Moving from QuickBooks to NetSuite? Get the best practices guide

Sep 9, 2021 by Kelsey Banerjee

So, you’ve decided to switch from QuickBooks to NetSuite. As your business scales, it’s clear that now’s the time to make the transition to a more comprehensive platform to better support your growing team.

However, migrations can feel overwhelming. While the executive team might have bought into the new software, it’s up to you to shift all of your data to the new platform and train your department. You’ll also need to refine and adjust processes as you go and see the platform in action.

The good news is that there are things you can do to minimize downtime during the upgrade.  But, before we get to the essentials of a successful migration, we need to discuss what you should do before you even install the software.

Before you make the switch

Before you actually shift to your new ERP, there are a few housekeeping things you should take care of that will help ease the transition:

Make backups

Before you do anything, you’ll want to make backups of your QuickBooks operations. While your migration is likely to go smoothly, it’s just good practice to have a complete record of your files for both compliance and security. To make a backup of your QuickBooks files, you need to do the following:

  1. Login to QuickBooks as a single user
  2. Go to the File menu
  3. Click “Back Up Company”
  4. Select “Create A Local Backup”
  5. Choose “Local Backup”
  6. Click “Options” to choose your save location
  7. Click “Ok” and “Next”
  8. Choose “Save It Now” and click “Finish”

As we can see, there shouldn’t be any code or complex roadmaps involved – just a lot of clicking.

You can save your backup anywhere. Since your backup will likely contain sensitive data, we recommend keeping it on an external hard drive or a secure cloud server used for sensitive data.

You may also want to go ahead and export your data as a CSV or Excel file while you’re at it. When you migrate your systems, you will need this data to avoid starting from scratch in NetSuite.

Notify your vendors and customers

You’ll also want to notify your vendors and customers about your new billing system. While most migrations shouldn’t affect customer relations, it’s good to cover all of your bases. Typically, you’ll want to do this at least three weeks or so before you migrate.

Your email just needs to give your customers a heads up that you’re making the switch. One solid example is Calendly’s recent email to customers, informing them about a recent billing system upgrade:

Organize staff training

Finally, you’ll also want to set aside time to help your team adjust to the new software. While QuickBooks is an efficient system, NetSuite is incredibly robust and has several new features.

When you decided to migrate to NetSuite, you have likely mapped out how you want your new operations to run. This is the time to clue your team in on the changes. You may also consider putting together a cheat sheet to help them remember any new processes for the first month or so.

Best practices for migrating from QuickBooks to NetSuite

Successful migration to QuickBooks will allow your team to hit the ground running without the hassles of reentering transactions or clients manually. Switching to a new ERP should boost efficiency, and the last thing you want is more downtime.

  1. First, transfer your data.

There are a few ways to do this. The most common way is by going to Settings, Tools, and then clicking on “Export Data.” We suggest exporting both reports and lists. However, keep in mind that when you upload this data into NetSuite, you’ll need to go back and validate all of your information. NetSuite has a more complex classification system, and there may be errors or gaps in your data.

Another method is to use an automated plugin to sync the two platforms. This takes longer than an Excel upload, but it’s generally more accurate.

Finally, the last way is to hire a consultant or third party to handle your migration. Depending on your bandwidth, this might be the most effective solution. Since the migration is a one-time cost, you can ensure it is done correctly and have your staff focus on training or other tasks until the migration is completed.

  1. Have a NetSuite guru on call

Whether you have a designated person on staff or a consultant, you’ll want someone on hand to help you make adjustments and answer team questions.

In addition to having a NetSuite pro on deck, it can be beneficial to keep IT up to speed on changes. Your IT department can ensure all other aspects of your infrastructure are working correctly and help with troubleshooting.

  1. Know what metrics you want to track

Before you make any changes, ensure you know what KPIs you want to track and how you will gauge success with the new platform. This results-oriented approach is not only essential, but it will also make it easier to maintain buy-in with the rest of the executive team.

  1. Define and refine your NetSuite goals

You may have already planned out how you want to use NetSuite going forward. But once you get your team working with the platform, you may want to revisit your roadmap and make some adjustments. The longer you work with NetSuite, the more the process will become refined.

  1. Review add-ons and plugins for optimal efficiency

Finally, as your team begins to work with NetSuite, you may notice gaps or other parts of the process that you want to streamline. Since NetSuite has countless integrations, you will find that there will be many ways to optimize your ERP. There is a legion of additional services from AR automation to customer support that can boost your efficiency and reduce DSO.

B2B payments and invoicing integrations are particularly useful. Not only can these automated payment options help you wean vendors and customers off of check payments, but you can offer a wide variety of payment types. ACH, bank-to-bank transfers, and credit card options are all quick ways to get paid in real-time. And through NetSuite, you can track every single transaction.

Since you can access most integrations from the NetSuite dashboard itself, the sooner you add these plugins to your process, the easier it will be for your team.

Optimizing NetSuite

NetSuite itself is a powerful engine. But what really sets it apart as an ERP is its versatile and comprehensive setup, supplemented with additional integrations. To maximize the use of your new NetSuite program and free up time and resources, you’ll want to automate your AR and AP operations.

Through Paystand, NetSuite users can digitize receivables, automate processing, reduce time-to-cash, eliminate transaction fees, and enable new revenue. While we can’t speak for all NetSuite AR automation integrations, there are several services best-in-class automation software should provide, including the ability to do the following:

  • Process all major credit and debit cards, ACH, eCheck, and 0% fee bank payments
  • Access lower transaction fees with our wholesale credit card processing rates
  • Leverage built-in fee management controls like convenience fees
  • Automate cash application, revenue recognition, reporting, and payment reconciliation
  • Accept partial payments
  • Allow customers to pay multiple invoices at a time

If you want to know more about how automation in NetSuite can streamline operations for your team, check out this eGuide on choosing the best application for your needs.