QuickBooks Online Integration to Xero migration - Task list

QuickBooks Online Integration to Xero migration - Task list

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Important message
Migration Prep Steps

!!Important Message!!

QuickBooks Online >> QuickBooks Online Migration

You can migrate to either Xero or to another instance of QuickBooks Online, the process will be the same and requires you to reach out to our support to begin the process.

Cost

The cost of any migration is $300 USD.   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 an additional $75/hour.

Please be sure to follow all of the instructions/steps below to ensure a smooth and timely migration and make sure you
  1. DO NOT DISCONNECT your current Connection to QuickBooks Online in Loft.
  2. DO NOT CANCEL your current QuickBooks Online Account until AFTER the migration occurs. (We suggest that you hold onto your  Account for at least a month after migration, unless you are confident that your deals  are without any errors or issues.
  3. DO NOT LOAD/ADD your agent contacts into Xero. Your first 'Xero Sync' will push/Sync the agents contact to your Xero Account. 
Since QuickBooks Online will be removed as your accounting integration in Loft, the connection between the two apps will be permanently severed.  Think of that connection like a two way road, once disconnected, the road will become closed both ways, this means ANY/ALL transactions posted to QuickBooks Online, from Loft, prior to the migration can not be pulled back from Xero, therefore, the any incorrect deals that need to be fixed can not be fixed after the migration, so it's best to make sure all your deals are correct before you migrate!

Preparation Steps

Subscribe to Xero

Your account must be Standard subscription

Xero preparation tasks

In QuickBooks Online

When migrating from QuickBooks Online to Xero, you must first set up your Xero/Settings to be closely matched to how your QuickBooks Online is set up.  This will ensure a timely migration!
Our recommendations, to accomplish this, are as follows:
    1. Either setup your new Xero Chart of Accounts to match your current QuickBooks Online's Chart of Accounts.  Or import your Exported  QuickBooks Online's Chart of Account. If you are looking to clean up your Chart of Accounts for your migration, we suggest you do your G/L cleanup AFTER your migration you may miss crucial G/L accounts mapped in your Loft/QuickBooks Online integration.  Cleaning up before the migration may cause issues because the migration requires specific G/L mapping in both your Settings and deductions in Loft.

In Xero

To setup your Xero Account, follow the steps in this article https://support.loft47.com/portal/en/kb/articles/howtosetupnewxeroaccount
Please make sure each of the following below are setup correctly in Xero:
    1. Financial Settings (Fiscal reporting dates)
    2. Ensure G
      /L numbers are present in your Chart of Accounts. Loft can not find a G/L Account in your Chart of Accounts without a number assigned to it!
    3. Identify whether you are using Class or Location for Office tracking/mapping (one must be turned on)
    4. Set up your Tracking Category as Office, learn more here https://central.xero.com/s/article/Set-up-tracking-categories-GL and the offices in Xero are spelled exactly as they are in your Loft/Offices page. You can also view your offices on your Loft/Brokerage page.
      *If you're Importing your Chart of Accounts to Xero, follow the steps/instructions in this article https://central.xero.com/s/article/Import-a-chart-of-accounts-GL
    5. 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

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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