Move a limited company from QuickBooks Online by uploading reports you export from QuickBooks. Briefcase Ledger takes over on your start date, with the balances, last year's history, unpaid invoices and bills, and customers brought across.
Before you start
Choose the start date. For a VAT-registered company, it's the day after the last VAT period QuickBooks files. If QuickBooks files the quarter to 30 June, Briefcase Ledger starts on 1 July. Run every report as at the day before the start date.
VAT: Briefcase Ledger supports standard (accrual) VAT accounting. A company on the cash accounting scheme or the Flat Rate Scheme can't be imported yet.
Permission: you need Financial Close → Create.
What to export from QuickBooks
Report | Where to find it | How to run it |
|---|---|---|
Trial Balance (required) | Reports → Trial Balance | As of the day before the start date, on the accrual basis. Export to Excel. |
Journal | Reports → Journal | From the first day of last financial year to the day before the start date. Export to Excel. |
Customer Contact List | Reports → Customer Contact List | Export to Excel. Use this report rather than the export on the Customers page. |
A/R Ageing Detail and A/P Ageing Detail | Reports | Report date: the day before the start date. Export each to Excel. |
Only the trial balance is required. The Journal brings in last year's history, so monthly reports and comparatives work from day one. The ageing reports bring in every invoice and bill still unpaid. Each step of the wizard shows the exact dates to use.
1. Start the import
On the dashboard, click Add client, choose Limited companies, then Import from another system. The wizard saves your progress in this browser, so you can leave and come back.
2. Company
Enter the company name and its financial year end, and choose QuickBooks Online.
3. Start date
If the company is VAT registered, enter its VAT number, how often it files and when the last VAT period QuickBooks files ends. Briefcase Ledger starts the next day, so no VAT period is split between QuickBooks and Briefcase.
4. Trial balance
Upload the Trial Balance. Check that it says balanced, tick that it was run as at the date shown on the accrual basis, and click Continue.
5. History (optional)
Upload the Journal. Briefcase reads every transaction and checks them against the trial balance before anything is imported. History doesn't affect VAT returns.
6. Accounts
Each QuickBooks account is matched to a Briefcase Ledger account by its name. Check anything under To check, and hover the wand to see why an account was chosen. For each bank account, enter its sort code and account number and check its statement balance.
7. Customers (optional)
Upload the Customer Contact List so you can invoice your customers from Briefcase straight away. You don't need suppliers: Briefcase picks them up from your bills.
8. Open invoices and bills (optional)
Upload the A/R Ageing Detail and the A/P Ageing Detail. Each should show Matches Accounts Receivable or Matches Accounts Payable.
9. Review and import
Check the summary and click Import. Nothing is created until then, and you can undo the import until the company goes live. With history, posting takes a minute or two.
After the import
The company's home page shows a checklist for going live: connect the bank feed from the start date, file any VAT return still outstanding from QuickBooks, then connect HMRC.
Clearing the unpaid invoices and bills
The invoices and bills from the ageing reports come in with QuickBooks’ dates, numbers and amounts still owed, so they show on Aged Debtors and Aged Creditors.
When the payment comes through the bank feed, Briefcase suggests the matching invoice or bill. Reconcile it and the item drops off the aged report, as with any other invoice or bill.
These invoices and bills are coded to Opening Balances on purpose: their sale or cost and VAT were already recorded in QuickBooks, and they're in the trial balance and history you imported. Don't recode them to an income or expense account, or they'll be counted twice.