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R
Research203
February 5, 2024
Question

How to set up the books after a company asset sale?

  • February 5, 2024
  • 1 reply
  • 0 views

Hello,

I work at a small company and use QuickBooks Desktop for our bookkeeping. Our owner has sold the company as an asset sale - I am unsure on how to set up the new books. Everything is staying the same (employees & customers), and we would like to keep all of the history that is in QuickBooks. How do I close the last company and start a new company's books while keeping all information? 

1 reply

4
4Gal
February 5, 2024

You can only need to create the backup file and restore it with a new name.

S
ShyMae
February 5, 2024

Hello there, Research203. I see that you want to close the books of the last company and start afresh while retaining all the information.

 

You'll need to back up your QuickBooks Desktop company file before closing your books. You can create a new company file and restore the data as suggested by 4Gal. Once done, you can import all the relevant information into the new company file.

 

To close books:

 

  1. Hover to Edit and select Preferences. 
  2. Click Accounting, then select Company Preferences. 
  3. In the Closing Date section, tap the Set Date/Password. 
  4. Complete all necessary information. 

 

For more information, visit this article: Close your books in QuickBooks Desktop. 

 

On the other hand, you can visit our Help pages. Some articles provide detailed instructions and guidelines that can assist you in managing QuickBooks Desktop more efficiently. 

 

You can return here whenever you need assistance or information regarding closing of books and backing up of data. I'm always here to support you.

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