QBO Import User Guide

While independent research shows that 62% of small businesses don't use any accounting software yet, leaving a major greenfield opportunity for your platform, Hurdlr's customer-partners have also migrated thousands of businesses off of QuickBooks Online using Hurdlr's QBO Import functionality.

The QBO Import functionality allows you to transfer a business’s QBO data into your embedded accounting platform, preserving the business’s historical financial information.

Getting started

Your team can enable QuickBooks Online migrations by embedding the QBO Import component for your users to access directly, via the Embedded Accountant Dashboard for your bookkeepers to access, or via the QBO Import API if your company wants to migrate a large volume of accounts en masse.

📘

Best Practice

The business owner has the best experience when the QBO import is performed prior to linking bank accounts or adding other transactional data, that way the Hurdlr API is able to ensure that any newly linked bank accounts don't pull in duplicate data that was already tracked in the user's prior accounting software.

Accessing the QBO Import from the Embedded Accountant Dashboard

1. In the Embedded Accountant Dashboard, click the ‘Action’ button next to the business that requires the QBO Import.

   

2. Select ‘Import from QBO’ from the dropdown menu.

   

Accessing the QBO Import from the QBO Import Component

Rendering the QBO Import component your in embedded accounting platform, launches directly into the import flow, which starts with uploading reports from QBO.

Navigating the import process

Uploading reports

1. Add the QBO reports to the corresponding fields.

   

   1. These reports can be exported from QBO as follows:

      1. ‘Accounts List CSV’: Click Transactions -> Chart of accounts -> Export icon -> Export to Excel
      2. ‘Journal CSV’: Click Reports -> Journal -> Switch to classic view -> Select the date range -> Export icon -> Export to Excel
      3. ‘Beginning Balance Sheet CSV’ (i.e. a balance sheet from the day before the first transaction in the Journal): Click Reports -> Balance Sheet -> Switch to classic view -> Select the day before the first transaction in the Journal -> Export icon -> Export to Excel
      4. ‘Ending Balance Sheet CSV’ (i.e. a balance sheet from the day of the most recent transaction in the Journal): Click Reports -> Balance Sheet -> Switch to classic view -> Select the day of the most recent transaction in the Journal -> Export icon -> Export to Excel
      5. ‘Ending Profit & Loss CSV’ (i.e. a P&L report from the day of the most recent transaction in the Journal): Click Reports -> Profit and Loss -> Switch to classic view -> Set the end date to the day of the most recent transaction in the Journal -> Export icon -> Export to Excel
      6. ‘Invoice and Received Payments’: Click Reports -> Invoices and Received Payments -> Select the date range (same as Journal CSV from b) -> Export icon -> Export to Excel
      
      

      📘

      Report Optionality

      The Balance Sheet, Profit & Loss, Invoice reports are optional, but strongly recommended. The Hurdlr API uses these reports to verify the accuracy of the import process. Importing them allows comparison of the QBO reports against Hurdlr’s data to ensure everything is accurate.

2. Once the files are mapped, click the ‘Next’ button in the top right corner.

   

Mapping the Chart of Accounts

After the reports are uploaded, Hurdlr's algorithms map the business's prior chart of accounts to the new chart of accounts. An outline of the GL account mapping will be shown for each account that was used by the business (i.e. each account with journal entries in the business's records).

For any accounts that were not automatically mapped, either select the correct GL account or add a new GL account to the user's Chart of Accounts before continuing with the import:

1. Select an existing GL account from the list.

   

2. Add a new GL account by clicking the plus sign and completing the account details.

   

These options can also be used to edit the 'New Account' mapping as needed. Once all accounts are correctly mapped, click the ‘Done’ button in the top right corner.

Reviewing the import results

Processing the QBO Import may take a few minutes. Once completed, the status note above the business’s email/name will change from ‘Import from QBO in Progress’ to ‘Import from QBO Completed’.

To verify the import, click the completed notification or click the ‘Action’ button next to the business and select ‘Import from QBO’. There will be a notification confirming the successful import, along with options for further review:

1. Results: Shows any import failures. The status column should display ‘SUCCESS’ for all journal entries. If there are any failures, please contact the Hurdlr team.

   

2. Balance Sheet Comparison - Highlights discrepancies between the Balance Sheet data from QBO and Hurdlr.

   

3. Profit & Loss Comparison - Displays differences in the P&L data between QBO and Hurdlr.

   

Best practices

1. Complete the QBO import before the business owner links bank accounts or starts adding data. It’s recommended to withhold account access from the business owner until the QBO import is completed and verified.
2. For the first 5-10 migrations, it’s best to test the files in the Sandbox environment to verify the accuracy of mapping and reporting for your organization’s Chart of Accounts. This approach minimizes the need for re-importing.
3. For unmapped accounts, Hurdlr will follow up with the Partner to determine if specific mappings should be automated. This reduces errors and minimizes manual mapping over time.
4. After completing the QBO import, business owners can link their bank accounts and credit cards via the Embedded Accountant Dashboard.
   1. When bank accounts and credit cards are linked, Hurdlr will only pull transactions from the date of the last transaction tracked in QBO.
   2. Bank accounts and credit cards from QBO should be merged into the corresponding accounts linked in Hurdlr.