How to Convert QuickBooks Online to Sage 50?
Converting from one accounting software to another can be challenging depending on the business, how long you have been in the business. There is an unknown amount of delicate data you need to convert as well when you want to convert your existing software to new one. There are ample reasons due to QuickBooks Users’ wants for Convert QuickBooks Online to Sage 50 mainly when their business requirements do not meet up. And then they look for reliable and flexible clouds solutions with Sage 50.
For a successful conversion process, you need proper guidance so that you can easily handle your unique situation. This article helps you with the efficient processes that let you make the conversion process can be done in a hassle-free manner.
Intro of Sage 50:
Sage 50 is popularly known as Peachtree software is a comprehensive accounting solution for small and mid-sized business. It offers core features and functionalities such as customer management and financial reporting, A/R and A/P, etc. With simple, Sage50 cloud-connected features such as online payment, Microsoft Excel-based reporting, invoicing, automatic bank reconciliation and Sage payroll to more will help you to boost user efficiency.
The application is developed accounting and compliance controls that maintain accuracy and prevent common errors. Security functions include audit trails, suspicious transaction flagging and user access settings. Above all that, your data will be backed up locally or to the cloud. Moreover, advanced features tailor to certain industry segments, such as construction, distribution and manufacturing businesses.
Intro of QuickBooks online:
QuickBooks Online is a cloud-based financial and accounting management application for small businesses for its depth features, flexibility, and extensibility. It is user-friendly accounting software designed to serve a wide varieties of users and slash the time you spend in managing business finances. It helps you to make your many tasks easy such as: manage customers and suppliers, track sales and cash flow, plan ahead and budget, create estimates and invoices, etc.
QuickBooks Online can easily be accessed from any internet enabled mobile device using a web browser. It provides data accuracy all the time and helps you in eliminating manual accounting and human error related to manual bookkeeping. With QuickBooks Online, organize your data on the cloud. Additionally, you can track sales, create and send invoices, and know your business health at anytime, anywhere.
Advantage of Sage 50 over QuickBooks online:
The below are some of the points that make the difference from one accounting software to another.
- QuickBooks is generally used for small businesses that use bookkeepers. On the other hand, Sage is typically suited for small and mid-sized organizations with a CFO or Controller who need more industry-specific tailored features.
- QuickBooks takes your financial records, business data, reports, etc and organizes them for you so all of this information is easier-to-digest, read, and manage. On the other side, Sage facilitates, organizes and simplifies a variety of accounting tasks.
- QuickBooks is an ideal solution for businessmen who need a management tool to help them run their small to mid-sized businesses pretty easily and efficiently. On the other hand, the Sage offers a little for every kind of business, no matter what the size of the business but it is available at a variety of price points.
- Sage is an awesome application for creating financial reports, keeping records, and overall business management but QuickBooks allows you to keep up with payroll and other financial aspects of the business like expenses, sales, and purchases.
Steps to convert QuickBooks online to Sage 50:
Users can easily convert QuickBooks data to Sage 50 format. Before you move to the conversion process, go through the below pointers:
- The lists of QuickBooks that can be converted includes: Accounts, Vendors, Customers, Employees, Jobs, and Items, transactions and current balances.
- Before you click the links on the welcome screen, it is recommended that you read the details very carefully. It allows you to make sure the data from your business can be converted as quickly and efficiently as possible.
- You can only convert versions from versions that are up to three years old.
- The method of converting a company from QuickBooks to Sage 50 allows you to make a range of decisions on how you want the converted company to run in Sage 50.
To get the process of converting from QuickBooks Online to Sage 50 at ease then follow the below steps one after one:
Step 1: Prepare for the conversion before you start the conversion:
You must ensure that the QuickBooks Company is set up in such a way that Sage can read your data properly before starting to convert company data to the Sage 50 format. So that Sage 50 is easily able to convert the company information.
- Verify QB company name.
- In this step, you need to check that your company data includes a valid company name. To verify that:
- Go to the QB Company menu.
- Select Company Information.
- It displays a window called “Company Information”.
- Next, check whether you company name is entered within the field “Legal Name” because Sage 50 will convert what is entered in the Legal Name field as the name of your new Sage 50 company
- When done then click Ok.
- Verify QuickBooks company account types
Confirm that the QuickBooks Company has at least one of each of the following account types:
- Accounts payable.
- Retained Payable.
- Account Receivable.
- Print and process checks and bills.
- Print all the checks as well as forms.
- Process all the shipments.
- Authorize all your credit card transactions.
- Process and sync all the electronic bills.
- Reconcile all the bank accounts for the time before the conversion.
- Backup your QB company data.
At this time, you can back up your data from the QuickBooks company. Refer to the program’s online support or written guides for guidance on backing up your data inside QuickBooks.
Step 2: Follow the Conversion Wizards:
- Go to the File menu and then select “Convert a Company”
- Choose the QuickBooks Radio button and then click Ok.
You can also launch the Conversion wizard by choosing to open an Open Company QuickBooks company. Alternatively, on the Start Screen, select Convert from another accounting program, then select the QuickBooks radio button and then click OK.
Step 3: Using the Conversion Wizard:
The Conversion wizard consists of a set of windows with options and instructions. The first window, Welcome to the QuickBooks to Sage 50 Conversion window, tells you what sorts of things you can do in QuickBooks before the conversion begins. You can press the Next button to proceed when you are ready to begin the conversion. The windows that the wizard is made up of are:
- Which QuickBooks company are you converting.
- What would you like to convert?.
- Open company in QuickBooks.
- Loading QuickBooks Company.
- Review Account Numbers.
- Specify quote good-through dates.
- Specify proposal complete-by dates.
- Choose an accounting method.
- Choose the first period of your fiscal year.
- Choose the sales and expense defaults.
- Ready to convert.
- Review Lists.
- Conversion in Progress.
- Set up Employees and Payroll.
- Convert QuickBooks online to latest version Sage 50 complete.
The last window lets you know that the conversion has been completed. If you want to, you can access the conversion log to see what was converted and any errors that have been encountered.
Overall, Sage is an advanced accounting program that gives users more choices when it comes to personalization and job estimations as compared to QuickBooks Online. It is also the best suited for your allowing collaboration between users and project management. Hopefully, the above described conversion process helps you to convert QuickBooks Online to Sage 50 with much ease.
Frequently Asked Questions
Q. Can I customize forms and reports with Sage 50?
Ans. Yes, you can customize forms and reports to fit the specific requirements with Sage’s built-in form/report designer. Powered with Crystal Report for Peachtree, many complicated forms and reports can be generated.
Q. Can Sage 50 help in tracking costs of business projects?
Ans. Job tracking is the standard feature of Sage 50. It provides you more complete, time & billing job costing features that lets you phase and cost codes.
Q. How can I print a schedule of Accounts Payable or Accounts Receivable in Sage 50?
Ans. You can use Sage’s aging reports to display or print information that is contained in a schedule of Accounts Payable or Schedule of Accounts Receivable. Perform the below steps to display a report similar to a Schedule of Accounts Receivable as well as Accounts Payable:
🗸 Open one of your Sage companies file.
🗸 Go to the Menu bar and then click on the Reports >> Accounts Receivable.
🗸 Scroll down the report list and then highlight the Aged Receivables.
🗸 Next, click on the Screen icon.
🗸 Now, go to the “Fields” tab and then click “Deselect All”.
🗸 Click on the Customer ID, Account Due, Customer Name in the “Show” column and then it Ok .
🗸 A screen displays a report which is similar to a Schedule of Accounts Receivable and you have to do the same steps for the Schedule of Accounts Payable.
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