Converting
Vendor Records from QuickBooks
How Do I...
If you have vendors set up in QuickBooks, their records will be converted
to the Sage 50 format. Each converted vendor record is assigned a vendor
ID, which is derived from the vendor name. If you want to change the ID,
you can do so by clicking Change ID in the Maintain
Vendors window.
For detailed information on what and how vendor fields are converted,
see the following topic:
Sage 50 requires each vendor to have a default expense account (typically
an expense or inventory account). During the conversion, you are prompted
to select a default expense account for all the vendor records that are
to be converted from QuickBooks. Each vendor record converted from QuickBooks
is assigned the same expense account default. This account is used as
the default when you are recording a purchase. After the conversion, you
may want to assign a unique expense account default for each of your vendors.
You can also change the expense account in invoicing or payments, if necessary.
Note: The expense account default selected during the conversion process only applies to vendors converted from QuickBooks. After the conversion is complete, you will still have to set up a Sage 50 default purchase account in Vendor Defaults.
QuickBooks allows you to set up a list of terms. When setting up vendor
records, you can select any one of the terms from the list. Sage 50
sets up a single set of standard terms in Vendor
Defaults. Then, when setting up a vendor, you choose whether or not
the vendor uses standard terms. All QuickBooks vendor records are converted
as using non-standard terms, with each set of unique terms based on the
terms listed in QuickBooks.
If a vendor does not have terms associated with their record, the terms will be set to Due in __ number of days, and the days will be set to 0.
Note: After
the conversion is complete, you need to set up standard terms for vendors
in Vendor
Defaults.
If you convert lists only, Sage 50 converts the open balance (the sum of all outstanding invoices)
as the vendor's beginning balance. This beginning balance is entered as
of the day before the first period you chose to enter data during the
conversion process. When you need to pay a vendor, you can enter the payment
against the beginning balance total.
Note: If you want your customer beginning balances to appear on the Cash Flow Manager, you must adjust them first. How do I do this?
However, if you convert transactions from QuickBooks to Sage 50, a more involved process is used. Balances will be brought over as of the end of the last fiscal year. Then, after all transactions are converted and posted, an adjusting entry will be made as of the end of the last year to adjust all balances to those in QuickBooks. Current year balances will be based on transactions that were converted and posted.
Open invoices will be assigned an Invoice Number of BegBal. If there are multiple open invoices, each one will have a number appended to the end.
Note: Each vendor record will have its own beginning balance.
Related topic
Understanding
balances after converting from QuickBooks
After converting the company data, you can examine and update your vendor
records in Sage 50 at any time.
- To display and
modify vendor information, select Vendors
from the Maintain menu. Sage 50
displays the Maintain Vendors window.
If your vendor address fields were not converted properly, see the following
topic:
What do you want to do next?
Default Expense Account