Connecting Xero to QuickBooks: 4 Easy Steps

Companies do hundreds of transactions every day. Keeping all the Accounting books up-to-date becomes necessary. Staying organized and keeping the cash flow under control always help businesses to stay one step ahead of their competitors. Accounting is a critical part of any business as it is the vital factor that evaluates the company’s potential to grow. Companies use various software and packages to manage their accounts and keep books up-to-date.

Companies transfer data from Xero to QuickBooks as few features are available in QuickBooks that are not supported by Xero or need to migrate from Xero to QuickBooks. In this article, you will learn the steps to connect Xero to QuickBooks. You will also learn how transferring data from Xero to QuickBooks helps companies ease their workflow and set up better Accounting.

Prerequisites

• An active Xero account.
• An active QuickBooks account.

Introduction to Xero

Xero is a cloud-based  accounting software solution designed and targeted for small to medium-sized enterprises. It provides tools for managing finances, including invoicing, payroll, bank reconciliation, and expense tracking.

Key Features of Xero

1. Invoicing and Billing: It provides the feature for creating, sending, and tracking invoices along with different cycles of billing and automatically reminding payments.

2. Bank Reconciliation: Importing transactions from various banks automatically and easy reconciliation are provided.

3. Payroll Management: Handling payrolls and employee records, as well as compliance with local tax regulations is offered.4. Financial Reporting: This has to do with the output of the financial reports such as the profit and loss statements, balance sheets, and cash flow statements.

To learn more about Xero, visit Official Website of Xero.

Introduction to QuickBooks

QuickBooks is an Accounting software developed and marketed by Intuit for small and medium-sized businesses to manage their income and expenses. It assists businesses with Accounting, Payroll, Inventory Management, Bookkeeping, and other financial services. Users can automate their business management workflow using QuickBooks, it can assist them in Sales Tax Calculation, Product Tracking, and automatic transactions updates in the register, etc.

Key Features of QuickBooks

A few key features of QuickBooks are listed below:

• Cash Flow Management: Automate your workflow and save time by scheduling recurring payments and paying the vendors only when they are due.
• Multiple User Access: You can increase or decrease the level of accessibility of data to staff members. It improves collaboration among your company’s teams. 
• Integrations: Quickbooks offers integration with more than 700 apps and platforms that businesses use for daily business activities that make sure all your processes and workflows are seamlessly connected to flow data.
• Accounting Reports: You can get a holistic view of data and generate financial reports for team members, stakeholders, and managers to stay organized.

To learn more about QuickBooks, visit Official Website of QuickBooks.

What are the Steps to Connect Xero to QuickBooks?

Now that you have understood about Xero and QuickBooks. In this section, you will go through the steps to transfer data from Xero to QuickBooks. In this tutorial, you will learn how to transfer Chart of Accounts data from Xero to QuickBooks. The steps to connect Xero to QuickBooks are listed below:

• Step 1: Exporting Data From Xero to CSV File
• Step 2: Formatting the CSV File
• Step 3: Uploading CSV File to QuickBooks
• Step 4: Mapping the Data with QuickBooks

Step 1: Exporting Data From Xero to CSV File

• Log in to your Xero account here.
• Navigate to the “Accounting” tab on the navigation bar and then select the “Advanced” option.

• Now, click on the “Chart of Accounts” under the “Advanced Settings” option.

• It will open the Charts of Accounts data of your company.
• Now, click on the “Export” button to export Xero data into CSV file format.

• The CSV file having Chart of Accounts data will be downloaded to your local system.

Step 2: Formatting the CSV File

• Open the Chart of Account data in any spreadsheet software.
• Make sure you have columns with names listed below:
  • Account Name
  • Type
  • Detail Type
  • Number
• If your company accounts by number then add a column named “Account Number“. This is an optional step, you can skip it if you don’t follow this format.
• You can also add a column named “Account Name” if your data has sub-accounts.
• Once all the formatting is done, save the file.

Step 3: Uploading CSV File to QuickBooks

• Log in to your QuickBooks account here.
• Navigate to the “Settings” option. Here select the “Import Data” option.

• Now, it will ask for which kind of data your want to import. Select the “Chart of Accounts” option.
• Then, click on the “Browse” button and then select the “Open” option.

• It will prompt to upload of the CSV file. Locate the file in your local system where you saved the file after formatting and then upload it.
• Click on the “Next” button.

Step 4: Mapping the Data with QuickBooks

• Click on the small down arrow in the “Your Field” column.

• Now, match the column names of data to the QuickBooks format for the fields listed below:
  • Detail Type
  • Account Name
  • Account number
  • Type
• After mapping the data, click on the “Next” button.
• Check again for all the fields if any of them are highlighted with red then fix that and then click on the “Import” button.

That’s it! You have successfully transferred data from Xero to QuickBooks.

Benefits of Connecting Data From Xero to QuickBooks

QuickBooks and Xero are widely Accounting software, and both of them serve some unique features. Companies prefer to transfer or sync data between both platforms. A few benefits of transferring data from Xero to QuickBooks are listed below:

• Migrating Data from Xero to QuickBooks helps companies stay compliant with the tax office. As Xero offers its service online, unsubscribing to it without migrating data can cause data loss. 
• QuickBooks serves a wide range of products to manage the Accounting and finances of any type of industry. Transferring data from Xero to QuickBooks helps companies handle the toughest Accounting challenges of all small, medium, and even enterprise-level businesses with the help of QuickBooks Desktop solution.
• Transferring data to Quickbooks allow you to get a holistic view of data with better Reporting and Analytics tools. 

Conclusion 

Migrating from Xero to QuickBooks doesn’t have to be a complex process. By following the right steps, you can smoothly transition your financial data, ensuring no disruptions to your accounting operations. QuickBooks offers a range of powerful features that can help streamline your financial management and reporting. Whether you’re upgrading to take advantage of QuickBooks’ robust features or seeking better integration options, this migration process sets your business up for greater financial control and success.

Ready to make the move? Sign up for Hevo’s 14-day free trial, start your migration today, and unlock the full potential of Xero and QuickBooks for your business!

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