The well-known accounting software QuickBooks Online is exiting the Indian market on 30th April 2023. As the deadline gets closer, the rush to migrate from QuickBooks online to other software is at an all-time high.
This migration process is creating a lot of chaos and is leading to a lot of confusion you might be thinking about migrating from Quickbooks to Tally, Zoho, ProfitBooks, Freshbooks, etc.
Before you jump the gun and decide to carry out all your accounting activities on the first popular accounting software you find, the following are some things you should consider doing first.
- Software compatibility
- Data migration
- Training & support
- Longevity of the company
- Future updates
Software compatibility
Quickbooks Online was a multi-faceted cloud base online software. which took care of a range of functionalities. Now that you are searching for other software make sure that it is online cloud-based accounting software. This will make sure that you do not lose your data and migration is a much simple process, and it will also help you avoid a learning curve that you might face.
Data migration
The most important aspect of this migration is to make sure that you don’t lose your data. When migrating from QuickBooks online, make sure that you clear your QuickBooks account first. Once that is taken care of, take backups of all the contacts, financial statements, and other important original files.
There is a high chance that you might lose data during migration. To minimize the loss make sure to back up all your company files.
Training & Support
Migration is an overwhelming process as is, so make sure that you are not wasting your time explaining your situation to every other software company you are trying to export data.
Quickbooks Online has announced its exit from the Indian market in September 2022. That is a long period for preparing their staff for the data export process support.
If your new software is not allowing a smooth migration from QuickBooks online, it will cost you not only money but also time.
Longevity of the company
Quickbooks Online is a US-based company that launched its product QuickBooks Online in India in 2012.
The software version they made available for Indian markets was cheap and easy the business growth of the company became stagnant as they failed to understand the Indian market
In the past 10 years since QuickBooks entered the Indian market a lot of promising accounting software companies that not only understand the Indian markets but are also based in India have become popular.
with QuickBooks software exiting India, it’s safe to say it will be durable for Indian businesses owner to invest in cloud-based accounting software from an Indian company. As not only do they understand the Indian market better, but also will be able to match the low rates you are used to with QuickBooks.
Future updates
The easiest way for any software to be relevant is to make consistent updates to its system to stay updated with the current market needs. example, Integrating GST once it was introduced to the Indian market. Something Quickbook failed to do.
Now as you are migrating from QuickBooks to other software take a look at how many times the software launch future updates with accords to the market, this will help you to take a sound decision.
Migration from QuickBooks to ProfitBooks
Once you have done all the above-mentioned things and are ready to start your migration process, you will come across a lot of popular accounting software like Zoho, tally, FreshBooks, etc. We recommend you check out this software to take an informed decision for your migration, but the following is some information about ProfitBooks to help you with your conversion process
ProfitBooks is a Pune-based accounting online software company, actively working in the sector for the past 10 years.
ProfitBooks was also recently voted as the “Best inventory management software in India for SMEs” by Capterra.
ProfitBooks is created with the business owner in mind, not just an accountant or CA. Hence, even a person with no accounting experience can use the software with easy.
A lot of accounting activities like creating invoices, maintaining a chart of accounts, proper payment gateway integration, automatic backups, etc. Can be done easily in ProfitBooks as it’s on QuickBooks.
Our support staff is well-trained for this migration process and we can ensure a smooth transaction from QuickBooks.
ProfitBooks is one of the most affordable software on the market, which allows its users to access a lot of accounting features such as invoicing, payables & receivables, inventory management, GST tax filing, etc.
Conclusion
Migration from a trusted accounting software can be an overwhelming process, but it’s important to take the things mentioned in the article into consideration before you start the migration process.
If you wish to migrate to ProfitBooks contact [email protected]
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