QuickBooks Online Integration to Xero migration - Task list

QuickBooks Online Integration to Xero migration - Task list

In this article, we'll go over the steps required from you, the client, to ensure a smooth migration of QuickBooks Online>Xero. The cost of migration from one accounting software integrated with Loft to another is $300 USD.  Please be sure to follow all of the instructions. If you don't wish to complete the prep prior to the migration date just give support a heads up and we'll assist at $75/hour.

Important - Please read before you proceed!

DO NOT disconnect your current Connection to QuickBooks Online
DO NOT cancel your current QuickBooks Online Account until AFTER the migration occurs.
Because QuickBooks Online will be removed as your accounting integration in Loft, that connection to QuickBooks Online will be broken and essentially gone, like a closed road, this means ALL transactions prior to your migration can not be pulled back out of QuickBooks Online, therefore, the following actions can not be done for all deals paid out before the migration:
  1. Changes or corrections to deals
  2. Removing transactions

It's important to know this because if you're planning on switching to Xero for a certain date, you will need to make sure all your deals are correct in Loft and if not, make any corrections to those deals before your migration date.  Also, any deals prior to migration can not be batched to Xero.

Subscribe to Xero

Your account must be Standard subscription

Xero preparation tasks

In Settings>Advanced

  1. Set up your Xero's financial Settings https://central.xero.com/s/article/Set-up-your-organisation-s-financial-details
  2. Set up your Tracking Category as Office, learn more here https://central.xero.com/s/article/Set-up-tracking-categories-GL
  3. Confirm your Office(s) is set up under your Category as Category Options.  You can view your offices on your Brokerage page, make sure they're spelled exactly alike in Xero

  1. Export your COA out of QuickBooks Online: https://quickbooks.intuit.com/learn-support/en-us/reports-and-accounting/how-to-export-chart-of-accounts-to-excel/00/803653#M113097
  2. Import your COA into Xero: https://central.xero.com/s/article/Import-a-chart-of-accounts-GL
  3. Ensure your current G/L Bank accounts, G/L account codes, Mapping accounts & G/Ls used in Deduction Templates are set up in Xero, this will happen organically when you import your Chart of Accounts, so that we can map from the QuickBooks Online general ledger account to the Xero general ledger account. 
  4. If applicable, Tax accounts must be set up (CDN clients only) https://central.xero.com/s/article/How-your-default-tax-rate-and-account-settings-work

Things to note

 Don't load your agent contact list into Xero, the first Loft47>Xero Sync will load the agents into Xero!

Invite Loft

Once everything on this list has been completed, invite lofttechnologies@loft47.com as an Advisor Role. This is the trigger for us to schedule development to run the accounting conversion.  Please note the migration can take up anywhere from 24 to 48 hours after being scheduled.




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