Using Qbyte Exchange for Acquisitions

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1 Introduction

Introduction

Traditionally when one company acquires properties from another company, either a manual project is required to data enter the new files or you can engage P2 to do an electronic conversion. Both of these options are still available to you, however, Qbyte Exchange provides you with another choice.

Consider Your Data Source

Receive data from another Qbyte CS Land customer who has Qbyte Exchange – The Seller can extract their data already in the spreadsheet template; this will save you time to copy/format the data into the correct template.
Receive data in an Excel spreadsheet that is not the Qbyte Exchange template – You will need to copy/format the data into the Qbyte Exchange template format. Watch for date formats.
Abstracts whether hardcopy or PDF will need to be manually inputted into the Qbyte Exchange template. Depending on the number of files you will be adding, this may or may not be quicker than manually adding in Qbyte CS Land.

Business Associates and Codes Need to be Cross-Referenced

Regardless of the method chosen (manual, electronic, or Qbyte Exchange) for inserting the acquired files into your database, the data will need to be cross-referenced.
Whomever you are receiving data from has their own codes for Business Associates and code tables, things like Lease Types, Area Codes, etc. All codes will need to be updated to codes you have set up in your Qbyte CS Land environment. You may need to set up new codes for any Business Associates or code tables you do not already have.
Qbyte Exchange will not insert new files into Qbyte CS Land with invalid codes. Validation messages will be provided.

Format of the Excel Worksheets

Specific Excel templates are used by Qbyte Exchange. The format of each cell cannot be changed, as changing it could result in a validation error. Be especially careful when you use copy/paste from one spreadsheet to another, for example, Date fields.

In each Module, the Worksheets are Processed Independently

In any module, all of the available worksheets can be populated with the data that you want to upload, but each worksheet is processed one at a time. The Validate and Save functions are only applicable to the worksheet that is currently open.
Base Worksheet First - When inserting/adding new files into your environments, always Save the Base tab first. The Base data must exist before other data/worksheets can be added.
- File #’s – Depending on your company setup, either enter the File Numbers on the Base worksheet that you want to be added or leave the File # blank if your company auto-assigns the next File Number. For auto-assign, when the Base tab is Saved, the File Numbers will be automatically populated on the Base worksheet. This File # is then used to update subsequent tabs as required.
After the data on the Base worksheet has been saved, then move on to validate/save the data on the other tabs.

Some Manual Updates may Still be Required

Not all the tabs found in the Qbyte CS Land application are currently available in Qbyte Exchange, which means some data will be missing that is required to form a complete file after inserting via Qbyte Exchange. Some files may not appear correctly when searching in Qbyte CS Land until all required information has been added or when you access a newly inserted file in Update mode you may be prompted to enter the missing data before you can exit the file.
The tabs currently available are listed on the Qbyte Exchange overview page.

Data Verification

Allowing time for Data verification should always be a consideration regardless of the method you choose.