We can migrate any number of historical years, both single and multi currency entities, customized Chart of Accounts. This is a full transactional conversion wherein we bring Chart of Accounts, Contact Master, Item Master, Opening Trial Balance, Invoices, Bills, Bank Transactions and Manual Journals.
Bank Transactions (All Bank Transactions reconciled as it was done in Reckon Home And Business)
Credit Card and PayPal Accounts (converted as Xero Bank Accounts)
Wine Equalisation Tax (WET)
The entire conversion and matching of Reports are done on ACCRUAL Basis.
We make our best attempt to give you the exact image of your Reckon Home and Business data, however, due to the limitations of few fields which are different in Reckon Home and Business and Xero, we might have to use some workarounds to bring the transactions.
We are specialist in converting core financial information and we try our best to bring the other non-financial information as well, however, because of the limitation of APIs of both software’s, we might not be able to get few fields
Chart of Accounts - Sub Accounts in Reckon Home and Business are converted as Independent Accounts in Xero
Chart of Accounts - Inactive Accounts, if used in Reckon Home and Business in the conversion period are turned as Active Accounts in Xero
Multiple VAT Accounts in Reckon Home and Business are merged in single VAT Account in Xero
Custom Sales Tax Rates are converted into Standard Sales Tax Rate with "Tax Adjustment" entry as separate line item in Xero
Inter Bank Transfers may be converted through a Clearing Account in Xero
Transactions without any contact / payee name in Reckon Home and Business would be transferred as "No Name" contact in Xero
System Accounts like Retained Earnings, Sales Tax Account, Realised Currency Gains are used in Xero for their counterpart accounts in Reckon Home and Business.
We bring Wine Equalisation Tax (WET) by adding a description line item to the invoices having WET. Please note that we do not bring WET as a Tax Type.
In Multi-Currency files, while feeding the opening balances on conversion date, Xero would use same exchange rate for the conversion date for all the Multi-Currency accounts. This might cause a difference in debit and credit side of trial balance, and produce a FX variance, which is brought over in Xero system account called 'Historical Adjustment"
Rounding can be different in Xero and Reckon Home and Business because of the data precision techniques used in both software’s.
Blank Bill reference Numbers and Invoice reference Numbers:- In case we find any invoice or bill without a number, we use a dummy number example for Bills:- Bill1, Bill2 and for Invoices - Inv1, Inv2.
Duplicate reference Number in bank transactions or invoices/bills:- In case we find duplicate reference numbers then we use transaction numbers instead of reference numbers or make the numbers unique by appending an extra character with a hyphen
Limitation of Item number:- Xero have limitations of 30 characters for Item number thus for the item numbers more than 30 characters we have to trim them to 30 characters.
Multi-Currency Transactions (brought over in same currency as they were fed in Reckon Home and Business, same exchange rate as it was fed in Reckon Home and Business)
While feeding the opening balances on conversion date, Xero would use same/single exchange rate for the conversion date for all the Multi-Currency accounts. This might cause a difference in debit and credit side of trial balance, and produce a FX variance, which is brought over in Xero system account called 'Historical Adjustment"