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Conversion from MYOB to QuickBooks

Conversion from MYOB to QuickBooks is possible, athough it is not as straightforward as either company would have you believe.

It’s important we preface our remarks by noting that the Australian versions of MYOB and Quickbooks are different from the USA versions. A basic difference is that the Australian tax year runs 1 July to 30 June whereas in the USA, the fiscal year is from 1 October to 30 September each year.

For conversion from MYOB to QuickBooks files, you should consider the following:

1) You can easily transfer your “Card Files” such as suppliers, customers, employees between MYOB and QuickBooks. It’s a simple export – import procedure.

2) However, if you need detailed transactions recorded, i.e itemised invoices to be transferred, then that’s where things get a little tricky.

3) The best option, if practical, is to start a new file using your  QuickBooks software at the beginning of the financial year

4) If your business is only small with not a lot of money to throw around, then you could just export all your General Ledger postings (generated by the respective modules) to get the balances up to date in the new file rather than re-enter all the previous data

We haven’t found a cheaper way to do it. We’ve looked at this problem many times before.

You can purchase a software program that will do this for you, but it  costs around US$400. But when you factor in the time it takes to extract the data from MYOB into this software, then extract it out into QuickBooks, it doesn’t appear to be worth the time spent for what you pay for it. I mean, it’s not an exercise you do regularly, just a one-off thing.

There are some other considerations. How often do you need to refer back to your previous MYOB files? Do you own the MYOB software? If so, then you will still have the ability to look up details of transactions if and when you need to refer to them?

If Conversion from MYOB to QuickBooks is an issue for you, feel free to contact us for assistance. This can be done online or in person. Whether we are just training you how to do it, or doing the complete process for you, our regular hourly rates will apply.

Updated: August 9, 2013 — 10:04 pm

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