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Verify your company name
First, you need to verify that your company data includes a valid company
name.
2 From the QuickBooks File menu, select Company Info. The Company
Information window displays.

3 Verify that your company name is entered in the Legal Company Name
field.
In this window, QuickBooks displays both the Company Name and
Legal Company Name fields. Peachtree will convert what is entered in
the Legal Company Name field as the name of your new Peachtree
Accounting company.


If your company™s name is entirely numeric (for example, “90210”), or the
Legal Company field is blank, Peachtree will assign your company™s name as
“No Name.” After the conversion is complete, you can change your company
Note
name in Peachtree Accounting at any time.
4 When finished, select OK.

Verify that your chart of accounts uses account numbers
You must verify that the “Use account numbers” preference is activated in
QuickBooks and that all accounts in your chart of accounts include account
numbers.
5 To verify that your chart of accounts uses account numbers, do one of the
following:
In QuickBooks (or QuickBooks Pro) Version 4: From the

Preferences menu, select Transactions. The Transactions Preferences
window displays.
In QuickBooks (or QuickBooks Pro) Version 5: From the File

menu, select Preferences. The Preferences window displays. Select
Accounting from the Preference list.


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B Converting QuickBooks Data to Peachtree Accounting
Getting Started Guide


6 Select the “Use account numbers” check box (if it is not already selected),
then click OK.

7 From the Lists menu, select Chart of Accounts.

8 Scroll through your list of accounts and verify that each account has an
account number as well as an account name. Account numbers can be up
to eight alphanumeric characters in QuickBooks.



QuickBooks may include “non-posting” accounts (for example, estimates) in
your chart of accounts. Because these accounts do not impact the General
Ledger, Peachtree will not convert these account types. Therefore, it is not
Note
necessary to assign account numbers to these accounts in QuickBooks.

Back up our QuickBooks company data
It is recommended that you back up your QuickBooks company data at this
time. For information on backing up your data within QuickBooks, refer to
the program's online Help or printed manuals.




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Converting a QuickBooks Company
Stepping Through the Conversion Process


Converting a QuickBooks Company
When converting a QuickBooks company, Peachtree will prompt you to
locate your QuickBooks company data file (*.QBW). Peachtree will read
information from this data file and create a new company in the Peachtree
Accounting format.


Peachtree Accounting conversion does not change your QuickBooks data file.
It creates a new set of data files and places them in the Peachtree Accounting
data path.
Note



Stepping Through the Conversion Process
To convert a QuickBooks company, do the following:
1 If your QuickBooks company is open, close it or exit the QuickBooks
application.

2 Start Peachtree Accounting.

3 You can begin the conversion process two ways:
From the Peachtree Accounting Startup Screen: Select the “Convert

a Quickbooks company to Peachtree Accounting” option. The Open
Company window displays. If the Startup Screen does not appear
when initially starting Peachtree Accounting, select View Startup
Screen from the Options menu. Then, restart Peachtree Accounting.




Select this option to
convert QuickBooks
data to Peachtree
Accounting.




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B Converting QuickBooks Data to Peachtree Accounting
Getting Started Guide


OR
From the File menu: Select Open Company.





Select the
QuickBooks file that
represents your
company data.



Select QuickBooks
as the company
type.


4 In the Open Company window, select QuickBooks as the company type (if
it is not already selected).

5 Locate and select your QuickBooks company data file (for example,
COMPANY.QBW). Then, select OK.
If you installed QuickBooks using the default settings, the company data
file is located in the \QBOOKSW directory.
Peachtree will verify that the QuickBooks company selected is a valid
one. If an error displays indicating that the company is not set up
properly or Peachtree cannot read information from the company file,
See “Troubleshooting the Conversion from QuickBooks” on page 280.
The Convert Company window displays general information about the
conversion process.




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Converting a QuickBooks Company
Stepping Through the Conversion Process


6 Select OK to begin the conversion.




7 Select an accounting method that you will be using for this company.
The accounting method determines how Peachtree Accounting handles
General Ledger, Accounts Receivable, and Accounts Payable
transactions. Cash and accrual are the two basic accounting methods
used to run a business. You must select the method your company will
use.
Accrual: The accrual method records all entries at the time business

is transacted, whether or not cash has been transferred. In most
cases, companies that carry inventory or resell goods must use this
method of accounting.
Cash: The cash method recognizes transactions at the point you

actually exchange cash. While the cash method is more common in
service industries, some organizations may be restricted from using
this method by the IRS.
Typically, the accrual method provides more accurate information
regarding the financial status of your company. The cash method, on the
other hand, may better serve your overall tax status. Consult your
accountant about which method is best for you. If you choose the cash-
basis method, Peachtree will not convert your account balances. For
more information, See “Setting Up a Cash-Basis Company” on
page 278.
Important: Once you choose the accounting method, you cannot
change it for this company.
8 After selecting your new company™s accounting method, click OK.
A warning message displays giving you one last chance to verify the
accounting method.




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B Converting QuickBooks Data to Peachtree Accounting
Getting Started Guide


9 Select Continue.




This allows you to set up the number of accounting periods per year and
to set a start and end date for each accounting period for two years.
Below are the fields you can enter:
Number of Accounting Periods in the Fiscal Year: You can enter up to
13 periods. Use 12 if you intend to use months as accounting periods;
use 13 if you wish to have four weeks in your accounting period.
First Period in Which You Will Be Entering Data: Enter the number of
the period in which you will begin entering transactions. Note:
QuickBooks current balances are converted to Peachtree Accounting as
of the day before the first period you chose to enter data. For more
information, see “Understanding Balances after Converting from
QuickBooks” on page 277.
Calendar Year: enter the first calendar year in which you plan to enter
payroll. Payroll operates on a calendar year, regardless of fiscal year
setup.
Current Fiscal Year Accounting Periods: place your cursor in the first
column for the first accounting period, and enter the accounting period
date in the MM/DD/YY format, and press the TAB key.
The rest of the accounting period dates for the current fiscal year, as well
as for the next fiscal year, will change according to the first period
entered.
10 When you are finished, select OK. A warning message displays giving you
one last chance to verify the dates. This will be your last and only chance to
set up the accounting periods™ date and fiscal year structure.




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Converting a QuickBooks Company
Stepping Through the Conversion Process


11 Select Continue to save your entries and proceed with the conversion.
Peachtree begins the process of reading information from your
QuickBooks data file and creating a new company in the Peachtree
Accounting format.
During the conversion you are prompted to select default purchases and
sales accounts.




12 Select an account that will be assigned as the default purchase account for
all vendors converted from QuickBooks.
Peachtree requires that each vendor have a default purchase account
(typically an expense or inventory account). This account is used as the
default when entering purchases. After the conversion is complete, you
can assign unique defaults for each vendor. You can also change the
purchase account in invoicing or payments, if necessary.
13 Select an account that will be assigned as the default sales account for all
customers converted from QuickBooks.
Peachtree requires each customer to have a default sales account
(typically an income account). This account automatically displays
when entering sales. After the conversion is complete, you can assign
unique defaults for each customer. You can also change the sales account
in invoicing or receipts, if necessary.
When you are finished selecting the default accounts, select OK to
continue the conversion process.
14 Choose the inventory costing method Peachtree will use when converting
all inventory parts from QuickBooks. Choose between FIFO, LIFO, or
Average Cost.


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