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Frequently Asked Questions: Transfer data from QuickBooks Desktop, Xero and MYOB.
Who is Odyssey Resources?
Odyssey Resources provides outsourced accounting, bookkeeping and taxation services to accounting and bookkeeping firms in Australia, Asia, New Zealand, North America, South Africa and in the United Kingdom.
Is Odyssey Resources endorsed by Intuit, the makers of QuickBooks?
Yes. Although Odyssey Resources is not part of Intuit, we work in partnership with Odyssey Resources to ensure we're able to transfer data swiftly and accurately.
We can convert the Australian versions of the below software:
- Reckon Accounts for Business 2015 or earlier (.qbb or .qbw file type)
- Reckon Accounts Hosted
- Reckon QuickBooks 2009 or later (.qbb or .qbw file type)
- MYOB AccountEdge V14 and earlier (.myo file type)
- MYOB AccountRight Live V2012-2015 (.myox file type)
- Xero (excluding Xero US version)
We only convert to the Australian version of QuickBooks Online Essentials and QuickBooks Online Plus.
How does the process work?
Your data is converted to QuickBooks Online in 3 easy steps:
- Complete the conversion form including your contact details and name of the company you wish to convert,
- Select the current software package you’d like to convert from (either upload a backup copy or provide us with your existing login details) and tell us how many years of data you’d like converted,
- Provide us the login details of the QuickBooks Online file you’d like the data uploaded into or we can create a new one on your behalf.
When your conversion is complete, you’ll be asked to review the converted data and to complete the post conversion tasks and reconciliation process. Once you’ve completed these steps and you’ve confirmed acceptance of your converted data file, we’ll assign ownership of the file back to you. Should you have any questions about the post conversion tasks, our Customer Care team are ready to help.
- Your details
- Your previous data file, including login credentials, if applicable
- Your QuickBooks Online file ( Know more )
- You can bring your own file
- Or, we can create it for you
We will aim to complete your conversion within three to five working days of receiving your data file, although it is often much faster than that.
When you send us your business data, we simply convert it to QuickBooks Online format. We don't review it in detail; share it with anyone outside our business; or use it for anything else. Once you let us know you're happy with your QuickBooks Online account then your data will be permanently deleted from Odyssey Resources servers.
As long as you use the online form to upload your data to Odyssey Resources, it will be protected using the industry standard SSL encryption. Data is removed from our servers promptly after you have uploaded, and we store a copy on our local servers during conversion. Post conversion we move your data to a secure offline storage where it is encrypted. It is best practice to also suggest you have a password on your source data file.
For a limited time, Intuit will cover the cost of conversion to transfer up to 24 months of data (one financial year of historical data, plus all data for the current financial year) to QuickBooks Online Essentials and QuickBooks Online Plus. You can request additional years of data for a small fee, payable to Odyssey Resources. If you don't have a QuickBooks Online account already, Odyssey Resources will create one for you, for which you'll have to pay the "standard" subscription cost per month. This is paid directly to Intuit, the maker of QuickBooks, and not to Odyssey Resources.
We will transfer the following data to QuickBooks Online:
- Customer details
- Supplier details
- Chart of accounts
- Account balances
- Customer balances
- Supplier balances
- Items list
- Historical transactions
We only currently convert the core accounting information and not the following types of data:
- Memorised transactions and client banking details
- Invoice and other templates
- Sales orders (applies to QuickBooks only)
- Payroll records
- Negative stock
Yes. If you have an existing QuickBooks Online file you would like us to move your data in to, please invite us to that file.
There are certain transaction types that QuickBooks Online does not allow us to convert. We have to use transaction type Journal Entry for the following items:
- Funds transfers
- Inventory Adjustment
- Receive money (applies to MYOB only)
The data importing process will transfer all compatible data existing in your provided file to QuickBooks Online. However, we will only validate (check and correct) data for the range you have requested. We advise you to keep a backup of relevant data to have history of transactions prior to conversion date.
There are a few simple tasks you will need to complete inside QuickBooks before starting your day-to-day use. Don't worry though, we will guide you through these steps when you get there!
Confirming company settings. Although we are able to move your accounting figures into QuickBooks, we don't carry over information like company name, address and email details. You will need to update these fields.
Reconciling bank transactions. We are unable to mark bank transactions as reconciled during our conversion process. Once your conversion is complete, you will need to mark the bank transactions as reconciled, leaving only the unpresented items as unreconciled and agreeing with the statement balance.
Confirming GST details and BAS lodgement periods. If your business is registered for GST, you will need to confirm the ABN, lodging frequency and GST details. Business Activity Statements for earlier periods may need to be "lodged" in QuickBooks, to make sure that old transactions do not appear in the next BAS report. You should check the first BAS you produce in QuickBooks carefully, to ensure that the numbers are as you would expect.