AboutLinda Saltz, CPA, QBalance.com Expertise QuickBooks best practices, troubleshooting, accounting, tax
We have over 70 pages of website content about QuickBooks tips,
running a business, tax and business startup at http://www.qbalance.com
Experience Accountant and CPA over 20 years. Specializing in accounting software for over 12 years, Certified QuickBooks Pro Advisor, QuickBooks seminar instructor since 1997.
Producer of www.QBalance.com over 100 pages devoted to QuickBooks help and support
and training for small business owners in tax and accounting issues.
Question How would I go about converting Quicken over to our Quick Books program? Our Quicken program is located on hard drive computer. We have network system with Quick Books on it and we want to take the acct. info from Qucken and put into the Quick Books program. Can this be done. P.S. I am fairly computer illiterate.
Answer Hi Peggy,
Converting Quicken to QuickBooks
You can covert Quicken files to QuickBooks. You cannot convert a Quicken for Dos 1-4 file to a QuickBooks file. Neither can you covert a Quicken for Mac 7 through 2001 to a QuickBooks File.
The conversion process is done in several steps. In Quicken, categories need to be changed or deleted, memorized transactions adjusted, inactive customer and vendor names deleted. Once the Quicken file is prepared, the actual conversion takes less than 5 minutes. Be sure to copy the Quicken file before preparing the Quicken file for upgrade to QuickBooks. The new QuickBooks file will need to have adjustments to customize the software to meet your needs, correct opening balances, clean up list items and adjust your chart of accounts. We offer support with the conversion service, if you need further help. is
Step 1. - make a backup
Review the accounts in Quicken and remove those that are inactive or not business related. Delete all accounts that you do not want to import into QuickBooks. Quicken will allow you to delete accounts that have activity.
If you use Quicken on-line banking feature, check with your bank to see if the bank interfaces with QuickBooks the same way you do with Quicken. If not, QuickBooks does offer, for a fee, on-line bill payment. Before the file is converted, delete any repeating online payment instructions in Quicken and send the deletion instruction to the financial institution. QuickBooks does not support repeating online payments, so you cannot delete or modify once in QuickBooks. In QuickBooks you can schedule payments using memorized transactions. After the file is converted you will need to enable your bank account for online banking.
If you are using Quicken Home & Business, check the names in the accounts receivable register. the names used for Invoices must match the names used for payments. Names in the accounts receivable register become customer names and transactions become invoices and payments in QuickBooks. If the names do not match, QuickBooks will not link the invoices to the payments correctly. For example "The Widget Store" could also be listed as "Widget Store" so pick one and change the other so you are left with only one name for each customer.
If you use memorized and scheduled transactions. Turn on the memorizing transactions option in Quicken so that the lists are updated automatically. Organize all the transactions that you want to keep in transaction groups. Only those transactions in groups are converted. Include only information from the current fiscal and calendar year.
QuickBooks does not convert recurring invoices
Step 2. Open QuickBooks > File Menu > Import > Convert Quicken
QuickBooks wizard will guide you through the rest.
Step 3. Edit the other names moving names to the customer, vendor and employee lists.
List menu > Other names > at the bottom of the Other names window, click on the activities button and select "change other name types.
Step 4. Complete the company information window
Company Menu > Company information
Step 5. Review all the preferences and set up the way you would like to use QuickBooks
Edit Menu > Preferences > Review and modify both personal and company preferences.
Step 6. Set-up your item list that you will be using to invoice customers and purchase goods and services for resale.
Lists > Items
Step 7. In Quicken if you used an 'other liability account' to book your accounts payable. QuickBooks will convert to the same named account "other liability account". To payoff these entered but unpaid transactions, use a write check form and code to the other liability account. For all new unpaid bills use the "enter bill" form and the "pay bill" form. Both of these forms will produce accounts payable reports and link the payments to the vendor bills for easy tracking.
Step 8. Look through your Expense account to see if any should be edited to become asset or liability accounts. If you do make the change, prepare a journal entry that will correct the balances (offset to opening balance equity account)
Step 9 Set up the Equity accounts on your chart of accounts
see our sample of a QuickBooks Chart of Account List
Step 10 Edit expense accounts that represent your direct costs and make them Cost of Goods Sold type accounts.
Step 11. Edit income accounts and make inactive any account that you will no longer be using.
Hope this helps,
Linda Saltz, CPA
www.qbalance.com
We provide QuickBooks support and sell QuickBooks software and supplies at a discount
