitoring:

• Regularly monitor your accounts and transactions for the first few months after migration to catch any issues early.

b. Make Adjustments:

• Adjust any settings or workflows as needed based on your observations and user feedback.

10. Seek Support if Needed

a. Contact Support:

• If you encounter any issues or need assistance, don’t hesitate to contact QuickBooks Online support or consult with a professional accountant who is experienced with the migration process.

b. Consult Resources:

• Utilize QuickBooks Online resources, including help articles and community forums, for additional guidance and troubleshooting.

By following this post-migration checklist, you can ensure a smooth migrate from Sage 50 to QuickBooks Online and maintain the integrity of your financial data.