When migrating transactions such as card payments, fund transfers, and deposits from Zoho Books to NetSuite, follow these steps to ensure a smooth process:
- Export Transactions:
- Unlike bills, invoices, journals, credit memos, and vendor credits, you cannot fetch a list of transactions like card payments, fund transfers, and deposits directly from Zoho Books.
- Export the “Account Type Transaction” report from Zoho Books for the relevant time period.
- Handling in NetSuite:
- In NetSuite, transfer funds must be created manually. If there are many transfer funds, consider migrating them as journal entries.
- Similarly, deposits and card payments might need to be created as journal entries due to missing mandatory values.
- Prepare the Report:
- The exported report from Zoho Books will be sorted by account name.
- In Excel, sort the report by transaction ID so that transactions with the same ID appear in adjacent columns.
- Convert the date format from “yyyy-mm-dd” to “mm/dd/yyyy”.
- Fetch the corresponding account names in NetSuite for the Zoho Books accounts listed in the report.
- Use the VLOOKUP function to get the internal ID of the Chart of Accounts (CoAs) from NetSuite.
- Map the description from Zoho Books to the memo field in NetSuite.
- Convert debit and credit columns to number format.
- Ensure that subsidiary, currency, and exchange rate columns are included in the file for import.
- If the currency and subsidiary have only a single value, you can hardcode these values while importing.
- If there are multiple values, fetch the internal IDs for currency and subsidiary.
- The exchange rate will not be available in the file. Calculate the exchange rate by dividing the base currency amount by the foreign currency amount.
- Final Preparation:
- After ensuring all necessary fields are included and properly formatted, the file will be ready for import into NetSuite.