To prepare your Xero account for migration, the below activities will need to be completed by your books balanced date:
Prerequisite: Section 1: Can you use your Existing Xero account
Section 2.1: Chart of Accounts alignment
The Chart of Accounts needs to be updated to the Poolwerx specific Master COA number and names. Any remaining accounts need to be archevied. For detaled infor and a copy of the Master COA refer to guide: Xero | Chart of Account (COA) changes
Section 2.2: AR & AP balances alignment
a) No financials being migrated: If no financials are being migrated, no action is required
b) Financials being migrated from NetSuite:
Review alignment of Accounts Receivable & Accounts Payable:
- Log into your Xero and NetSuite Accounts
- Navigate to the Accounts Receivable section in both systems
- Verify that the AR account balance in Xero equals the AR balance in NetSuite
- Navigate to the Accounts Payable section in both systems
- Verfiy that the AP account balance in Xero equals the AR balance in NetSuite
Why its important to ensure alignment of AR & AP balances
- This ensures that when the Trial Balance is imported from NetSuite into Xero, the account balances in Xero remain the same
- This import process will reset the account balances in Xero to equal the NetSuite account balance. Historical Xero data will remain in Xero, but the account balance will reset to the NetSuite balance as of teh conversion date.
What happens if my AR and AP balances dont align
If these accounts do not align by your books balanced date, then we will discuss the requirement of a new Xero account to avoid delaying your go-live..
Section 2.3: Payroll preparation (if applicable)
a) No financials being migrated: If no financials are being migrated, no action is required
b) Financials being migrated from NetSuite:
Verify that any NetSuite payroll-related accounts (expenses and current liabilities) in Xero equal the account balance in NetSuite.
If there are discrepancies, update the relevant entries in the relevant system.
This ensures that when the Trial Balance is imported from NetSuite into Xero, the payroll-related account balances in Xero remain the same.
This import process will reset the account balances in Xero to equal the NetSuite account balances. Historical Xero data will remain in Xero, but the account balance will be reset to the NetSuite balance as of the conversion date.
Section 2.4: Contact data preparation
Review your contact data and archive any contacts that are not:
- Associated with a transaction and classified a client or supplier
- An active client or supplier record
- Of value to your business operations
Note:
PSC recommends that all contcts are archived so that clean data can be imported and used moving forward.
- Any contact that is not associated with a transaction or classified as cliint or supplier will be synced to Lightspeed and Vital as a client.
Ensure remaining contact data is clean
1. Client contacts: Ensure all client contacts have at least 3 identifiers to be matched with a Vital contact. Contacts with 2 or fewer identifiers will not be able to be matched successfully to Vital contacts.
2. Supplier contacts: Ensure all Supplier contacts have at least a name and email address.
Don't have capacity to clean contacts?
If you do not have the capacity to clean your Xero contacts, this will have flow-on effects.
At the time of connecting LightSpeed to Xero, an assessment will be made whether to sync your Xero client contacts to LightSpeed and match with Vital contacts.
Sync Criteria: This is an all-or-nothing sync, meaning it cannot select specific contacts.
If the majority of your client contacts do not have more than 2 identifiers (Name + either Email, Address, or phone number), then your client contacts will not be synced.
Duplicate handling:
If contacts are not cleaned and synced correctly, you may end up with duplicate clients in Xero when a client transact via On Account in LightSpeed or an invoice in Vital is created.
In Xero, you will need to merge duplicate contacts as this occurs. Follow this article for instructions on merging duplicates in Xero.
Financial data being migration from NetSuite
If you have nominated for financial data to be imported into Xero, the Evolution Project Team will import the NetSuite client and supplier data into Xero.
Note: If the client/supplier name already exists in Xero, the NetSuite data for that client/supplier will not be imported due to Xero's restriction on duplicate names. If the same client/supplier has slightly different spellings (e.g., Johnson&Sons vs. Johnson & Sons), both will be in Xero after the NetSuite import process. In Xero, you will need to merge the duplicate contacts.