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October 12, 2022
Question

Selling My Company - QB porting to new owner?

  • October 12, 2022
  • 1 reply
  • 0 views

I'm selling my services company (PA S-Corp). How to I transfer the Quickbooks Online Essentials account/data to the new owner?

1 reply

October 12, 2022

Hi there, @userbill.

 

I'm here to help transfer your QuickBooks Online (QBO) data to the new owner.

 

If the new owner wants to transfer the existing QBO account, you can transfer the Master Admin to them. To do so, you'll have to add him/her as a new user if you haven't yet. Then, you can now transfer the primary admin role after they’re added. Here's how:

 

  1. Click the Gear icon, then select Manage users.
  2. Select Add user.
  3. Choose Company Admin, then select Next.
  4. Enter the new owner's email address and name. Then, select Save.
  5. An email will be sent to become a Company Administrator. They need to read the email, then use the activation link to set up their account. If they already have a QuickBooks Online user ID and password, they can use their existing credentials. If not, they can create a new user ID and password.

 

Once the new Company Administrator user has been invited and has set up their user ID and password, you must sign out and sign back in again as the Master Administrator to transfer the role.

 

I'm adding this article for more guidance: Change The Master Admin User In QuickBooks Online.

 

However, if they will be creating a different account, the new owner will need to start from scratch or import the lists (customers, vendors, products, and services) to the new one. The transactions will be recreated since we can't transfer transactions from one account to another. They can also use a third-party app that offers the moving of data between QBO accounts. 

 

Here's an article on how to import lists: Move Your Lists To QuickBooks Online.

 

Come back to this post if you need more information about this, @userbill. I want to make sure you're taken care of.

 

You may also want to share this article with the new owner: Get started with QuickBooks Online. This will help them know how to start QuickBooks.

 

Have a good one!