For many business owners, switching accounting software feels like a bigger deal than it is. What happens to existing data? Can you switch mid-year? Will everything get confused?
The short answer: no. The process is more straightforward than it looks — once you know what to expect.
When does switching make sense?
The software is working against you
If you spend more time fighting the tool than actually doing your bookkeeping, that's a signal. Good accounting software doesn't require a finance background. It guides you, suggests categories, and handles routine tasks automatically.
The price doesn't match the value
Legacy software often charges for features you don't use. If you're paying monthly for a tool that still requires hours of manual work, it's worth calculating what that time actually costs.
Your business has changed
Going from sole trader to limited company, adding e-commerce, hiring your first employee — these changes sometimes mean your old software no longer fits what you actually need.
There's no bank integration
Manually downloading bank statements is slow and error-prone. Modern accounting software connects to your bank automatically and pulls transactions in real time.
When to switch — start of the financial year or mid-year?
The standard advice is to switch at the start of a new financial year, on 1 January. You start fresh and don't need to migrate the current year's entries.
Switching mid-year is also completely possible. You bring over the opening balances as of the switch date and continue from there. Data from before the switch stays in your old software as an archive.
In practice, many business owners wait for year-end. But if your current software is causing ongoing problems, switching mid-year is better than waiting six months.
What the process actually looks like
1. Get your books up to date
Before switching, make sure your current software is current. All receipts entered, invoices matched, bank statements reconciled.
2. Export key reports
Download your profit and loss statement, balance sheet, and general ledger from the old software. These serve as your reference point and backup.
3. Enter opening balances
In the new software, you enter the opening balances — either from the start of the financial year or from the switch date if you're moving mid-year. This is usually simpler than it sounds.
4. Connect your bank and start
Once the bank connection is live, transactions flow in automatically. The first entries happen almost on their own.
What happens to old data?
It stays in your old software. You typically retain access for a period after cancelling, which matters because bookkeeping records must be kept for six years in Finland. Make sure your archive is accessible in some form.
Some software allows you to import historical data into the new system, but for most small businesses this is unnecessary extra work. Having the records available is what matters.
NoCFO makes switching straightforward
NoCFO includes a starting meeting with every paid plan. We go through your situation, transfer your data for free — including mid-year switches — and make sure everything is set up correctly before you continue.
Bank connection takes a few minutes. Over 2,500 European banks are supported at no extra cost.
Try it free at nocfo.io.
Frequently asked questions
Can you switch accounting software mid-year?Yes. You bring over the opening balances as of the switch date and continue from there in the new software. Data from before the switch stays in your old system.
What happens to existing bookkeeping data?It stays in your old software. Finnish law requires bookkeeping records to be kept for six years, so make sure your archive remains accessible.
How long does switching take?Usually a few hours of active work. NoCFO's starting meeting and data transfer are handled in a single session.
Do I need accounting knowledge to switch?No. NoCFO guides you through the process, and the AI handles entry suggestions automatically from day one.