I did all the steps suggested by Quickbooks, though to warn everyone, it does not work for everything i.e. I had to redo all my invoices as it didn't seem to save the details of them through the tool suggested. Due to quaterly VAT reporting, I was forced to recreate them online. So this won't be a smooth transition, for anyone having to do the same.
One more query to Quickbooks
I'd like to close the old multi-currency account so that I won't pay double. However, I believe you suggested I can still access it. Does that mean I could still copy and paste detail, if I found I needed it (see above, the transfer from one to the other appears patchy and with data loss).?
Thanks for letting me know.
SSC
Hello there, SSC2021.
This isn’t the kind of experience I want for you. I’ll guide you in the right direction on how to transfer your multi-currency data to another QuickBooks Online account.
If you wish to close the old multi-currency account, you’ll have to cancel the subscription. This way, you’ll not be charged twice for it.
Also, we keep your data for a year. That’s why you can still access it. Check this article for more details: What happens to my QuickBooks Online data after I cancel?
After canceling the subscription, export the report for the multi-currency account and import it to the correct company. Let me show the steps on how to do this in QBO.
- Go to the Accounting menu on the left panel to choose Chart of Accounts.
- From the list, click the Account history drop-down for the account you’re working on and select Run Report.
- This will open a page that lists all transactions.
- Click the Export drop-down and choose Export to Excel.
To import:
- In your existing QBO account, click the Gear icon and select Import data.
- Tap the Chart of Accounts tile to open the Import accounts page.
- Look for the file you wish to bring into the company.
- Follow the on-screen instructions to complete the import process.
Aside from the process mentioned above, you can manually copy and paste the detail for your multi-currency.
For additional resources, I’m attaching a link that contains answers to frequently asked questions about importing data. Tap here to access the article.
You can browse through this guide to learn more about the following: Export data, reports, lists, and more from QuickBooks Online. It outlines the complete steps on how to export non-posting transactions and attachments.
Fill me in if you have additional questions about multi-currency and other QuickBooks-related concerns. I’m always ready to answer them for you. Have a good one.
