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beccasbeans
September 18, 2021
Question

Handing over Quickbooks to new business owner

  • September 18, 2021
  • 2 replies
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We have sold our business and would like to hand over our QB business file to the new owners.  However, obviously, we don't want our banking account information to be included.  Is it possible to do this?  OR what is the best way to share business info such as customers, vendors, etc. with the new owners?  I really just want to delete the bank accounts for their new business file but I don't want to delete them completely now as I will need them for end-of-year tax stuff.  Thanks for any insight into this!  Becky

2 replies

Fiat Lux - ASIA
Fiat Lux - ASIA
September 18, 2021

Create a backup file and restore it with a new file name for the new business owner. Then deactivate your bank feed connections.

https://quickbooks.intuit.com/learn-support/en-ca/bank-feeds/disconnect-bank-feeds-for-an-account-in-quickbooks-desktop/00/262437

 

Another option, export your data out to XLS and give the the files to the new owner.

https://transactionpro.grsm.io/qbd

 

 

N
Nick K
September 20, 2021

Hi beccasbeans.

 

Keeping your personal information private is something that QuickBooks Desktop excels at. I'd be happy to help you get your bank information removed before sending the company file to the new owners.

 

QuickBooks Desktop makes adding and removing a bank from one of your accounts easy to help you switch and save time. In order to remove your banks from an account I recommend following the steps in this article. Once the bank is removed from the accounts you can make a back up or portable file to send to the new business owners. You can create a backup of your company file by using these steps:
 

  1. In QuickBooks, go to the File menu and select Switch to Single-user Mode.
  2. Go to the File menu again and hover over Back up Company. Then select Create Local Backup.
  3. In the window, select Local Backup and then Next.
  4. In the Local Backup Only section, select Browse and select where you want to save your backup company file.
  5. Set the number of backups you want to keep. This is optional.
  6. This runs a test to make sure your backup file is in good shape before you save.
  7. When you're ready, select OK.
  8. Select Save it now and Next.

You can also create a portable file with these steps:

 

  1. Open QuickBooks and log in as an admin.
  2. Go to the File menu and select Create Copy.
  3. Select Portable company file and then Next.
  4. Give your portable company file a unique name. This makes it easy to tell apart from your regular company file.
  5. Select a location to save your portable company file. Pick somewhere that's easy to find, like your Windows desktop.
  6. When you're ready, select Save and then OK.

Sending the company file as one of these types will help protect it from being corrupted when you send it.

 

If you have any questions let us know and we'd be happy to help.

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