Chart of Account Number assignment to conver QuickBooks file to Xero

My experience with Migrating Quickbooks .QBW file to Xero - Chart of Accounts
Time spent: 6 hours
Xero requires that your Quickbooks file is reconcile  prior to uploading it for conversion and the chart of account must have numbers for each account.

If you have been using Quickbooks without proper numbers for your accounts you might run into a situation that can be quite time intensive to correct if you have a fairly extensive chart of accounts.
It took me all day Saturday to complete this milestone. At the end of the day my QBW file was ready for upload.

Here are the Chart of Account Numbers I used in QuickBooks conversion to Xero: ( the mnemonic to rember Chart of Accounts sections is Apes, Lions and Elephants incidentally cost over intentional exploitation -  ALE IC OIE)
1000s: Numbers in the 1000s are assets

2000s: Liabilities

3000s: Equity

4000s: Income

5000s: Cost of Sales / Cost of Goods Sold COGS

6000s, 7000s: Other operating expenses

8000s: Other income

9000s: Other expenses

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.