SAGE50-->QBO Accounting System Change at Closing

searcher profile

March 16, 2021

by a searcher from Dartmouth College - Tuck School of Business at Dartmouth in Wichita, KS, USA

I'm contemplating a transition to QBO at or after closing, because it offers more integrations with other desired biz software. I'd appreciate advice regarding timing/process from operators and/or accountants. Thanks!

1
12
89
Replies
12
commentor profile
Reply by a professional
from University of Wisconsin in Green Bay, WI, USA
Without knowing the specific business and the functionality needs you are driving for its tough to give a solid opinion. However I'd be careful to ensure you retain the historical transactional history. Certainly its helpful to run reports out of one system versus trying to meld information together for reporting. There maybe more planning/work required to transition than anticipated and other more pressing items.
commentor profile
Reply by a professional
from Harvard University in Boston, MA, USA
Hey John, your instincts are correct about the power of QBO's ecosystem of apps that pick up where QBO drops off. But TargetCo's industry should also influence your choice of accounting software. For instance, if you have complex inventory management needs, QBO won't likely be the right solution. We helped a search fund port from Sage to QBO and performed that migration right after close so we could start the NewCo's accounting in a fresh QBO instance. It was an asset deal so we didn't move the OldCo's financials into the new instance. We did, however, port OldCo's financials into a separate QBO instance and we referenced that old QBO file regularly as we setup the new accounting systems. It was convenient to have both instances in the same platform. Happy to chat if you have any follow-up questions. Best wishes getting to close. -Dave
commentor profile
+10 more replies.
Join the discussion