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Is Migration to a New Accounting System Worth It?


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Considering a migration to a new accounting system for your clients?

It’s a decision that can bring significant benefits but also involves risks and disruptions. Discover how migrating accounting software can enhance workflows, collaboration, user-friendliness, and scalability. 


Reasons to Consider Accounting Data Migration

  Switching accounting software platforms can deliver numerous advantages for your clients and your accounting or bookkeeping firm. Here are compelling reasons that make migration worth considering:


  • Better Workflows for Enhanced Efficiency :

By migrating to a new accounting platform, your clients can benefit from modern features such as automation, real-time data access, and accounting data analytics. Streamlining business operations, reducing manual efforts, and eliminating tedious data entry tasks can save valuable time.


  • Improved Collaboration with Cloud-Based Solutions :

Shifting from on-premises systems to cloud-based accounting software enables seamless collaboration among multiple users from any location. Say goodbye to file sharing and version control issues, as well as the costly hardware infrastructure associated with on-premises solutions.


  • Enhanced User-Friendliness for Simplified Accounting :

Outdated systems, complex software, and scattered spreadsheets can lead to confusion, low productivity, and costly errors. By migrating to a more modern accounting platform, your clients can solve accounting problems more efficiently, without requiring constant intervention.


  • Scalability through Standardization :

When each client uses a different accounting system, it becomes challenging to serve them effectively. By encouraging all clients to use the same accounting software, you gain scalability options, streamlining your bookkeeping processes, financial statement preparation, and decision-making support.


Factors to Consider Before Migrating

  While accounting data migration can be beneficial, there are instances where it may not be the best course of action. Here are factors to consider before proceeding with migration:


  • Complexity of Data Mapping :

Migrating accounting systems can be complex, particularly when dealing with numerous accounts or significant differences in data structure between the old and new systems. Ensure data accuracy by consolidating and cleaning up trial balances before initiating the transfer process.

  • Timing Constraints :

Under time constraints, embarking on an accounting system migration may not be ideal. Sufficient time is necessary for sorting through existing accounts, cleaning up trial balances, and mapping the new system. Monitor the process closely to ensure an error-free migration.

  • Cost Considerations :

The migration process can be expensive, depending on factors such as company size, complexity, and data quality. Evaluate the costs associated with migrating existing data before committing to a new accounting system. FreshBooks offers free migration support for clients on the Select plan.


A 6-Step Checklist for Accounting Data Migration

   Follow these steps to ensure a successful and smooth accounting data migration:

1. Establish a Timeline :

Agree on a conversion date and create a work-back schedule for transferring all client data. A timeline helps set reasonable goals and provides transparency for all parties involved. Optimal migration periods are during slower seasons, like late summer or early winter.

2. Communicate the Plan to Stakeholders :

To avoid misunderstandings, communicate the migration plan in advance to all stakeholders involved. Provide written documentation detailing the timeline and objectives, fostering a smoother migration process.

3. Contact a Accounting Data Migration Expert :

If a business want to migrate its accounting data to a new system or software, it is important to find a reliable and experienced accounting system migration services provider to assist them. Accounting data migration requires careful planning and execution to ensure the errorless transfer of your important financial data.

4. Perform Data Backup :

Before initiating the migration, Data migration services provider will ensure a secure backup of all data. This step allows for quick recovery in case of any issues during the import process.

5. Execute the Migration Process:

Accounting system migration expert execute the data transfer process according to the established plan. The duration of the migration depends on the complexity of the client’s business and the current accounting system.

6. Verify Data Accuracy :

Once the migration is complete, thoroughly test the imported data for accuracy. Analyze each record or field individually or employ automated testing tools for a more efficient process.


Contact us today to discuss your accounting data migration needs