Quickbooks, like Tally Prime, was one of the widely used accounting softwares across India. Based on recent news, businesses in India do not have the option to continue with Quickbooks as it has decided to end its operation in India, ending the debate between QuickBooks vs Tally. This change presents a valuable opportunity for businesses to discover and take advantage of the extensive range of highly effective features provided by Tally Prime.
Switching to Tally Prime from Quickbooks requires careful planning and attention. The migration process transfers important and sensitive data such as account balances, transactions, and customer and vendor information.
To help you better understand the process of transferring data from QuickBooks to Tally, we have prepared a comprehensive guide with detailed steps and instructions.
Steps For QuickBooks To TallyPrime Seamless Migration
Step 1: Preparing for Migration
Effective data migration can help you avoid internal operational disturbances which is why before migrating from QuickBooks to Tally, you have to go through the following checklist to prepare for a smooth transition.
- Start by downloading TallyPrime. However, if you already have it then make sure it’s updated to the latest version.
- Determine the relevant data necessary for your business operations before starting the migration process.
- Enable the tally prime migration tool, however, for this you’ll need a tally prime license. Once you have prepped the migration tool, download QuickBooks data, extract it, import it into a new TallyPrime company, and check the reports.
It is recommended to migrate all necessary data to ensure a smooth transition.
Step 2: Exporting Data from QuickBooks
Exporting data from QuickBooks has now become very easy. You’ll just have to follow this step-by-step process to get started.
- Go to QuickBooks’ “Reports” menu and choose the report or data list that needs to be exported.
- Adjust the report’s date range, columns, and other settings.
- Click “Export” after configuring the report. The export file format will appear in a dialogue box. Choose an Excel or CSV file as Tally can read from this format.
- Save the exported file to a location on your computer where you can easily find it.
Common challenges and how to overcome them:
- Challenges: QuickBooks data export can sometimes present challenges for businesses such as incompatibility between business management software programs, differences in data structure, and time-consuming export process.
- Solutions: One way to overcome the challenges of QuickBooks data export is to use a reliable and efficient data migration tool such as TallyPrime. The migration tool along with Tally Prime’s streamlined migration process can help your business save time and resources.
If you want to save some more time while migrating data from QuickBooks to TallyPrime, here’s a guide to TallyPrime Shortcut Keys That Everyone Should Know.
Step 3: Mapping Data in TallyPrime
Data mapping in Tally involves mapping data fields between datasets. Connecting data in multiple forms ensures they work together. Here are the steps to mapping data in TallyPrime from QuickBooks:
- Identify the areas that need to be mapped.
- Open TallyPrime and go to the Import option.
- Select the file format of the exported data.
- Map the fields from the source file to the corresponding fields in TallyPrime.
- Validate the mapping and save it for future use.
- Start the import process with the mapped fields.
- Verify the imported data for accuracy and make necessary adjustments or corrections.
To ensure whether the mapped data is accurate, follow this tips:
- Verify the data formats and check if its compatible with TallyPrime
- Double-check that all data fields are correctly mapped from quickbooks to tallyprime.
- Use unique identifiers to verify, such as account numbers or customer IDs.
- Validate data accuracy, this involves comparing the exported data in TallyPrime with the source data in QuickBooks to ensure that they match.
Note: Step 3 and Step 4 work simultaneously. Mapping data helps you prepare for the error-free data import to Tally Prime, which is a leading accounting and business management software in the Industry.
Step 4: Importing Data to TallyPrime
Once you’ve exported data from QuickBooks, here are steps on how to import tally data:
- Open TallyPrime, then select the company for which you want to import the data.
- Click on the Import option and select the appropriate file as well format you used to export the QuickBooks data.
- TallyPrime will show you a screen where you need to map the fields in QuickBooks. Ensure that you map the fields correctly to avoid any errors.
- After mapping the fields, TallyPrime will show you a preview of the imported data. Review the data to ensure that everything is accurate.
- Then, click on the Start Import button to begin the import data in tally from excel or data exported from Quickbooks in tally prime compatible format. TallyPrime will start importing the data and will show you a progress bar.
- Once the tally import data process is complete, verify that the data has been imported correctly.
Common challenges and how to overcome them:
- Challenges: Importing data into TallyPrime can be challenging due to issues with file format compatibility, insufficient or incorrect data, mapping errors, duplicate entries, and data formatting problems.
- Solutions: To overcome the challenges of importing data into Tally Prime, you should carefully review the data before the import. Check it for accuracy and if the format is compatible with Tally Prime. You can also use data mapping tools to ensure the data is properly mapped to the correct fields. Use data de-duplication tools to avoid duplicate entries. You can use data transformation tools to standardize the data format. An experienced Tally partner can help you resolve such issues.
Step 5: Post-Migration Checklist
Post-migration checklist is important since it helps to ensure that the new system is functioning properly and that if any issue arises it can be addressed promptly minimizing downtime.
- Verify Data Accuracy Post-Migration: Verify all the data has been imported correctly and ensure no data is missing. Also, ensure that you do not import transactions twice as it will lead to mismatches.
- Test The Reports Generated Against QuickBooks Reports: It ensures that the reported data is accurate and reliable. By testing, one can identify any discrepancies or errors that may have occurred during the data transfer or reporting process.
- Update Integrations: Updating integrations with other accounting tools such as inventory management and customer relationship management tools. It is crucial to ensure proper integration to prevent any data errors or discrepancies.
- Monitor For Any Issues: This can help to identify any issues that may have been missed during the migration process. Also, it helps to ensure that the system is running efficiently and effectively, and in case of uncertain issues, it can be dealt with promptly.
Since we have just discussed the need for accurate reports, if you are wondering why else you should focus on testing the reports, read our guide: Business Reports in TallyPrime: Why Are They Important?