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The journals related to Credits, Prepayments and Overpayments in Xero will be merged to keep an accurate balance on all accounts when converted to QuickBooks Online. The rounding differences from conversions will show up and be reflected as a P&L item in QuickBooks Online. If you have transactions in euros in Xero and your home currency in QuickBooks is US dollars, all transactions will be converted to US dollars using the exchange rates in Xero. There will be no unrealized foreign currency gains or losses for your customers and vendors. Transactions of different currencies in Xero will be converted into the home currency configured in QuickBooks Online. Learn more about QuickBooks Online Chart of Accounts. Renaming the normal balance sheet accounts in Xero has no such implications though. Retained Earnings, Accounts Receivable, Accounts Payable, etc.) that are renamed or customized in Xero may be converted to suspense accounts showing up as Customers or Vendors in QuickBooks Online. Hence it is important for you to understand some of the conversion limitations. Project details, if any (quotes and estimates, tasks and expenses, profitability, etc.)īecause the systems subtly vary on how they are handling accounting, it is not always possible to convert everything and for all of your accounting period.Payroll information, if any (employee details, pay calendars, tax information and pension, etc.).Closed or partially closed estimates and purchase orders.Jobs that are not attached to transactions.( Back to top) Xero data that will not be converted If you decide not to purchase additional years, then the transactions from the prior years on file will be consolidated into an automatically calculated opening balance. #QUICKEN BOOKS CODE#
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