If you answered "Yes" to converting your Quicken asset accounts
to QuickBooks A/R accounts, QuickBooks converted the transactions as
This item in your Quicken asset account...
...is converted to this in QuickBooks:
Each transaction that increases your A/R balance
An invoice to a customer
Each transaction that decreases your A/R balance and has only one split
A payment from a customer
Each transaction that decreases your A/R balance and has more than one split
A credit memo to a customer
A customer on your Customers & Jobs list
Both an item on your Item list and an income account on your Chart of
QuickBooks applies converted Quicken payments to a customer's oldest
outstanding invoice first.
The conversion saves you the time of typing in all your accounts receivable
transactions, but you'll probably want to make some changes to the
For example, if the category you used in most A/R transactions was
"Sales income," you'll want to change the name of the
converted invoice item from "Sales income" to the product or
service you actually sell, such as "Consulting hours." The
converted income account, however, may be just fine as "Sales
Note: You don't have to make changes now. QuickBooks makes it
easy to make changes at any time.