For any business looking to grow and scale its operations, having an efficient and accurate accounting software system is crucial to making sure all your data is organized. Old accounting systems can gradually become ineffective due to changes in your business over the years. However, it can be a tough task to suddenly transition from an accounting software like Quickbooks to something new like Sage, Zoho, or Xero. Because there is so much data conversion and migration involved, companies will often delay moving to a different system and maintaining a status quo.
At SFIR Consulting, our expert quickbooks enterprise data migration consultant will help make your accounting data migration a relatively smooth process. We possess extensive accounting and software knowledge to properly assist in transitioning to different software systems for your business. Our team is a reliable Quickbooks to Sage migration company that can help you scale back or expand your finances as needed. We work with a variety of accountants, bookkeepers, and software systems to ensure that all your data is properly imported.
To help you better understand the data conversion and migration process, we have broken down some useful information you can read to start considering the chance for your own business.
What is Data Migration in Accounting?
Data migration is a process that involves the transfer of data from one system to another, between different formats and applications. It allows you to convert and objectively analyze all the business’s data you have collected over the years and organize them into proper charts, columns, etc. By doing so, you will be able to organize your accounting data into clean logical sequences that makes it easier for you or your accountant/bookkeeper to track your data. As a result, you will have a good amount of clean lists and good opening balances by the end of the year.
Data migration and conversion are usually conducted when new software systems and processes are being utilized for a company for the first time. It takes into account factors like data preparation, extraction, and transformation. Very often, data migration will often involve upgrading or replacing legacy software, expanding existing equipment, providing maintenance for infrastructure, relocating data centers, and so much more.
The process of data migration may appear daunting and too detailed, but it can be a smooth transition when performed by a reliable service.
What Is the Process of Data Migration?
Data migration often begins by incorporating an opening balance method system for the transition. This is a great starting point for your business as it installs new software. Our team will use your year-end balances to transfer all your data and relevant information to the new accounting system, while complying with local requirements. Opening balances are often used to ensure the general ledger, accounts payable, accounts receivable, and Inventory are the same and consistent as in the old system.
Services who provide data migration for businesses will also evaluate and clean up your company’s data. Bad data copied from an older system is still bad data, so it may be wise to see which one is important to keep or delete during the transition. Cleaning up your data and evaluating what you need are often the next steps during the data migration process. Our team will help determine which data your business needs to keep and migrate, identify the best tool to extract data properly, and review reporting requirements and operational business needs.
If you’re still unsure of the capabilities of your new accounting system, we can help you test them out in different scenarios before committing to them. We will set up a sandbox or test environment to allow for GL structuring, reporting, and training. Then when you’re ready for the data migration, you can be assured of the transition process in the end.
New data structure is also developed for the new accounting system to create import tables that are easier to understand. Afterwards, your company’s data is exported from the old system and imported in the newer one, confirming a successful upload in the process.
Why Should Companies Be Involved In Data Migration?
There are many methods and processes that go into a data migration for a company. However, many businesses choose to delay upgrading their current systems because it would take a good amount of time and money. On the other hand, there are also a good amount of benefits that stand to put your business in a good position.
Data migration will provide your business with enhanced agility and a centralized technological environment. You want to be able to move between seamlessly different platforms and applications as your business grows and your needs change along with it. Upgrading to a newer software system will allow your business to scale up or down with ease, giving you more financial flexibility in the long run. It will ultimately simplify the overall management of your data, with better reliability, performance, and reduced incidents.
At SFIR Consulting, we take into account your company’s size and objective for the future as we provide data migration and conversion services for your business. Our consultations with you will revolve around where you want your business to be in the future and finding the best software to house all your important data. By relying on us to transfer them into a trusted accounting software, you will be able to focus more on running your business towards greater success.
Contact us and apply to work with our team today to update your current systems and safely migrate all your data to advanced software systems such as Quickbooks, Zoho, Sage, and everything in between.
