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What is FreeAgent?
It is a famous accounting software tool which was created to help small business owners which help in handling their financial administration. It usually supports small and medium sized businesses.
Why is moving to QuickBooks Online from FreeAgent Beneficial?
- QuickBooks Online provides you with a higher availability, performance, and better scalability than FreeAgent.
- You can get more insights with QuickBooks Online than in FreeAgent.
- Better customization features are provided in QuickBooks Online.
- QuickBooks Online is quite accessible. It allows you to access your business from anywhere.
- You can even initiate online collaboration with other team members, accountants, etc.
How to export all data, Attachments, and Files in your FreeAgent Account?
- From the drop down menu, start by selecting settings which will be in the top-right corner. You have to select Export all Data.
- For the next step, you have to choose what kind of information you would like to export. You have two options, either you can export all your accounting information as a spreadsheet or even as a zip archive file containing all of your files and attachments.
If you want to download your account information as an Excel Spreadsheet, you should stick with this option. Some of the mentioned details will be available in the spreadsheet.
- Bank Accounts
- Explained bank transactions(the Bank Account Entries tab)
- Every financial transaction, even those that haven’t been explained (the Bank Account Transactions tab)
- Recurring Invoices
- Only VAT returns with types of the Flat Rate Scheme, Accounting Basis, and Net Liability.
Export NI breakdown & other reports
You can export year to date payroll data. The export is usually completed for month 12 of the applicable tax year in order to guarantee new beginnings which are included and leavers are excluded.
By selecting the appropriate report, you can also export PDFs of your VAT returns, profit, loss, report, balanced sheet, and even trial balance. Once an export is finished, please make sure that any recently added information has been included.
Files, Receipt Images, and Attachments
If you feel like uploading files, photos, and other attachments to your FreeAgent account, choose this option. You can download them again from your recent data and attachment section after you download them in a zip file.
- Chart of Accounts (We will create a custom map for your needs)
- Supplier & Customer Details
- Opening Account Balances
- Aged Receivables & Payables
- Aged Payables
- Bank Transactions (Includes Bill payments, Invoice payments, and other Bank Transactions)
- Credit Cards, Notes, and Invoices
- Bills and Bill credit Detailed
- All Manual Journals
- We can activate inactive accounts for your organization on request
- Our conversion and matching of Reports is done on an accrual basis.
- Our goal is to give you an accurate representation of your FreeAgent data, but with only a few fields that are different in FreeAgent and QuickBooks Online, we have to make some workarounds.
How do you Convert From FreeAgent to QuickBooks Conversion?
Step 1: You have to be sure about your product needs- It is very important for your QuickBooks Conversion expert to spend a good amount of time getting to know your company and current system. This will help them in understanding your company’s requirements. Your business’s centric growth and key values are extremely important in order to generate more profit. For this, you’ll need very specific QuickBooks Products like QuickBooks Enterprise, Payrolls, or Field Service Management.
Step 2: Arrange and Set the Template- Every business has its own set of requirements. It is important to check if QuickBooks fits your company properly and is able to gather all the data from your current accounting system. For this, you need to double click a part in both the new QuickBooks record and old system during this short period of time. Now you retrieve all your data including reports such as P&L, financial record etc. Not just this, you can include any other data that needs to be switched.
Step 3: Train the team for efficiency- The entire process of transitioning your data requires efficiency. So in order to ensure your data gets migrated in the best way possible, you need to ensure a training team. Training would be beneficial for smooth transitions of your programs. Ensuring your team’s efficiency will bring in growth into your business.
Step 4: Review your QuickBooks- This is the most crucial step as with this you will go through your QuickBooks to locate any issue. Many times, it gets very difficult to understand the depth to which your data is important. If once the data is lost, it gets difficult to retrieve it back. This makes it essential for users to double check the imported data. If you still require to move more data, do it from your old system to QuickBooks.
Step 5: The Follow up Process- Now that everything is ready you may run your QuickBooks software for a month to see if there are any problems. With the instruction manual, you can get any information that was not able to be retrieved in the process. Moreover, you can enable ongoing monthly or quarterly closing services which will help you stay on the target.
Convert to QuickBooks
Frequently Asked Questions (FAQs)
Q. Is it possible to export FreeAgent?
Ans. You can either export all your accounting information as a spreadsheet file or a zip file which will contain all your files, images and attachments. So if you feel like downloading your accounting information as an Excel Spreadsheet, choose this option.
Q. Can I import Customer Contact from outlook to QuickBooks Online?
Ans. Migrating to online accounting is quite an easy task. With the help of QuickBooks online, you can import your existing customer contacts from Microsoft Excel, Outlook, and Gmail.