MYOB – File Preparation

11 Apr MYOB – File Preparation

Here is our recommendation of what to check before converting to Xero:

MUST DO!

  1. Ensure that MYOB is set to the correct accounting basis (cash or accrual).
  2. MYOB NZ please ensure that the file contains a valid GST number.
  3. MYOB ASIA (Hong Kong and Singapore) please remove your Administrator password before uploading file. Log in to MYOB as the Administrator, go to SetUp, User Access and make the Password fields blank before saving.  You can always reapply a password once the file has been uploaded to Jet Convert.

DO NOT!

  1. Do NOT change any account types in MYOB prior to conversion.
  2. Do not start a Xero subscription prior to the conversion:
    • We set up an entirely new Xero org for you based on the file sent to us
    • Conversion to a Xero 30 day free trial is not available with this service.
  3. DO NOT ROLL YOUR FILE OR PURGE HISTORY. If the MYOB file is in the current financial year you will receive transactional history for the current financial year only.
  4. If you have already rolled your MYOB file DO NOT ATTEMPT TO ROLL BACK AGAIN.  We are unable to convert files that have gone through a roll back.

OPTIONAL

  1. Check all transactions prior to the conversion date have been reconciled. Use the Company Data Auditor function in MYOB to check every account for unreconciled transactions.
  2. Check that balances in all reconciled bank accounts and credit cards actually reflect the statement balances as of the last reconciliation date. Finalise all bank reconciliations. (Reconciliation is easier in Xero, so we recommend leaving unreconciled periods unreconciled in MYOB. However you need to make sure that the bank balances are correct as of your conversion start date.)
    Ensure all clearing accounts (including Undeposited Funds and Electronic Clearing Account) are reconciled to NIL.
  3. If applicable confirm that the Accounts Payable report reconciles to Supplier statements and that all unpaid invoices are still due.
  4. If applicable ensure all credit notes are applied unless actually unused.
  5. If applicable repeat points 3 and 4 for Accounts Receivable.
  6. If applicable run the Payables & Receivables Reconciliation detail report as of the last day of the financial year in MYOB (e.g. 30/6/15 if you are receiving transactional history from 1 July 2015) and make sure that it has no Out of Balance amount. Xero does not allow direct journals to system accounts.
  7. Run a verification of the MYOB file (from the File menu, MYO files only – this option is not available with MYOX AccountRight Live files). Fix any errors so that the MYOB file can be verified without any errors occurring.
  8. Check if any Account numbers are longer than 10 digits. If so edit them to be unique numbers of 10 digits or less.
  9. If the file size is bigger than 800MB please contact support@jetconvert.com for recommendations.

To start the conversion go to the upload page and load a back-up without a password. Here’s how to do a back-up from MYOB.

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