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You should backup your books once you have set them up so that all of your work is not lost if an unexpected problem or mistake occurs.
It is always easiest to convert at the start of a financial year however it is possible to convert at any time. The further you are through a financial year the more time it will take as there will be more transactions that need to be entered to bring Bookkeeping in line with your businesses current financial position.
You should not start entering any new transactions until you are sure that Bookkeeping matches your old bookkeeping software or paper based solution.