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November 22, 2023
Question

Net income, and total assets, liabilities and equity is off after migration. How do I find out why?

  • November 22, 2023
  • 1 reply
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1 reply

November 22, 2023

Hi -commonhousedesi,

 

It's nice to see you in Community.  Welcome!  Once you've completed the migration process, you'll need to perform a few tasks before you begin using QuickBooks Online.  These should be completed before you make any changes or enter new data.

Go through the following checklist to ensure that all of your data transferred as expected. 

 

The best route to find any discrepancies is by running reports by This fiscal year, or This year.  It is common to see previously paid transactions return to 'overdue', and this can be easily resolved by going to Sales > All invoices, then select Receive payment.  In addition, your accounts haven't been reconciled in QuickBooks Online yet.  You’ll need mark all of the transactions up to the conversion date as reconciled, so that it only considers future transactions for upcoming reconciliations.  For your reference, please refer to this detailed guide.

 

Should you require additional assistance, please don't hesitate to contact us.  It would be our pleasure to work with you in real time and ensure you're back to business as soon as possible!

 

Feel free to reach back out with other questions.  We would be glad to help!