1. What data does the QuickBooks Conversion Tool import?
The QuickBooks Conversion Tool imports lists, open balances, and historical transactions from Peachtree and Microsoft to QuickBooks.
- Chart of Accounts
- Employees/Sales Reps
- Inventory items
- Opening balances for General Ledger accounts, as of a date you set
- Customer and Vendor open balances
- Open invoices (A/R Aging)
- Open bills (A/P Aging)
- Sales Orders
- Payment Receipts
- Credit Memos
- Purchase Orders
- Bill Payments
- Bill Credits
2. Is there any data the tool DOES NOT convert?
Yes. Due to the unique differences between Peachtree and QuickBooks, we cannot convert all of your data, including:
Customer and Vendor Lists:
- One shipping address per customer will be converted, additional addresses will not.
- Default income and expense account information
- Job % Complete, PO Number, Estimated Expense, Estimated Revenue
- Ship via list
- Additional information fields
- Billing Rate Level
- Payroll and Compensation Info
- Paychecks or employee year-to-date information.
- Sick Pay, Vacation, DD Info, Pay rates, Taxes, Withholdings, Deductions
- Employment (Type) - needs to be manually selected (Regular, Officer, Statutory, Owner)
- No Position, Birthday, Spouse, Emergency contacts, etc.
- QuickBooks uses PERPETUAL (Average Cost) Inventory
- If you tracked inventory using FIFO or LIFO in Peachtree, then QuickBooks converts these values to an Average Cost in QuickBooks.
- Clients may need to talk to their accountant (or notify the IRS) if there are changes in the way they are reporting inventory (FIFO, LIFO vs. Average Cost)
- QuickBooks will convert only 10 sales pricing levels from Peachtree
3. Is there anything I should do before using the tool?
1. Make a backup copy of your Peachtree data folder.
2. Decide whether to use names or IDs for customer and vendor records.
Note that QuickBooks names must be unique and are limited to 41 characters.
4. What should I do in QuickBooks after the conversion?
First, enter your company information, including company name and address, in your QuickBooks file. The tool doesn’t import this information. To do this:
1. Open QuickBooks. Select Company, and then Company Information.
2. Open Peachtree. Select Maintain, and then Company information.
3. Copy and paste all company information from Peachtree to QuickBooks.
Next, set up your preferences. Some converted fields will not be visible until you edit the preferences in QuickBooks. Here’s how.
1. In QuickBooks, go to the Edit Menu and select Preferences. You’ll find most preferences on the Company Preferences tab. Review and edit as needed, particularly:
- Payroll & Employees: If you create paychecks, select Full Payroll.
- Purchases & Vendors: If you use inventory, select the Inventory and purchase orders are active checkbox.
- Reports & Graphs: Under Summary Reports Basis, check the reports preference for Accrual or Cash, depending on your accounting method.
- Sales Tax:
- If you charge sales tax, make sure you’ve answered Yes to the question “Do You Charge Sales Tax?” (You must select Yes in order to access sales tax information.)
- If QuickBooks asks you, "Do you want to make all your customer and/or items taxable?" select No. This will ensure QuickBooks will use your customer and item set up from Peachtree.
5. How can I verify that the tool converted my data successfully?
1. Compare the list items in QuickBooks to those in Peachtree.
- In Peachtree, go to Help, Customer Support, and then Service and File Statistics.
- In QuickBooks hit the F2 key. This brings up the Product Information screen. In the lower right corner will be the List Information.
- Compare the following:
- In QuickBooks, see the number of Total Accounts. In Peachtree, see Chart. The number of records in Peachtree will be lower by 3 to 8 accounts, due to accounts that QuickBooks uses to do the conversion.
- In QuickBooks, see Customers. In Peachtree, see Customer. These should match. If they do not match, there may be jobs in Peachtree that were assigned to Customers. In QuickBooks these will show on the Customer:Job list under the Customer name.
- In QuickBooks, see Vendors. In Peachtree, scroll down to see Vendor. The number in QuickBooks may be larger by 1, due to QuickBooks creating a vendor called Sales Tax Vendor. May also be different if there were duplicate Vendor names in Peachtree.
- In QuickBooks, see Employees. In Peachtree, see Employee. These should match unless there were duplicate Employee names in Peachtree.
- In QuickBooks, see Total Items. In Peachtree see Line Item. This will be the Inventory and other items that were imported. These should match, but the number in QuickBooks will also include Sales Tax items that were created from the Sales Tax Codes in Peachtree.
- In QuickBooks, you may see a number in Other Names. Names on this list do not match any Customer or Vendor from Peachtree. Go to Lists, Other Names List to see these names. They are names that were used in transactions, such as checks, but are not on the Customer:job list or the Vendor list.
2. Compare QuickBooks reports to Peachtree reports.
- Compare the following reports in both Peachtree and QuickBooks as of the accounting period date you chose when using the Conversion Tool.
- Balance Sheet in both. In QuickBooks, this report and the Profit and Loss report are found under the Reports, Company & Financial menu.
- Income Statement in Peachtree and Profit and Loss in QuickBooks. See above.
- General Ledger Trial Balance in Peachtree and Trial Balance in QuickBooks. In QuickBooks this will be found under Reports, Accountant and Taxes, Trial Balance. This report may be different in QuickBooks than it is in Peachtree. If so, there is likely to be a discrepancy between the receivables/payables reports and the balances of the AR/AP accounts on the balance sheet.
- If you had open invoices in Peachtree, run the Aged Receivables report. This will show the open A/R in Peachtree. In QuickBooks, go to Reports, Customers & Receivables, and then A/R Aging Summary report. This will show the open balances for each customer. Total balance should match the total balance showing in Peachtree. Individual customer balances should also match. To see the detail for each customer in QuickBooks, double-click on the total amount for the name.
- If you had open bills in Peachtree, run the Aged Payables report. This will show the open A/P in Peachtree. In QuickBooks, go to Reports, Vendors & Payables, and then A/P Aging Summary report. This will show the open balances for each vendor. Total balance should match the total balance showing in Peachtree. Individual vendor balances should also match. To see the detail for each vendor in QuickBooks, double-click the total amount for the name.
3. Verify list information.
- Look at the Chart of Accounts to see that the accounts in QuickBooks match the accounts you had in Peachtree.
- On the Home page, click on Customers. You will see a list of Customers and Jobs and their open balances. The default will show Active Customers. You can also choose to see All Customers, including inactive customers, and Customers with Open Balances. To edit a Customer, click on the name and then select Edit Customer.
- On the Home page, click on Vendors. You will see a list of Vendors and their open balances. The default will show Active Vendors. You can also choose to see All Vendors, including inactive Vendors, and Vendors with Open Balances. On the Vendor list, you may see names that have a V- in front of them, which indicates that they’re duplicates, perhaps of names that also appear on the Customer:Job list. QuickBooks does not allow duplicate names, so it adds the V- to differentiate the Customer from the Vendor. They will have the correct name in a field called Print on Check As and this allows the checks to print without having the V- in front of the name. To edit a Vendor, click on the vendor name and then select Edit Vendor.
- On the Home Page, click on Employees. You will see a list of Employees with their Social Security Numbers, if these were in Peachtree. The default will show Active Employees. You can also choose to see All Employees, which will include inactive employees, and Released Employees. To edit an Employee, click on the name and then select Edit Employee.
6. What if I need help with the tool?
There is extensive content in the Help files in the QuickBooks Conversion Tool to help you through the process if you have questions. Simply click on the blue Help links on the various screens in the tool. You can also contact the QuickBooks Data Conversion Team at 1-800-816-9304 with questions or for additional support.
"Over the years I have converted many clients from Peachtree to QuickBooks. With the QuickBooks Conversion Tool, it's automatic. And it does a wonderful job!"
ProAdvisor, SBA Services, Inc.