After migrating from QuickBooks Desktop to QuickBooks Online (QBO), or copying an existing QBO file, you need to verify that the data is correct. This is important for avoiding any sort of errors in your accounting file. You can do this manually, or you can use Rewind for a faster and smoother process.
In this guide, learn how to:
- Verify and compare the original and destination files
- Connect, sort, and filter banking transactions
Comparing and Verifying Data
You need to make sure that the file is the way you anticipated it to be, and the data from the destination file matches the originating file. Run a series of reports and compare them to the reports run from the original file. Open the reports from the new file in QuickBooks. You can download them into an Excel file and review the new and old reports side-by-side. Ensure that the data in the new file is the same as the data in the old file.
Compare the trial balance, the clients, customers, and vendors, the chart of accounts, and the products and services. Click the “Overview” tab and ensure that all the information looks the same in both files. If you are using Rewind, the company will send you an email when the file is ready. Rewind will outline the successful files and any failed transactions. Make sure you carefully check your file against the success/failure report from Rewind. You can check those transactions and recreate or change them as necessary.
Connecting and Sorting Banking Account Transactions
If you are not using Rewind, go into the “Banking” tab and reconnect the bank accounts to bring the information in. Once the bank account is up and running, ensure that it is not bringing in duplicate transactions. In a new file, it will bring in three months of transactions.
Sort and filter these transactions by date and click the duplicated transactions from old or closed periods. Exclude them. Create a new reconciliation to ensure that the file is clean. Once this is done, delete the excluded transactions.
Whether you are using a Rewind file, a copy, or you are manually entering data, you also need to add the “bank rules.” Create quick rules from transactions. For the first little while, do not auto-categorize anything to make sure the bank feeds are running smoothly.
Once the rule is set, save it. The rule will then be automatically added. After verifying the data and creating rules, you have successfully migrated your information to QBO.