Data Conversion Pricing

Trust intheBlk consulting with your data migration to NetSuite, and keep your financial history, get your time back, and secure your peace of mind.

Detailed Transaction Approach

Recreate your legacy system's general ledger detail at the transaction level.

Under this approach:

  • All posting transactions are migrated (vendor bills, payments, and credits; customer invoices, payments, and credits; journal entries) as they are in the legacy system.
  • This approach is validated with QuickBooks Online and QuickBooks Desktop, with organizations not tracking physical inventory.

Pricing Structure:

  • A base technology fee + incremental technology fee, based on the number of months of detailed transactions imported
  • Hourly rate
  • Typical cost is $10,000 - $15,000+
Read the detailed transaction case study of Akouos, Inc. moving off QuickBooks Online

Net Change Entry & Sales History Approach

Sales history is imported via closed sales orders or as a cash sale transaction. Monthly financial statements are imported as a monthly net change journal entry.

Under this approach:

  • All sales transactions are loaded as closed sales orders, which do not have a GL posting impact
  • Monthly financial statements are loaded as a journal entry with GL account, department, class, and/or name segments tagged
  • All open transactions are loaded as of the go-live date

Pricing Structure:

  • A base technology fee + incremental technology fee, based on the number of months of detailed transactions imported
  • Hourly rate
  • Typical cost is $7,000 - $10,000

Read the blog post about the different approaches to importing sales transactions.


Net Change Entry Approach

Monthly financial statements are imported as a monthly net change journal entry.

Under this approach:

  • Monthly financial statements are loaded as a journal entry with GL account, department, class, and/or name segments tagged.
  • All open transactions are loaded as of the go-live date

Pricing Structure:

  • A base technology fee
  • Hourly rate
  • Typical cost is $4,000 - $7,000

Read the net change entry case study of Oncorus, Inc. moving off QuickBooks Online.


Other Considerations

All approaches include:

  • Audit package, including a blueprint memo, trial balance tieouts, subledger tieouts, and segment mapping file.
  • Segment mapping file, linking the legacy segment values to the new NetSuite values.
  • Best practices and expertise on data migration.

Regarding the cost:

Every project is unique. We price each engagement as best we can. Factors that add to the cost are:

  1. Multiple operating subsidiaries, including intercompany transactions
  2. Planned integrations with other 3rd party systems
  3. Joining an implementation within one month of the go-live date

Pricing is subject to change and is assessed in a case-by-case scenario. Contact us to find out more.

FAQ

Common Questions

 

Why is there a technology fee?

The technology fee is for the tool that converts the legacy data to NetSuite's CSV import templates. The average person would take 10-15 hours to complete the net change approach template and 40+ hours to complete the full history approach. The cost of our fee quickly pays for itself in saved hours. 

 

Why is there an hourly rate?

The hourly rate gives teams budget flexibility when planning to use intheBlk consulting. If organizations are budget conscious, the majority of the mappings and exporting data can be completed by you to save money. If teams need additional resources, intheBlk consulting can complete the tasks on your behalf.

 

What if we can't import my data?

Generally, if data is tracked in your legacy system, it can be imported into NetSuite. The most significant risk of the detailed transaction approach is being unable to run a report linking vendor payments to vendor bills and customer payments to customer invoices from your legacy accounting system. The net change approach will work with any system that can export a transaction listing to Excel. If your legacy accounting system is QuickBooks Online or QuickBooks Desktop, both methods will work for you!

 

Can I change my approach later on?

Absolutely. You can change at any time before starting the historical financial data conversion process, which is typically midway through the implementation timeline.