The Complete Guide to Migrating from Bench to Xero

The unexpected shutdown of Bench Accounting has left countless small businesses searching for alternative solutions to manage their financial data. Xero, a globally recognized cloud accounting platform, is the perfect choice for businesses seeking reliability, scalability, and powerful tools to manage their finances. However, migrating from Bench to Xero requires careful preparation and a comprehensive approach to ensure a smooth transition.

As global Xero migration specialists, Ecloud Experts understand the challenges involved in such migrations. In this guide, we’ll outline everything you need to successfully migrate your financial data from Bench to Xero while minimizing disruptions to your business.

Why Choose Xero for Your Business?

Xero is a cloud-based accounting solution designed to help businesses of all sizes manage their finances effectively. Here’s why it’s a great alternative to Bench:

• Real-Time Reporting: Xero offers real-time insights into your financial performance with customizable dashboards and reports.

• Seamless Integrations: Xero integrates with hundreds of apps, including payroll systems, inventory management tools, and eCommerce platforms.

• Tracking Categories: Analyze income and expenses by department, project, or location without cluttering your chart of accounts.

• Global Accessibility: As a cloud-based platform, Xero enables you to access your financial data from anywhere, on any device.

By transitioning to Xero, businesses can continue to operate efficiently with advanced features that adapt to their needs.

What You Need to Migrate from Bench to Xero

Migrating to Xero is more than just transferring data; it’s about maintaining the accuracy and integrity of your financial records. Below is a list of essential reports and data you’ll need to prepare:

1. Opening Trial Balance

The Opening Trial Balance establishes the starting point for your financial records in Xero.

 • Why It’s Needed: To ensure continuity in your financial accounts.

 • What to Include: Balances for assets, liabilities, and equity accounts as of the migration start date.

2. Opening Accounts Payable (Aged Creditors Report)

This report details all outstanding supplier payments.

 • Why It’s Needed: To accurately track unpaid bills and liabilities in Xero.

 • What to Include: Supplier names, bill reference numbers, due dates, and amounts.

3. Opening Aged Receivables (Aged Debtors Report)

The Aged Debtors Report lists all unpaid customer invoices.

 • Why It’s Needed: To ensure accounts receivable data is carried over correctly.

 • What to Include: Customer names, invoice numbers, due dates, and amounts.

4. General Ledger or Journal Reports

The General Ledger Report provides a detailed record of financial transactions during the migration period.

 • Why It’s Needed: To ensure all historical transactions are accurately migrated.

 • What to Include: Transaction dates, account names, transaction types (e.g., sales, expenses), and amounts. Include tracking categories or cost centres for detailed analysis.

5. Bill Payment / Allocation Reports

This report tracks payments made to suppliers and their allocation to specific bills.

 • Why It’s Needed: To prevent mismatched or missing payments during migration.

 • What to Include: Payment dates, methods, supplier names, and the bills to which payments were applied.

6. Customer Receipt / Allocation Reports

This report details payments received from customers and their allocation to invoices.

 • Why It’s Needed: To accurately reflect accounts receivable balances in Xero.

 • What to Include: Customer names, payment dates, methods, and the invoices matched to payments.

7. Chart of Accounts

The Chart of Accounts categorizes all financial transactions in Xero.

 • Why It’s Needed: To ensure transactions are properly organized for reporting and analysis.

 • What to Include: Account names, codes, and descriptions.

8. Contacts (Customers and Suppliers)

Maintaining a complete Contacts List ensures seamless invoicing and payments in Xero.

 • Why It’s Needed: To retain customer and supplier details for ongoing transactions.

 • What to Include: Names, addresses, contact details, and additional information.

9. Closing Trial Balance

The Closing Trial Balance confirms that all data has been successfully migrated at the end of the migration period.

 • Why It’s Needed: To verify that balances in Xero match the final figures from Bench.

 • What to Include: Final balances for all accounts, including assets, liabilities, and equity.

10. Closing Accounts Payable and Receivable Reports

These reports provide a snapshot of unpaid bills and outstanding invoices at the end of the migration period.

 • Why It’s Needed: To ensure no outstanding balances are overlooked.

 • What to Include: Detailed lists of unpaid invoices and bills with due dates and amounts.

How to Prepare for the Migration

   1. Backup Your Data: Download all essential reports from Bench in Excel or CSV format.

   2. Verify Data Accuracy: Cross-check reports for completeness and accuracy.

   3. Format Data for Xero: Reorganize data to align with Xero’s import templates.

   4. Set Up in Xero: Recreate tracking categories, chart of accounts, and contact lists in Xero.

   5. Import and Verify: Use Xero’s import tools to upload data and verify accuracy.

Common Challenges and How to Overcome Them

   • Incomplete Data: Work with an expert to ensure no key data is missed during the migration.

   • Mismatched Transactions: Use allocation reports to verify payments are linked to the correct bills and invoices.

    • Unallocated Entries: Double-check that all transactions have appropriate tracking categories or cost centres.

How Ecloud Experts Can Help

Migrating from Bench to Xero can be complex, but Ecloud Experts, global Xero migration specialists, are here to simplify the process. As a Xero Gold Champion Partner, we have the expertise to:

  • Extract and prepare data from Bench with precision.

  • Set up tracking categories, cost centres, and chart of accounts in Xero.

  • Import and verify data to ensure accuracy.

  • Provide post-migration support, including Xero training and ongoing assistance.

Whether you’re managing multi-currency transactions or handling complex allocations, Ecloud Experts specialize in delivering seamless migrations tailored to your business needs.

Why Trust Ecloud Experts?

  • Global Expertise: We’ve helped businesses worldwide transition to Xero effortlessly.

  • Certified Specialists: As a Xero Gold Champion Partner, we’re certified migration experts.

  • Comprehensive Support: From data preparation to post-migration assistance, we’re with you every step of the way.

Contact Ecloud Experts Today

If you’re looking to migrate from Bench to Xero, Ecloud Experts are your trusted partners for a seamless transition. With our expertise, your business can continue operating smoothly while enjoying the benefits of Xero.

Get in touch with us today to start your migration journey!