Allowing You to Spend More Time With Your Clients
“Whatever data exists electronically, should not have to be re-entered by a human.” – Alexander Kohl
This is one of the guiding principles of why we built our conversion engine. When creating Jet Convert we thought that we should be able to convert any source file into Xero. But even now (after 8 years and 40,000+ conversions), we find that there are strange and unexpected accounting entries that we cannot deal with automatically. These make up a very small percentage of our conversions (less than 3%) but still restrict the amount of information that we can provide in Xero.
So instead of always automatically going for a conversion with history, we recommend prioritising your clients’ requirements. Here is what you can think about:
Do You Require Speed?
If you just want to get going in Xero, the balances only service is the best choice. It gives you every contact, item, account, full payroll and balances for the end of last month. It means you have eliminated the mundane tasks and can focus on starting your client with a clean organisation that has all the basic details.
Do You Want to Run Comparative Financial Reports?
We find that full history is often chosen for one reason only: the ability to run comparative reports. Monthly comparative balances are enough for that and again, bring in the data faster and cleaner.
You get accurate monthly balances for all accounts (profit & loss as well as balance sheet accounts) so that reporting for any monthly time period can be run. The added benefit for anyone coming from MYOB is that we can often bring in data for purged periods.
Do You Require Detailed History?
There are two main reasons for detailed history: If your clients are using a lot of their old invoices to create new invoices, then detailed history is useful. The other reason is if you still need to submit BAS, then detailed history to the beginning of the current quarter gives you that ability.
Introducing a Custom Chart Of Accounts With Report Codes
The other important consideration during a conversion is the possibility to clean up. If you are already using Xero report templates and report codes, you have the option to import your standard chart of accounts and map your clients’ data into it.
It means in Xero, whatever history you bring in (details or comparative balances) will use your clean chart of accounts.
We use an artificial intelligence algorithm to pre-match the old chart of accounts with the new one that makes sure all required account types are honored. In a simple drag and drop operation, you can then map the remaining ones (or choose to add them).
We are here to take away the mundane data conversion tasks, so that you can focus on creating real value for your clients. Talk to us about your needs, tell us where you are wasting time with data wrangling. Give us a call, so we help you work out what the best options are for your clients.
Pre conversion considerations
No matter which option you take there are some recommendations ahead of time to optimise the conversion experience ahead of time:
- Do not start an org in Xero, we will do that for you!
- Check the accounting basis is correct in your client’s file.
- There are other steps you can take to check the cleanliness of your client’s data on our FAQs page, particularly for full transactional history conversions. These are optional as you can always tidy up in Xero following conversion.