Bookkeeping Tips: Transfer MYOB to Quickbooks

Bookkeeping Tips: Transfer MYOB to Quickbooks

Here’s another of our Bookkeeping Tips: How to transfer data from MYOB to Quickbooks

Kathy sent us an email: ” Hi. I’m located in the United States. I have a client who wants to transfer his books from MYOB to QuickBooks. I’ve had no luck finding a way to do it in the US. Can you do this? Would you take on a one-time job if I send you the backup file from MYOB, and finally, how much would you charge? His is a very tiny graphics design company; he can’t afford to pay too much, otherwise I would just re-enter everything for the last 15 months or so.”

It is possible to transfer from MYOB to Quickbooks, though not as straight forward as either company would have you believe.

The first point to consider is that the Australian versions of MYOB and Quickbooks are different from the USA versions. A basic difference is that our tax year runs 1 July – 30 June whereas the USA the fiscal year is from 1 October – 30 September apparently.

When transferring from MYOB to Quickbooks, you may consider the following:

1) You can transfer card files – suppliers customers etc very easily between MYOB and QuickBooks – ask us how if you don’t know

2) If you need detailed transactions recorded, i.e itemised invoices to be transferred, then that’s where the expense occurs

3) we suggest to clients that they start a new file on the new software at the beginning of the new financial year

4) If it’s only a small company with not much money then you could just do journal entries to get the balances up to date in the new file rather than re- enter all the previous data

We’ve not found a cheaper way to do it – we’ve looked at this problem many times before

There is a software program that costs around US $400 – then the time taken to extract the data from MYOB into the software and extract out into Quickbooks – not worth the time/trouble based on the budget – for what result?

How often would your client need to refer back to their previous MYOB files? Do they own the MYOB software, in which case they could still have it if/when they needed to refer to them?

Why not just refer back to the hard copies as /when required?

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