A WebmasterWorld thread has complaints from a few advertisers that the Google Analytics conversion data is not importing properly into the Google AdWords screen. This has been happening since about January 6th.

Google is aware of the issue but it is an issue that advertisers need to take notice of.

Since Google is not properly importing the data, and since Google may use that data for rank and ad pricing, it can have a negative impact on your campaigns costs structure and ranking.

eWhisper from WebmasterWorld explained in greater detail:

A Google AdWords representative supposedly told his customer the same thing.

So be warned and take action.

Forum discussion at WebmasterWorld.

Update: A Google spokesperson sent us a comment:

Update 2: On January 23rd, Google informed me a fix began rolling out.