MMC Convert’s Guide for Easy QuickBooks to QuickBooks Online MMC Convert is your one-stop-solution for accessing the best accounting software. No matter what your preference is, we help you to convert data from any accounting platform to software of your choice. QuickBooks efficiently handles your accounting and helps to keep your books in order. But, the desktop version cannot be accessed from anywhere outside the office. In order to deal with such problems, many small businesses prefer to migrate to QuickBooks Online. QuickBooks online is cloud based and can be easily accessed anytime from any device of your choice. But, data can be imported to QuickBooks Online only within the first 60 days of your subscription. After this period, you need to get a new QuickBooks Online subscription and use a separate email address. How to Migrate QuickBooks Online? Before initiating the conversion from QuickBooks desktop to online, check whether QuickBooks is up to date. It is recommended to move the lists instead of the company file if payroll is already set up in QuickBooks Online. Owing to differences in features, some of the lists and reports may not be converted to QuickBooks Online in the first attempt. If you are currently using the desktop version, here’s how you can convert to QuickBooks Online. 1. Check Files: The company file should not be too big to export. Open QuickBooks Desktop file and press F2 to verify the total target count. It should not be more than 350,000. If it exceeds this number, there will be an option to import lists for vendors, customers, account balances, products and services only. 2. Prepare Data for Export: Before exporting the data, make any necessary changes. You can update data by making changes to vendor and customer information. Also, make sure that all bank accounts are reconciled, payrolls processed and the inventory is adjusted before migrating data to QuickBooks Online. Also create a back up of the existing data by clicking File > Back Up Company > Create Local Backup. 3. Create QuickBooks Online Account: If you currently do not have a QuickBooks online account, you need to create one with basic information like name, email address and mobile number. After creating the account log out of the system and log into QuickBooks Desktop account. 4. Exporting Data to QuickBooks Online: Go to the Company menu and select ‘Export company file to QuickBooks Online’. If you do not find this option, download the most recent version by clicking on ‘Update QuickBooks’. 5. Sign into QBO Account: Enter your email ID and password to log into your QBO account. If you want to transfer your Inventory, make sure to consult your accountant because there will be a significant change in the inventory method and this must be reflected on your tax return. 6. Select Company: Choose the name of your company from the drop down list and click on ‘Create new QuickBooks Online company’ and follow the instructions. The data will now be copied and transferred to QuickBooks Online.
At MMC Convert, our experts are trained to offer customized solutions and offer hasslefree accounting services. Our team helps to easily convert data to Xero, MYOB, QBO, Netsuite, Sage, Wave, Freshbooks, Exact, Reckon, Zoho Books, Clear Books or any other accounting software. To know more about our services get in touch with us at +91 9926477000.