Are you migrating from a legacy AMS that tracked your accounts receivable? If so, you may need to make sure that your open A/R is accounted for in QuickBooks Online.
What is Open A/R?
Open Accounts Receivable is essentially your open invoices that have not been paid.
Remember, Novi treats QuickBooks as the system of record for accounting, so any A/R will need to be placed directly into QuickBooks to show that those invoices are still open and due. It will not be a part of the member data import into Novi.
Don't worry, as long as the customer display name in QuickBooks matches what your membership person provides us for data import, the system will automatically match up your QuickBooks customer records to Novi's membership records.
How do I know if my AMS has open invoices?
Your AMS may have different ways to figure out if you have open invoices (A/R). Here are a few suggestions to try:
Navigate to the Billing or Accounts Receivable Section: Look for a section labeled “Billing,” “Accounts Receivable,” “Invoices,” or something similar. Most AMS platforms have a dedicated area to manage customer payments.
Review Transaction History: If your AMS has a transaction history or payment status section, review it for any entries that are listed as “Unpaid” or “Outstanding.”
Export or Print a List: If you have a large volume of invoices, some AMS systems allow you to export open invoices to a file or print a list. This can make it easier to transfer them to your new QuickBooks Online account.
Once you've found the open invoices, make sure to note the invoice numbers, dates, amounts, and any other relevant details. This information will be essential when you transfer the outstanding balances to your QuickBooks Online account.
How do I get my Open Invoices into QuickBooks Online?
If you have a couple hundred transactions to import, your instinct might be to use an automated tool. You're certainly welcome to do so, but we wanted to pass along some advice from other Novi customers.
They suggest that you manually input transactions instead of trying to manually import them into QuickBooks.
At 20 seconds per transaction, you could do 3 per minute... which is 180 in an hour. If you have less than 1,000 open transactions, it might be worth it to just hand code.
If there are more, then you may want to investigate an automated transaction importer in the QuickBooks app store. Just remember that with great power comes great responsibility. You want to ensure that things come in correctly.
Regardless of the approach you choose to take, just make sure to account for the revenue that you're adding. You may need offsetting journal entires to ensure that you don't duplicate your revenue. If you're unsure, this might be an area where your accountant or CPA can help.