CONVERSIONS & ONBOARDING

Transcription

1 CONVERSIONS & ONBOARDING

2 What we ll cover Key considerations of the Xero conversion process Deciding on the right Xero edition Conversion process Resources

3 Key considerations of converting to Xero

4 Timeline 1. Internal processing GST Cashbooks

5 Timeline 1. Internal processing 2. Reporting GST Cashbooks Use Xero for year end reporting for all current Xero clients

6 Timeline 1. Internal processing 2. Reporting 3. All clients GST Cashbooks Use Xero for year end reporting for all current Xero clients Business Editions Ledgers

7 Timeline 1. Internal processing 2. Reporting 3. All clients 4. Reporting GST Cashbooks Use Xero for year end reporting for all current Xero clients Business Editions Ledgers Use Xero for year end reporting for ALL clients

8 Xero editions

9 Xero subscription decision tree Yes Do you need to run your business on Xero? No Multicurrency? Yes Bank feeds required? Yes No GST required? No Yes No Premium Standard GST Cashbook Non-GST Cashbook Ledger

10 Conversion process

11 Conversion process Importing: Chart of Accounts Conversion balances Fixed assets BankLink journals and transactions Contacts Invoices and bills Historical balances

12 Meet Jim Jim is a major shareholder and Director in one of New Zealand s exclusive trailer parks Decided to leave his current accounting package and try Xero Currently uses BankLink and MYOB to run his business which includes; General reconciliations and invoicing The Accountant produces his financial statements in APS/ XPA which includes maintaining a fixed asset register Would like to use Xero s standard business edition

13 Jim s timeline 1 October 2017 Go live date Bank feeds start

14 Jim s timeline 1 October 2017 Go live date Bank feeds started 31 March 2018 First reporting year End of 2018 FY

15 Jim s timeline 1 April 2017 Conversion date Start of 2018 FY 1 October 2017 Go live date Bank feeds started 31 March 2018 First reporting year End of 2018 FY

16 1 April 2017 Conversion date Start of 2018 FY 1 October 2017 Go live date Bank feeds start 31 March 2018 First reporting year End of 2018 FY Stage 1 Chart of accounts Fixed assets 31 Mar 2017 FA schedule Conversion balances 31 Mar 2017 closing balances = 1 April 2017 Xero opening balances

17 Chart of accounts

18 1 April 2017 Conversion date Start of 2018 FY 1 October 2017 Go live date Bank feeds start 31 March 2018 First reporting year End of 2018 FY Stage 1 Chart of Accounts Fixed assets 31 Mar 2017 FA schedule Conversion balances 31 Mar 2017 closing balances = 1 April 2017 Xero opening balances Stage 2 Bank feeds start as at 1 October 2017 YTD bank transactions (1 Apr 30 Sept 2017)

19 Xero Conversion Toolbox (XCT)

20 Xero Conversion Toolbox

21 Conversion balances What does it do? Takes uploaded TB and maps to Xero accounts TB balances pushed directly through to Xero What do you need? Xero organisation set up Ensure COA in Xero Prior year TB in CSV format (account name/code/balance)

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23 MYOB AO Fixed Asset & COA extractor What does it do? Exports FAR and COA (with balances) out of MYOB AO How? Log in to AO and run the downloaded App Select the ledgers you want to export

24 MYOB AE and Reckon APS fixed asset conversion tool What does it do? Macro run in Excel Takes your exported FAR from AE or APS and converts it into Xero import CSV What do you need? Download the Fixed Asset Conversion Tool from the Partner Help Centre

25 Lets take a look

26 BankLink conversions What does it do? Converts a coded BL transactions file to a coded Xero CSV file ready for import Imports BL journals directly into Xero What do you need? Exported bank transactions (separate each bank) Exported journals (if applicable) Bank Accounts set up in Xero org

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28 1 April 2017 Conversion date Start of 2018 FY 1 October 2017 Go live date Bank feeds start 31 March 2018 First reporting year End of 2018 FY Stage 1 Chart of Accounts Fixed assets 31 Mar 2017 FA schedule Conversion balances 31 Mar 2017 closing balances = 1 April 2017 Xero opening balances Stage 2 Bank feeds start as at 1 October 2017 YTD bank transactions (1 Apr 30 Sept 2017)

29 Upcoming features of XCT

30 What we re looking into Recode a current client chart of accounts to match your practice chart of accounts Journal import tool allowing you the ability to import multiple journals in one go

31 Partner consultant packages If you are bringing over 25 cashbooks or more we can help! Set up your clients in Xero with GST details Import Chart of Accounts Add bank accounts Pre-populate bank feed forms Provide a bank feed form tracker Talk to your Account Manager if you have any questions

32 Resources Partner Help Centre (Conversion Tools) Xero Help Centre (CSV import files) (Conversion Toolbox) (AE/APS macro)

33 Questions

34 Beautiful accounting software