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karver35
October 21, 2023
Question

Save Company and Start Fresh

  • October 21, 2023
  • 2 replies
  • 0 views

When 2024 comes around I'd like to save my company data so I can reference it in the future, but completely start fresh for the new year. A lot of my accounts don't reconcile properly and other items I just don't like and now have learned to do better over the course of my first two years in business. I know my overall profit and loss is right, but like I said a lot of the numbers for accounts reconcile are off and I don't know how to get them fixed.

    2 replies

    Fiat Lux - ASIA
    Fiat Lux - ASIA
    October 21, 2023

    I would recommend to convert your data to a QB Desktop file format before cancelling the account and use the trial version to access your historical data for good. You should signup for a new QBO account instead.

    S
    sarpuckett72
    December 18, 2023

    How do you convert an online QB account to a QB desktop file format?

     

    S
    Shania_C
    December 18, 2023

    Hi there, @sarpuckett72

     

    You are in the right place for assistance, @sarpuckett72, in converting your QuickBooks Online account to a QuickBooks Desktop file format.

     

    Here's how:

     

    Step 1: Download QuickBooks Desktop

     

    1. If you haven't already, download and install QuickBooks Desktop on your computer.
    2. Open QuickBooks Desktop.
    3. Go to File and select Close Company. Leave QuickBooks Desktop open while you complete the rest of the steps.

     

    Note: You can only move data from QuickBooks Desktop for Windows. Once you move it to Windows, you can convert it to QuickBooks for Mac.

     

    Step 2: Sign in to QuickBooks Online and download the migration tool

     

    Step 3: Prepare the file for export and select your data in QuickBooks Online for export

     

    Step 4: Run the QuickBooks Desktop migration tool

     

    For more info on the migration tool, check out our QuickBooks Desktop Migration Tool FAQs

     

    Step 5: Verify your info exported correctly

     

    Note: When comparing reports, run them on an Accrual basis for them to match.

     

    Step 6: (Optional) Cancel QuickBooks Online

    If you no longer need QuickBooks Online, find out how to cancel your plan.

     

    For more detailed instructions, please refer to this article to help guide you toward the correct action:

    Move your QuickBooks Online data to QuickBooks Desktop

     

    Furthermore, I will be sharing articles with you to help you transfer your customers, vendors, products, services, and accounts, as well as to move your books from QuickBooks Online to QuickBooks Desktop:

     

     

    If you have more questions and concerns please add a reply. The Community is always here to help. Keep Safe!

    D
    DebSheenD
    October 21, 2023

    Hello there, @karver35.

     

    I'm here to share some information about saving your company file and starting a new fresh account in QuickBooks Online (QBO).

     

    To start fresh in the new year while still preserving your existing data, you can create a backup of your current company file in QBO. This way, you'll have a copy of your data from 2023 that you can access if needed.


    To create a backup in QBO, follow these steps:
     

    1. Log in to your QBO account.
    2. Go to the Gear icon menu and select "Backup Company."
       
       
    3. Click on the "Create Backup" button.
    4. Wait for the backup process to complete. This may take some time depending on the size of your data.
    5. Once the backup is created, you can download it to your computer or store it securely in the cloud.


    By creating a backup, you'll have a snapshot of your company data as of the end of 2023. This will allow you to reference it in the future if needed.
     

    Regarding the issues with account reconciliation, it's important to ensure that your accounts are set up correctly and that transactions are properly categorized. You can check this article to manage transactions: Categorize and match online bank transactions in QuickBooks Online.

     

    I'm adding this reference to ensure your accounts in QuickBooks match your bank and credit card statements: Reconcile an account in QuickBooks Online.

    I'm always here if you need any more help managing your transactions in QuickBooks. I look forward to being able to help you again in the future. Have a great day!

    T
    tastuto36
    December 30, 2023

    After backing up the data, how would you start a new account for 2024?

    JaeAnnC
    JaeAnnC
    December 30, 2023

    I appreciate you joining in on this conversation, @tastuto36. Allow me to share further information on how to start a fresh account in QuickBooks Online (QBO).

     

    The process of starting fresh with a new QBO company depends on how long you have been using the program. If your books are older than 60 days, you will need to cancel your current QBO company and create a new one. Here are the steps to follow:

     

    1. Sign up for QBO.
    2. Enter your user ID and password. You may utilize the same login credentials as before.
    3. (Optional) If your previous company had payroll, make sure to add Payroll in Step 2 of the sign-up process.

     

    However, you can purge your data and start over if you're a new user and your books are less than 60 days old. I'll share this article for the detailed procedure: Delete your data and start over in QuickBooks Online. 

     

    Moreover, you can seamlessly import your lists into your new QBO account to avoid manually entering them into the program.

     

    Keep in touch if you have any follow-up concerns about starting a fresh QBO account. I'll be here to assist you anytime. Stay safe, and have a great day ahead.

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