For a source QuickBooks file with good data integrity this is largely possible, although it is somewhat dependent on the features in use in the file.
For files using inventory, especially with highly precise quantities or high transaction volume, there may be differences in cost of goods sold and inventory value due to simple differences in the order of transaction entry or rounding. These are normally small, and adjustments can be made to match the expected results.
Inventory which is invoiced before it is received, also called negative inventory, can also result in changes for cost of goods sold and inventory asset for specific transactions. In some situations, this can make it difficult to match values while the quantity on hand for an item is negative. As this is a non-recommended workflow, it may help to clean up such issues in the source file before doing the migration, if possible.
There are some features which are difficult or impossible to export from an existing file, or to import into a new file. Credit card numbers are by design not exportable for financial information security. Other data for lists or some types of transactions may not be importable, and the manual entry time required may make bringing such data over “as is” very impractical. If your file includes any data which is difficult to migrate, we can discuss the available options.
In the case of a damaged source file, it is possible the damage is affecting report results and usability of the existing data, so it may be necessary to decide how to address any apparent issues. With our extensive experience in working with damaged data files, we can help evaluate the issues and options.
For data coming from another financial software, the overall financial report results are achievable, although they may have a different account detail organization depending on differences between the source application and the QuickBooks account structure. The achievable transaction detail is highly dependent on what detail can be exported from the existing software and how that can be translated into the available transaction types and data structure in QuickBooks. We can discuss the details and work through the careful evaluation and planning needed for this sort of migration.