Are you interested in switching QuickBooks Desktop to Online but are confused about how to proceed? Don’t worry; this article will walk you through the process of exporting a QuickBooks Desktop Company file and importing it into QuickBooks Online. There’s no need to start from scratch; you can simply convert the desktop file to a QuickBooks Online corporation. Continue reading to find out how to go from QuickBooks Desktop to QuickBooks Online.
Why Switch to QuickBooks Online?
Before you begin, make sure that your decision is firm. QuickBooks Online and QuickBooks Desktop are both excellent tools, but there are several factors to consider before deciding if your firm is a suitable candidate for transfer. The success of the transfer procedure is heavily dependent on the intricacy of the corporate file. This file contains all of the company’s information, such as inventory, personnel information, customer lists, banking histories, accounting records, and so on.
Big corporate files are frequently complicated, with long histories, big inventory, and high total file sizes. If you use QuickBooks Enterprise, this may indicate that your company file is not a good candidate for transfer owing to its complexity. This generally does not preclude you from moving to QuickBooks Online if you realize that your organization’s expansion may need extra QuickBooks Online setup.
Converting from QuickBooks Desktop to QuickBooks Online
To relocate the QuickBooks Desktop business file and import it into QuickBooks Online, follow the procedures below:
Step 1: Prepare Your Desktop File
The first stage in the QuickBooks Desktop to Online migration procedure is to prepare your Desktop file. Ensure that you are within 60 days of signing up for QuickBooks Online, as this is the time frame for moving a company file. Also, be aware that due to feature differences, some of your Lists and reports will not be converted. If your company file is already set up for payroll in QuickBooks Online, this step is essential.
Step 2: Upload a File from Your Desktop to QuickBooks Online
- QuickBooks Desktop Pro or Premier
- Sign in as an admin to the company file you want to import.
- Go to the Company menu and select “Export company file to QuickBooks Online.”
- Choose the “Start your Export” option.
- Sign in as an admin to QuickBooks Online company.
- If you track inventory in QuickBooks Desktop, choose YES to bring them over and specify the as-of-date. Otherwise, select NO to set up new items later in QuickBooks Online.
- Select the QuickBooks Online company you wish to be replaced by the company file from the “Choose Online company” drop-down.
- Click the Continue button, agree to the terms, and then proceed with the Replace option.
QuickBooks Desktop Professional
- Sign in as an administrator to the company file you want to import.
- Press Ctrl + 1 to launch the Product information window.
- Press Ctrl + B+ Q and select OK to open the Export window.
- Click the “Get Started” button.
- Log in as an administrator to your QuickBooks Online company.
- If you track inventories with QuickBooks Desktop, select YES to bring them over and specify the as-of-date. If not, choose NO.
- Select the QuickBooks Online company that you want to be replaced by the business file from the “Online company” option.
- Click the Continue button, agree to the terms, and then proceed with the Replace option.
Step 3: Double-Check That the Books Match
After the file is imported, you should use financial reports like Profit and Loss on an accrual basis to ensure that the import was successful. Compare the reports from QuickBooks Desktop and QuickBooks Online to make sure they match. If there are any discrepancies, you can refer back to the instructions or contact QuickBooks support for assistance.
How to Verify Your Data After Migration?
Once you have successfully migrated your QuickBooks Desktop file to QuickBooks Online, it is essential to verify that all the data has transferred correctly. To do this, follow these steps:
- Review Financial Reports: Run financial reports, such as Profit and Loss and Balance Sheet, in both QuickBooks Desktop and QuickBooks Online. Compare the reports side by side to ensure that the data matches accurately. Look for any discrepancies and address them promptly.
- Check Lists and Transactions: Review the lists of customers, vendors, employees, and items in QuickBooks Online to ensure that all the data from your QuickBooks Desktop file is present. Also, go through recent transactions to verify their accuracy.
- Reconcile Bank Accounts: Reconcile your bank accounts in QuickBooks Online to make sure that the ending balances match the ones from your QuickBooks Desktop records.
- Verify Payroll Data: If you have payroll set up in QuickBooks, double-check the employee information, pay rates, and tax settings to ensure they are correct.
- Run Test Transactions: Perform a few test transactions in QuickBooks Online to see if everything is functioning as expected. This can help identify any potential issues before you start using the software for day-to-day operations.
Conclusion
That’s all you need to know to make the switch from QuickBooks Desktop to QuickBooks Online. We are a technological powerhouse that works around the clock to provide the best QuickBooks Desktop support services imaginable. So, please do not hesitate to contact us at any time if you need assistance! Our accounting specialists are always available to answer any questions or concerns you may have. Learn More
FAQs
Can I transfer a complex company file from QuickBooks Desktop to QuickBooks Online?
Yes, you can transfer a complex company file, but the success of the transfer depends on the file’s intricacy.
Is there a time limit for moving a company file to QuickBooks Online?
Yes, you can only move a company file within 60 days of signing up for QuickBooks Online.
What happens to my data if I switch from QuickBooks Desktop to QuickBooks Online?
Most of your data should transfer successfully, but there might be some differences due to feature variations.
Can I track inventory in QuickBooks Online if I did it in QuickBooks Desktop?
Yes, you can track inventory in QuickBooks Online if you were doing it in QuickBooks Desktop.
Do I need to set up payroll again in QuickBooks Online after migration?
No, if your company file is already set up for payroll in QuickBooks Online, you don’t need to set it up again.
