QBO Download to QBD Does Not Equal One Another

Let's go over the Profit and Loss reports in both programs and compare them to correct the balances, FLBill. I'm here to help ensure you can complete these tasks on time.

In addition to SIAB's answer, when you transfer your online data to a desktop program, some information may not transfer over completely. Thus, causing your books to appear differently in the desktop program.

Refer to this article to find out which data is exported from QuickBooks Online (QBO) and which isn't: Learn how features and data move from QuickBooks Online to QuickBooks Desktop.

Next, run the Profit and Loss report on the accrual basis in QBO and QuickBooks Desktop (QBDT). Let me show you guide you through the steps.

In QBDT:

1. Head to the Reports menu at the top bar in your company file and select Company& Financial and Profit and Loss Standard.
2. Choose the reporting period from the Dates drop-down.
3. In the Report Basis section, tick the Accrual radio button.
4. Tap the Customize Report button if you wish to refine the information in your financial statement.
5. Click the OK button to save the customization.
6. Tap the Refresh to apply the changes.
   
   

In QBO:

1. Navigate to the Reports menu on the left panel to the Reports Center.
2. In the Standard tab, go to the Business overview section and select Profit and Loss.
3. On the Profit and Loss Report screen, click the Report period drop-down and choose the date range from the list.
4. In the Accounting method section, tick the Accrual radio button.
5. Tap the Customize button if you wish to tailor the data.
6. Press the Run report button for the changes to take effect.
   
   

Now, let's compare the information in each financial statement. If they don't match, import your file again to fix the issue. For detailed instructions, head to Step 3 in this article: Move data from QuickBooks Online to QuickBooks Desktop.

Otherwise, create a manual adjustment for QBO and QBDT. In case you'd like to bring your accounts, customers, vendors, and opening balances to the desktop program, take a look at this link: Move lists and balances from QuickBooks Online to QuickBooks Desktop.

Explore each link below to stay informed about your business, expenses, income, and ways to update your reporting method:

• Understand reports
• Differentiate Cash and Accrual basis
• Choose between cash and accrual accounting methods in QuickBooks Online
  
  

Feel free to leave a comment below if you have additional questions about the conversion process or need further assistance navigating the desktop program. The Community team always has your back. Keep safe.