MYOB Essentials to Xero Conversion

Includes:

• Setup Xero account & settings
• MYOB Chart of accounts
• Xero report codes & tax codes matched
• Conversion balances
• Transaction history for the year to date
• Invoices, bills, bank transactions & journals
• Contacts
• Items
• Bank feed gap period imported

Additional options:

• Employee & payroll $25 p/employee (min. $100)
• Multi-currency $77
• Custom chart of accounts $120
• Additional years of transaction history $165 p/year
• Detailed opening sales/bills from min. $165
• Credit allocations from $2 p/entry (min. $25)
• Attachments on invoices/bills from $220 /500 attachments
• Supplier bank details in contacts $210 / 1000 contacts
• Xero training & support +$120 p/hour

How a MYOB Essentials to Xero conversion works

MYOB Essentials is an underdeveloped accounting system released by MYOB as a small business cloud alternative to their more robust and costly MYOB AccountRight option which is a hybrid solution. MYOB Essentials has limited data exporting capability which means the conversion process is much more manual than AR versions however despite these challenges we now have a full transaction history conversions service available.

Finally you can convert from MYOB Essentials to Xero and retain all your sales, bills, journals and bank data history you have stored in MYOB Essentials and we can even capture your attachments.

Most MYOB Essential conversions will take 5 business days or less to complete depending on what options are selected and the number of transactions/records to convert. Once the conversion is completed we can transfer the Xero subscription to you for instant access or manage your subscription for you at no additional cost.  We can even secure discounts on your Xero subscription of up to 50% depending on what promotions are available at the time of conversion.

Now that all your transaction history can be captured year to date or even for previous years there is no need to delay the conversion until the year or quarter end. Take advantage of the time saving features, additional functionality and access to the massive add-on solutions marketplace on offer with Xero without further delay!

Please note:

• Chart of accounts – MYOB’s GL codes and names are imported and best matched to Xero report and tax codes. There will be a few Xero system accounts created.
• Open Receivable and Payable invoices imported at the conversion period start date e.g. 30 June 2018, shall contain only single line showing the unpaid balance of invoice in Xero and with dummy GL accounts and dummy Tax codes.  Additional charges apply for clients who opt in for detailed opening sales/bills service which you may wish to consider if you report on a cash basis or adjust these entries after handover yourself.
• Multiple accounts receivable and payable control accounts will be merged to a single account for each.
• The allocation of receivables and payables credits to matching invoices/bills is a manual process and not included.  Additional charges apply for clients who opt in for our credit allocation service otherwise you will need to match the credits to sales/bills yourself after handover.
• Multiple GST control accounts will be merged to a single GST account.
• Custom sales tax rates are converted into default Xero tax rates with “Tax Adjustment” entry as separate line item in Xero.
• Temporary clearing accounts are used to pass through receivables, payables, bank transactions and inter bank transfers.
• There maybe some rounding differences due to the way the systems calculate GST.
• Transactions without contact name in MYOB Essentials will be transferred as “No Name” contact in Xero.
• Wine Equalisation Tax (WET) is converted by adding a description line item to the invoices. Please note that we do import WET as a Tax Type.
• Freight, commission, discount in MYOB Essentials invoices and bills are transferred as separate line items in Xero invoices and bills.
• There are specific workarounds and often extra charges for Multi-Currency which we will notify you of.
• Inactive Accounts and contacts if used in MYOB Essentials in the conversion period are turned into active accounts or contacts in Xero.
• We take every effort to provide the exact data in your MYOB Essentials transactions, however due to the limitations of few fields which are different in MYOB Essentials and Xero we might have to use some workarounds to bring the transactions in.  For example we can capture item description if used but not invoice description, we cant capture transaction lines with nil values or notes under invoices and bills.
• Attachments are not captured as part of the standard service however we have a attachment service available at additional charges.