How Do I Migrate to QuickBooks Online? Increased access, improved security and availability of amazing third-party apps – each of these benefits ensure that your decision to migrate to QuickBooks Online is a well-thought one. Now that you are ready, you can try this migration from QuickBooks Desktop by yourself. It is a simple process with few considerations and some preparations. Let’s start with it. What to Know Beforehand? ● Migrating from QB Desktop Enterprise to QBO is a little different from QB Desktop Pro/Premier to QBO. ● You must migrate within 60 days of your subscription with QBO or you will have to renew the subscription. ● Make sure that the total target count is less than 350,000. If it is greater than 350,000, you may need to condense the Desktop file. ● Items that can’t be migrated to QuickBooks Online include reconciliation reports (of bank or credit card accounts), audit trail, reports and recurring credit card charges. ● During the process, you will be asked whether to migrate inventory or not. If you select ‘Yes’, the FIFO method would be used to recalculate the value of each inventory item. If you are not sure, consult an expert and choose ‘No’ for the time being. Step-by-Step Process (for Desktop Pro/Premier) Start by opening a QuickBooks Online account. For this, you will need to provide important personal details and also the details about your company/business. Next, follow these steps: 1. Prepare the Data: Update the data and complete all pending tasks before starting migration so that you can immediately resume working with the file in QBO. Creating a file backup and printing a Sales Tax Liability report are the recommended steps. 2. Export from QB Desktop: Login to your Desktop account. Click on ‘Company’ menu and select ‘Export Company File to QuickBooks Online’. Click on ‘Start to Export’. 3. Import to QBO: Log in to your QBO account as admin. The first thing you would be asked is whether you want to bring over inventory or not if you have been managing inventory in QB Desktop. Decide as discussed in the previous section. Next, select the QuickBooks Online company that you want to be replaced and click ‘Continue’. Enter ‘Agree’ and click Replace’. Next, choose ‘Yes, go ahead and replace the data’ and click ‘Replace’. Step-by-Step Process (for Desktop Enterprise) Before you start, it is important to know that some data of your company file may fail to convert if you have been using Advanced features of Desktop
Enterprise. The migration steps include: 1. Log in to your QuickBooks Desktop Enterprise account. 2. Press Ctrl+1 to open ‘Product Information’. 3. Press Ctrl+B+Q and click ‘Start your Export’. That’s it! The remaining process will be the same as described in the previous section. The First Step in QBO It is recommended to confirm that the data was imported without any loss or alteration. For this, run a Profit & Loss Statement in QB Desktop and QBO and draw a comparison. If everything tallies, you are good to go. If you face issues or errors in the first attempt to migrate to QuickBooks Online, it is better to use the data conversion and accounting software migration services from MMC Convert. We offer easy, fast and hassle-free migration from QuickBooks to QBO as well as to and from other popular accounting software tools like Xero and Reckon.