Having carefully considered the benefits and advantages of moving to a cloud-based accounting system such as Xero you feel you are ready to change. So what now? Ian Woollard (Pearson Buchholz’s resident Xero accounting expert) discusses the finer points -
1. Start with your CRM data
This is the list of names and addresses you wish to convert into Xero. A very good tip here is to import the customer and suppliers with their account codes from Sage/Quickbooks first and amend after any large data imports.
2. Choose your conversion date wisely
If you are mid way through a year consider the impact of converting current year data.
3. When the invoice import files are ready for import, test it first on a single line
There are certain data fields that must be completed in a certain way. Ensure that the invoice is capable of approval without any amendments before the bulk data is imported.
4. Reconcile your data first
Importing poor/incorrect data inhibits the benefits of the system – converting at a year-end is recommended. Even if your data is subject to year-end journals, the bank, accounts receivable and accounts payable ledgers can come first with other nominal codes to follow as required.
5. Consider your reporting requirements first
From the nominal ledger codes through to the use of inventory items and tracking options. Consider exactly what management information you need. Where possible keep your effective systems and controls and remove ineffective and duplication of systems and controls. This is the area where talking to Pearson Buchholz first can have the most impact.
Ian has successfully converted several large organisations and is available for consultation on Xero conversions.