Copying Fixed Asset Data

Once all the prerequisites have been prepared in terms of:

1. Setting up the Chart of Accounts
2. Setting up the Trial Balance

Fixed assets can now be transferred from MYOB to Xero using the tool.

Note:

If you have not completed the prerequisites mentioned above, you go back and complete these first.
 

Here, select Fixed Assets.

Select the As of date for which the fixed asset data needs to be retrieved. Click Read FA from MYOB to load the current status of fixed asset accounts from the MYOB ledger.

 

Go to Xero and under the Accounting tab, select Fixed Assets

 

Select the start date and save  

Go back to Fixed Asset Accounting and Review the list of fixed assets and select the required items. If all assets need to be transferred, use the Select All option.

 

Thereafter select the Status whether that be Draft or Registered and click on Sync FA to Xero.

 

Once the data has been synced, select OK

 

Verify Fixed asset data has been copied successfully 

To verify that the Fixed asset data has been transferred successfully. Go to the Xero Fixed Asset page and refresh the page.

After refreshing the page, it will populate the page with the copied fixed asset data. 

If needed, you can select the fixed assets and add in any additional details.

Note: However, some parts, like assigning asset types or filling out registration details, must be done manually in Xero, as that process is outside the tool’s scope.  

Once the draft fixed assets are synced, they will appear in the Xero fixed assets section. 

Because of this automation: 

• Data is not lost during migration 

• Costs are saved, as manual work is reduced 

• Accuracy is improved, with fewer chances of human error 

• Time is saved, allowing teams to focus on higher-value work 

The tool is particularly useful for accounting and advisory firms who regularly manage migrations for multiple clients. By using it, multiple ledgers can be migrated per day, turning what was once a time-consuming, error-prone process into a fast and reliable one.