Netsuite to QuickBooks

Transitioning from Netsuite to QuickBooks

Netsuite to QuickBooks Data Migration

Seamlessly migrate your data from Netsuite to QuickBooks (either Desktop or Online) with Numerawise Solutions’ Data Conversion Services. Benefit from a dedicated expert who brings industry expertise, comprehensive training, ongoing support, and more.

For businesses aiming to streamline operations and boost financial performance, grasping the data conversion process from NetSuite to QuickBooks offers a significant opportunity. This shift enables organizations to allocate time and resources more strategically, ultimately enhancing efficiency and profitability.
If you currently use NetSuite or are exploring alternatives, keep reading to discover:

The main distinctions between NetSuite and QuickBooks.
Ideal scenarios for transitioning from NetSuite to QuickBooks.
Steps involved in migrating to QuickBooks.
The pros and cons of each platform.

NetSuite:

NetSuite is a cloud-based enterprise resource planning (ERP) software platform offering a comprehensive suite of business management solutions. Its modules encompass accounting, financials, inventory and order management, customer relationship management (CRM), and e-commerce functionalities. This platform is tailored to assist businesses of all sizes in optimizing their operations and making data-driven decisions through real-time analytics.

Founded in 1998, NetSuite was acquired by Oracle Corporation in 2016. Today, it serves over 22,000 organizations globally, ranging from small and mid-sized enterprises to nonprofits and large corporations. Renowned for its adaptability, NetSuite allows businesses to customize the software according to their unique requirements.

As a cloud-based solution, NetSuite enables users to access their data from anywhere with an internet connection, enhancing productivity and facilitating collaboration among team members. The platform also offers numerous integrations with other software applications, simplifying workflows and minimizing the need for manual data entry.

QuickBooks:

QuickBooks is a cloud-based accounting software platform offering a comprehensive suite of financial management solutions. Its modules encompass accounting, financial reporting, invoicing, expense tracking, payroll, and inventory management. This platform is designed to assist businesses of all sizes in streamlining their operations and making informed decisions through real-time financial insights.

Originally developed in 1983 by Intuit, QuickBooks has grown to become one of the most widely used accounting software solutions, serving millions of businesses globally, including small and mid-sized enterprises, freelancers, and larger organizations. Known for its user-friendly interface and versatility, QuickBooks allows users to customize its features to fit their unique business needs.

As a cloud-based solution, QuickBooks provides users with the flexibility to access their financial data from anywhere with an internet connection, boosting productivity and enabling seamless collaboration among team members. The platform also supports numerous integrations with other business applications, simplifying workflows and reducing the need for manual data entry.

Reasons for Transitioning from NetSuite to QuickBooks Desktop or Online

When businesses contemplate moving from NetSuite to QuickBooks Online, several factors come into play, with cost being a primary concern. Let’s delve into these factors further:

Vital Points to Consider Before Transitioning NetSuite Data to QuickBooks

Sign Up for QuickBooks Online: Initiate the process by registering for QuickBooks Online. After signing up, log into your account.
Complete Welcome Sections: Make sure to thoroughly fill out any onboarding sections and set up your company profile accurately.
Resolve Inventory Issues: Check and correct any discrepancies in your NetSuite inventory prior to importing to prevent data loss.
Automatic Conversion: Understand that the migration process is automated, and you will not be able to interact with QuickBooks Online until it completes.
Data Replacement: Keep in mind that after conversion, your existing data in QuickBooks Online will be replaced by the NetSuite data.
Overwrite Alert: A warning notification will appear on your screen before any data is overwritten during the migration.
Confirmation Email: Following the successful migration, you will receive an email confirming that your data has transitioned from NetSuite to either QBDT or QBO.
Review Post-Conversion: After the migration is complete, review your data thoroughly to ensure that all information has been accurately converted.

A Comprehensive Guide to Migrating from NetSuite to QuickBooks

Transitioning from NetSuite to QuickBooks demands meticulous preparation and implementation. Below is a detailed, step-by-step guide with specific examples to assist you through the process.

1. Determine the data that needs to be transformed.

Prior to initiating the migration process, it’s essential to clearly outline the specific data that will be transferred. Generally, this encompasses:

Chart of Accounts
Customer records and transaction history
Vendor records and transaction history
Employee Details
Inventory Items
Active transactions (such as invoices, bills, purchase orders, etc.)
Historical Transaction Records

If your company has utilized NetSuite for the past five years, you may choose to transfer the transaction history from the last three years to QuickBooks, along with all active transactions and master records, such as customers, vendors, and items.

2. Exporting Data from NetSuite

NetSuite supports exporting data in multiple formats. Follow these steps to export essential information:

To export the Chart of Accounts:

Navigate to Setup > Accounting > Chart of Accounts.
Click on “Export” and select CSV format.

To export customer and vendor lists:

Go to Lists > Relationships > Customers (or Vendors)
Utilize the “Export” option and choose CSV format.

For transaction data:

Access the “Saved Searches” feature to create custom exports.
Define your search criteria for invoices:
Type: Transaction
Transaction Type: Invoice
Date: Specify your desired date range

3. Integrate the data with QuickBooks

This step requires aligning NetSuite fields with their corresponding fields in QuickBooks. Develop a mapping document to facilitate the import process.

Here’s an example of what a standard mapping could resemble:

NetSuite Field	QuickBooks Field
Account Number	Account Name
Account Name	Account Name
Customer ID	Customer ID
Item Name	Item Name
Transaction Date	Transaction Date

4. Import Data into QuickBooks

QuickBooks provides multiple options for importing data:

Utilize the Built-in Import Function:
Navigate to File > Utilities > Import > Excel Files.
Use the wizard to map your exported CSV files to the appropriate QuickBooks fields.

Given that NetSuite’s data structure is often more intricate than QuickBooks’, consider leveraging a third-party solution like Numerawise Solutions for a smoother transition.

5. Verify Imported Data

After the import process, conduct a comprehensive data accuracy check:

Account Balances: Ensure they align with expected figures.
Customer and Vendor Information: Validate all details.
Sample Transaction Verification: Check a selection of transactions for correctness.

To enhance accuracy, you can:

Generate a Balance Sheet report in both NetSuite and QuickBooks for comparison.
Review Accounts Receivable and Accounts Payable aging reports in both platforms.
Confirm that the total counts of customers, vendors, and items are consistent across systems.

6. Finalize Account Reconciliation

Conduct a thorough reconciliation to confirm accurate data transfer:

Reconcile both bank and credit card accounts.
Verify the starting balances for all balance sheet accounts.
Generate and compare financial reports (Profit & Loss, Balance Sheet) from both systems.

Ensure the opening balance in QuickBooks aligns with the $100,000 from NetSuite as of the conversion date.

Additional Factors to Address:

Custom Fields and Forms: Determine how to manage any custom fields and forms from NetSuite in QuickBooks.
Third-Party Integrations: Review all NetSuite integrations and find suitable alternatives in QuickBooks.
Team Training: Conduct training sessions for your team, emphasizing the main differences between NetSuite and QuickBooks.

Recommended File Formats for Transferring Data from NetSuite to QuickBooks:

Understanding which file formats work best for transferring data between NetSuite and QuickBooks is key to ensuring a smooth migration. Common types of data that can be successfully transferred include customer and vendor details, invoices, payments, sales orders, purchase orders, and inventory records. You can use Google Sheets, CSV, or XLSX/XLS files for transferring data to both QuickBooks Desktop and QuickBooks Online.

Details on File Formats:
XLS/XLSX Files: The XLS format is the legacy Excel file type used from 1997 to 2003, while XLSX is the format for Excel 2007 and later.
CSV File: CSV files store text in tabular form, with commas, semicolons, or other delimiters separating each field of data.
Google Documents: This is a cloud-based spreadsheet tool from Google Drive, which can be used to manage and share data.

Numerawise Solutions Checklist: Key Steps Before Migrating Data from NetSuite to QuickBooks

Evaluate QuickBooks Online Features: Review the capabilities of QuickBooks Online to ensure they align with your business needs.
Be Aware of QuickBooks Online Limitations: Advanced features like complex sales orders, batch processing, and advanced inventory tracking may not be available in QuickBooks Online.
Follow QuickBooks Naming Guidelines: QuickBooks Online imposes character limits on file names, so ensure that your files comply with these guidelines before conversion.
Ensure Your QuickBooks Desktop is Up-to-Date: If you’re using QuickBooks Desktop 2016 or older, update your version before converting your company file. To check your version, press F2 or Ctrl + 1 in QuickBooks, and select “Update Now” under the Help menu if needed.
Backup Payroll and Run Reports in Advance: Payroll data may not convert automatically, so ensure reports and payroll records are backed up before migration.
Use Database Conversion Services Promptly: You have 60 days from the creation of your QuickBooks Online account to use the database conversion services. After that period, you’ll need to create a new account if conversion hasn’t been completed.
Fix Inventory Errors in QuickBooks Desktop: Before migrating to QuickBooks Online, resolve any discrepancies in your QuickBooks Desktop inventory to avoid data loss during conversion.

Migrate Your Data from Netsuite to QuickBooks with Numerawise Solutions

Transitioning your ERP or accounting software can feel overwhelming. If you’ve been in business for a while, you might have accumulated significant amounts of data, and integrating QuickBooks with your existing software might not be seamless. If you find the QuickBooks migration tools confusing, there’s no need to worry. Our experts are here to ensure your data is migrated safely and securely, alleviating the stress of the process.

At Numerawise Solutions, you’ll be paired with a dedicated conversion consultant who will assess your unique requirements. They’ll help determine which QuickBooks features you need and work with you to develop a phased migration plan. Our full-time developers will handle the export, cleaning, and import of your historical data meticulously.
After the migration, we provide comprehensive training for your team on the new system, ensuring you establish efficient processes to fully leverage the capabilities of your new setup.

Converting your ERP system or accounting software can feel overwhelming, especially if you’ve accumulated significant data over the years. If you’re transitioning from another accounting tool to QuickBooks, compatibility issues may arise. However, there’s no need to be concerned about the intricacies of QuickBooks conversion tools. Our team of professionals is here to ensure your data is migrated safely and efficiently, saving you both time and frustration.

At Numerawise Solutions, you’ll be assigned a dedicated conversion consultant who will assess your unique needs, determine which QuickBooks features are essential for you, and work with you to establish a step-by-step conversion strategy. Our experienced programmers will manage the export, cleaning, and import of your historical data seamlessly. After the conversion is complete, your team will receive comprehensive training on the new system, along with support in implementing efficient processes to maximize the benefits of your new accounting software.

Trusted by businesses nationwide, Numerawise Solution provides accurate, efficient bookkeeping tailored to your needs, letting you focus on growth.

Contact us:

Quick Links

Bookkeeping

Cloud Services

Outsourcing

Netsuite to QuickBooks

Transitioning from Netsuite to QuickBooks