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- Move Your Accounting Data from Wave to Xero
Wave to Xero Migration Service
Moving away from Wave Accounting does not mean you have to leave important financial information behind. Our Wave to Xero Migration service helps businesses transfer their accounting data from Wave into a properly configured Xero organisation. We plan the migration around your accounting records, required history and future reporting needs. Our specialists review your existing Wave data, define what needs to be transferred, prepare the information for Xero and validate important balances after migration. Whether you need opening balances, comparative financial history or a more detailed transaction-level migration, we can define a suitable Wave to Xero migration approach for your business. Get a Migration Quote Book a Discovery Call
Xero Gold Champion Partner
Xero Migration Specialists
AAT Licensed Accountant
Clients We Migrated into Xero
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- Wave Accounting to Xero Migration
Moving your accounts requires more than exporting and importing files
A Wave Accounting to Xero migration involves moving financial information between two different accounting systems.
Wave and Xero do not necessarily organise every account, transaction and accounting record in exactly the same way. Because of this, a reliable migration requires planning, data preparation, account mapping and validation.
Before we start your Wave to Xero conversion, we establish what information you actually need inside Xero.
This may include:
Chart of accounts
Customers
Suppliers
Sales invoices
Supplier bills
Credit notes
Payments
Bank transactions
Credit card transactions
Journals
Opening balances
Historical transactions
Outstanding receivables
Outstanding payables
Fixed asset information
Tax-related balances
Multicurrency requirements
We then create a defined migration scope so you know what is being transferred before work begins.
- What Can We Migrate from Wave to Xero?
Build your Wave to Xero migration around the records you need
Not every business needs the same information transferred. The data included in your Wave to Xero Migration will depend on your Wave records, the available source information and the migration option you choose.
01
Chart of Accounts
Your existing account structure is reviewed before it is mapped into Xero. We look at how your income, expenses, assets, liabilities.
02
Customers
Relevant customer information can be prepared for migration so you can continue managing customer accounts within Xero.
03
Suppliers
Supplier records required for future purchasing and accounts payable can be transferred as part of the agreed migration scope.
04
Sales Invoices
Historical or outstanding sales invoices can be included depending on how much accounting history you want to retain.
05
Supplier Bills
Relevant supplier bills and outstanding payable positions can be considered as part of the Wave data migration.
06
Credit Notes
Applicable customer and supplier credit information can be reviewed where it forms part of the agreed migration.
07
Payments
Payments associated with migrated transactions can be considered where the selected migration method and available records allow them to be recreated appropriately.
08
Bank Transactions
Relevant bank and credit card transaction history can be prepared for migration based on the agreed historical period.
09
Journals
Accounting journals required to recreate agreed financial positions can be included where appropriate.
10
Opening Balances
If you do not need detailed historical transactions, we can establish an agreed starting position in Xero using opening or conversion balances.
11
Historical Accounting Data
Businesses requiring more financial history can discuss a deeper Wave to Xero data migration, including agreed historical periods and transaction types.
12
Multicurrency Requirements
If your business operates in multiple currencies, we review the currencies, historical requirements and relevant accounting positions before determining the migration approach.
- Three Ways to Migrate Wave to Xero
Choose how much accounting history you need
You do not automatically need every transaction ever created in Wave. One of the first decisions in a Wave to Xero Migration project is how much historical information should be available in Xero. We generally discuss three levels of migration.
Level 01
Opening Balance Migration
An opening balance migration can be suitable when detailed historical transactions do not need to be recreated in Xero.
- Chart of accounts
- Customer records
- Supplier records
- Opening account balances
- Outstanding sales invoices
- Outstanding supplier bills
- Bank opening balances
- Credit card positions
- Relevant tax balances
- Other agreed balance sheet positions
This approach gives you a defined starting point while previous detailed accounting records remain available separately for reference.
Level 2
Recent History
Some businesses want more than opening balances but do not need every historical transaction rebuilt. A comparative Wave to Xero conversion can include agreed previous-period accounting information to support comparison and management reporting. This can be useful when you want to compare current Xero performance against previous accounting periods.
The exact historical periods and information included are agreed during migration scoping.
Level 3
Full Historical Migration
A detailed historical Wave to Xero Migration is designed for businesses that require a deeper level of accounting history inside Xero.
- Sales transactions
- Purchase transactions
- Payments
- Bank transactions
- Journals
- Customer activity
- Supplier activity
- Historical balances
- Other accounting records
Detailed migration normally requires more preparation and validation because individual records and their accounting impact need to be considered.
- Our Wave to Xero Migration Process
A structured process from Wave data review to Xero handover
A successful migration requires more than moving files between systems. Our Wave to Xero migration service follows a defined process so the scope, source information and final accounting position can be reviewed.
Step 1 — Discovery
We start by understanding your business and how you currently use Wave. This gives us the information needed to understand the complexity of your Wave Accounting migration.
- Number of businesses
- Customer numbers
- Outstanding bills
- Existing integrations
- Financial year end
- Supplier numbers
- Fixed assets
- Required conversion date
- Bank accounts
- Multicurrency
- Years of accounting history
- Credit cards
- Tax requirements
- Monthly transaction volumes
- Outstanding invoices
- Reporting requirements
Step 2 — Define the Migration Scope
We agree what should and should not be transferred. This is an important stage because “migrate everything” can mean different things to different businesses.
- Historical periods
- Xero configuration requirements
- Transaction types
- Special accounting requirements
- Opening positions
- Outstanding transactions
- Relevant master data
Step 3 — Review Wave Data
Before we migrate Wave to Xero, we review the available source information. Where significant problems are identified, we discuss the appropriate treatment rather than blindly carrying those problems into Xero.
- Duplicate contacts
- Inconsistent descriptions
- Duplicate transactions
- Old unused accounts
- Missing information
- Bank differences
- Incorrect account coding
- Historical accounting issues
- Unusual balances
Step 4 — Prepare Xero
The Xero organisation is prepared around the agreed requirements.
- Organisation details
- User access
- Financial settings
- Tracking requirements
- Chart of accounts
- Invoice settings
- Tax settings
- Fixed asset requirements
- Bank accounts
- Relevant integrations
Step 5 — Prepare and Transform Data
Wave information may need to be cleaned, mapped or reformatted before it is suitable for Xero. This is where account structures and source records are prepared according to the agreed Wave to Xero conversion plan.
Step 6 — Data Migration
We transfer the agreed accounting records into Xero using the appropriate migration method. The process depends on the volume, historical depth and type of records included.
Step 7 — Validation
After migration, relevant balances are compared against agreed Wave source information. Differences identified during validation are investigated before the project is considered complete.
Step 8 — Handover
Once the agreed checks are completed, the Xero organisation is prepared for handover. We can explain what has been migrated, the agreed conversion position and any items your team should know about.
Step 9 — Training and Support
If required, we can provide Xero training and post-migration support to help your team start working with the new system.
- Wave to Xero Migration Validation
Getting data into Xero is only part of the job
A Wave to Xero Migration should not be judged only by whether records appear on the screen. The accounting position also matters. Depending on your migration scope, our validation process can include the following checks.
Trial Balance
Compare relevant account balances between the agreed Wave source position and Xero.
Customer Balances
Review agreed outstanding customer balances to confirm the receivables position.
Supplier Balances
Compare relevant outstanding supplier balances and accounts payable positions.
Bank Balances
Check applicable bank and credit card positions against agreed source information.
Tax Balances
Review relevant tax-related balances included within the migration.
Balance Sheet Accounts
Check important asset, liability and control account positions.
Opening Position
Confirm that the agreed opening position in Xero reflects the defined migration scope.
Exception Review
Material differences identified during checking are reviewed so they can be understood and addressed.
- Common Wave to Xero Migration Problems
Identify migration risks before they become Xero problems
Accounting migrations can expose issues that were easy to overlook in the previous system. Understanding those issues before completing the Wave to Xero conversion can make the new accounting environment easier to manage.
Different Chart of Accounts
Wave and Xero may not use identical account structures. Accounts therefore need to be reviewed and mapped appropriately rather than automatically duplicated.
Duplicate Contacts
Historical customer and supplier records can contain duplicate or inconsistent information. Where appropriate, these records should be reviewed during preparation.
Inconsistent Historical Data
Older transactions may contain missing descriptions, incorrect coding or inconsistent accounting treatment. The migration scope should determine how these records are handled.
Outstanding Invoices
Open customer invoices need to support the receivables position you expect to see after moving to Xero.
Outstanding Supplier Bills
The same principle applies to supplier bills and accounts payable.
Bank Differences
Migrating transactions does not automatically mean the bank position is correct. Relevant balances should be checked at the agreed migration date.
Tax Differences
Tax structures and codes can differ between accounting platforms. Relevant tax settings and balances therefore need careful consideration.
Historical Reporting
If previous-year comparison is important, the required historical periods need to be agreed before migration starts.
Multicurrency Complexity
Foreign currency transactions can make historical migration more complex. The currencies, transaction history and required reporting should be considered during scoping.
- Why Businesses Move from Wave to Xero
Your accounting requirements may have outgrown your current setup
Wave can work well for certain businesses, particularly where accounting requirements are relatively straightforward. As a business grows, its finance team may need additional accounting, reporting, access or integration capabilities. This can lead businesses to switch from Wave to Xero.
More Detailed Financial Reporting
01
Xero provides reporting tools that can help businesses review financial performance and accounting positions.
Bank Reconciliation
02
Eligible bank feeds and Xero reconciliation tools can support ongoing bookkeeping processes.
User Access
03
Business owners, finance staff, bookkeepers and accountants can be given appropriate access to the Xero organisation.
Tracking
04
Where suitable, tracking can help businesses analyse different areas of their operations.
Fixed Assets
05
Applicable fixed assets and depreciation can be managed within Xero.
App Ecosystem
06
Xero can connect with a wide range of business applications covering areas such as payments, ecommerce, expenses and reporting.
Growing Finance Teams
07
As more people become involved in finance processes, access and workflow requirements can become more important.
- Wave to Xero Migration for Different Businesses
Your migration should reflect how your organisation operates
A small single-entity company has very different migration requirements from a business operating several companies, currencies or sales channels. Our Wave to Xero migration service can be scoped around different business structures.
01
Limited Companies
Move relevant accounting records, outstanding transactions and opening positions into Xero.
02
Groups of Companies
Plan migrations across multiple legal entities and Xero organisations. Each entity can be scoped separately so the accounting records remain appropriately separated.
03
Multicurrency Businesses
Review foreign currency transactions, balances and reporting requirements before migration.
04
Ecommerce Businesses
Consider payment gateways, ecommerce platforms, bank deposits, sales records and relevant integrations.
05
Professional Services
Retain useful accounting history while establishing an appropriate Xero structure for ongoing financial management.
06
Retail Businesses
Review transaction volumes, payment systems, bank accounts and accounting integrations.
07
Construction Businesses
Consider accounting structure, cost analysis and reporting requirements as part of the Xero setup.
08
Charities and Not-for-Profit Organisations
Review the organisation’s accounting and reporting requirements before determining the Xero structure.
Organisation Settings
Configure relevant organisation and financial information.
Chart of Accounts
Set up an account structure appropriate for the agreed migration and future accounting requirements.
Bank Accounts
Prepare applicable bank and credit card accounts.
Tax Settings
Configure relevant tax settings based on the agreed requirements.
Users and Permissions
Set up suitable access for business owners, finance teams and advisers.
Tracking
Configure applicable tracking requirements where they form part of your Xero setup.
Fixed Assets
Review and establish relevant fixed asset information where required.
Invoice Settings
Configure appropriate invoice settings for future customer billing.
Reporting
Review the reporting structure required after migration.
Integrations
Discuss relevant business applications that need to connect with Xero.
- Xero Setup After Wave Migration
Do not stop at data transfer
Your Xero organisation needs to be usable once the Wave data migration is finished. Where required, our service can include Xero setup and configuration.
Help your team get comfortable with Xero
Changing accounting software affects more than your data. Your team also needs to understand how everyday tasks work in the new platform. After completing your Wave to Xero Migration, we can provide practical Xero training based on the areas your team actually uses.
Xero navigation
Customer invoices
Contacts
Bank reconciliation
Credit notes
Reporting
Tracking
Fixed assets
Tax workflows where relevant
Day-to-day accounting processes
Get help after you start using Xero
Some questions only appear after your team starts working in the new system. Post-migration support can help you deal with those questions without leaving your team to work everything out alone.
Migration questions
Xero configuration
Bank reconciliation
Reporting
User access
Accounting workflows
Data queries
Xero integrations
Additional training
Relevant corrections
Specialist accounting software migration support
Choosing the right migration partner matters because financial data needs more than technical file handling.
Xero Specialists
Work with a team experienced in Xero migration, implementation, training and support.
Migration Validation
Relevant balances are compared against agreed source information based on the migration scope.
Accounting Software Migration Experience
We support businesses moving from different accounting systems into Xero, including businesses looking to move from Wave to Xero.
Defined Migration Scope
Before work begins, we establish the records, periods and requirements included in your project.
Accounting-Focused Migration
We consider the accounting meaning behind your records instead of treating your migration as a basic data import.
Data Preparation
Wave records can be reviewed and prepared before they are transferred into Xero.
Migration Validation
Relevant balances are compared against agreed source information based on the migration scope.
Complex Migration Requirements
We can discuss requirements involving historical transactions, multiple entities, multicurrency, fixed assets and other accounting complexities.
Xero Setup
Your project can include relevant Xero configuration so the new organisation is prepared for ongoing use.
Xero Training
Practical training can be provided to help your team understand the new accounting workflows.
Tell us about your current Wave setup
Every Wave to Xero Migration is different. Providing the following information helps us understand the amount of work involved and prepare an appropriate quotation.
We may ask for:
Number of businesses to migrate
Financial year end
Preferred migration date
Number of historical years required
Approximate monthly sales transactions
Approximate monthly purchase transactions
Approximate monthly bank transactions
Number of bank accounts
Number of credit cards
Approximate number of customers
Approximate number of suppliers
Outstanding invoices
Outstanding supplier bills
Multicurrency requirements
Fixed asset requirements
Tracking requirements
Tax requirements
Payroll requirements
Current integrations
Required Xero integrations
Training requirements
Post-migration support requirements
Once we understand the scope, we can provide a quotation based on the actual migration requirements.
EXPLORE MORE XERO MIGRATIONS
More Platforms We Migrate to Xero
We migrate businesses to Xero from a wide range of accounting platforms, with careful data mapping, reconciliation and support throughout the move.
- FAQ
FreshBooks to Xero migration FAQs
Yes. Businesses can move accounting information from Wave into Xero. The exact migration approach depends on the available Wave data, the amount of history required and the type of accounting records you want available in Xero.
The process normally involves reviewing and exporting relevant Wave information, defining the migration scope, preparing the data, configuring Xero, transferring the agreed records and validating important accounting balances. For more complex accounting records, using a specialist Wave to Xero migration service can help manage the preparation, mapping and validation work.
Depending on the project, a Wave to Xero Migration may include chart of accounts, contacts, invoices, bills, payments, bank transactions, journals, opening balances and agreed historical information. The exact data available for migration should be confirmed during the initial assessment.
A detailed historical migration may be possible depending on the source records and required transaction types. However, not every business needs all historical data inside Xero. We first establish the periods and level of detail that are genuinely useful.
Yes. If you do not need detailed historical transactions in Xero, an opening balance migration may provide a more appropriate starting point.
Outstanding customer invoices can be considered as part of the migration scope so your receivables position can continue in Xero.
Yes, relevant outstanding supplier bills can be included where required.
Relevant bank transaction history can be considered depending on your chosen migration approach and available source information. Bank positions should also be checked at the agreed conversion point.
Yes. Multiple businesses can be reviewed separately and migrated into the appropriate Xero organisations.
Multicurrency requirements can be reviewed during migration planning. The appropriate approach depends on the currencies, source records and required historical detail.
Not necessarily. We review the existing structure and determine how accounts should map into Xero. Carrying unnecessary or poorly structured accounts into a new accounting platform is not always the best approach.
Where data-quality issues are identified, we can discuss how they should be treated before migration. The aim is to avoid knowingly reproducing significant source-data problems in Xero.
There is no reliable one-size-fits-all timeframe. The duration depends on factors such as transaction volume, historical years, number of businesses, data quality, multicurrency requirements, fixed assets, required Xero configuration, migration complexity and validation requirements. We can provide an expected timeframe once the migration scope has been reviewed.
The cost of a Wave to Xero Migration depends on the amount of data, historical periods, transaction volume, number of entities and complexity of the migration. We therefore review your requirements before providing a quotation.
- Ready to Migrate Wave to Xero?
Get a Wave to Xero migration plan built around your business
Moving accounting software is an opportunity to review how your financial data is structured before you start working in a new system.
With our Wave to Xero Migration service, you can define what needs to move, establish the required historical depth, prepare your Xero organisation and validate important accounting positions before handover.
Tell us about your Wave setup, transaction volumes and required accounting history. We will review the requirements and provide a migration quotation based on the scope of work.