Occasionally, we have businesses approach us that ask if we can help them migrate from their current software to Xero. For this process, we use a service called Jet Convert. There is further details about how this process works on the Jet Convert website, but we have summarised below the process on what needs to be done when we help a business migrate from MYOB to Xero.
The conversion process is a fragile process. If you are not an experienced bookkeeper, it is easy to can create a significant mess of your business accounts. It is best to use this opportunity to have an experienced professional support you during this time so you get off on the right foot – and get trained in every part of Xero that is relevant to your business.
MYOB Preparation Checklist
The cleaner your file – the smoother your conversion to Xero. The following MYOB file types can easily be migrated to Xero, along with two years of transaction history, which is helpful for prior year analysis:
- AccountRight Live
- AccountRight Enterprise depending on how it has been used (AU only)
- All other AccountRight versions
WE DO NOT CONVERT:
- MYOB Essentials
- Multi-currency or multi-location files
- Files with negative inventory
- Files >800MB
- If the file uses WET/WEG
If you are currently using one of these versions of MYOB, then we would encourage you to wait until the end of your financial year, and then we will import the opening balances for all your accounts. To access history, you will need to use your MYOB (which generally turns to “read only” when you cease your subscription).
What NOT to do prior to having iKeep convert your MYOB file to Xero:
- Do not start a Xero subscription. We will create a new Xero subscription for you. If you have already started a Xero subscription you can now close it.
- DO NOT ROLL YOUR MYOB FILE. If you have already rolled your MYOB file DO NOT ATTEMPT TO ROLL BACK AGAIN.
- Do NOT change any account types in MYOB prior to conversion.
Important File Preparation:
ATTENTION: Please note if the Important File Preparation is not completed prior to upload additional charges may apply. If you are not comfortable processing the above steps we have approved trainers who regularly process conversion and can handle this process for you.
- Check what data will and won’t convert against your specific needs
- Ensure MYOB is set to the correct GST accounting basis (cash or accrual) [Go to Set up, company information, BAS information].
- Check how your bank accounts and credit cards are set up in MYOB.
*WARNING: Some banks require credit cards to be set up as bank accounts in Xero in order to connect bank feeds.
- Reconcile Accounts Receivable/Accounts Payable – review the AR/AP detailed reports and ensure all invoices/bills and credit notes are current. Apply all credit notes unless current.
- Ensure that Accounts Receivable, Accounts Payable and GST accounts do not have Account type as Bank Account.
Optional File Preparation:
The following steps are not essential, but if you can complete them, it will ensure that you have the best possible conversion experience
- Check that the balances in all reconciled bank accounts and credit cards match the bank statements as of the last reconciliation date.
- Confirm that the Accounts Receivable/Accounts Payable reconciliation report balance matches the balance in the General Ledger.
- Check how non-standard tax codes are treated.
- Ensure all clearing accounts are reconciled to NIL.
- Ensure all bank transactions you want converted are coded.
- Run a verification of the MYOB file (File > Verify Company File). If errors occur, we can fix these for you under our Accelerate Package.
- Check that all employees have an accurate USI/SPIN
- Pay Superannuation to date through the MYOB file (if applicable)
- Create a backup of the MYOB file
- Upload the backup to us