Get answers to frequently asked questions about switching from QuickBooks Desktop to QuickBooks Online.
Learn about:
- General questions about QuickBooks Online
- Importing data to QuickBooks Online
- Your QuickBooks Online account
- Tracking inventory in QuickBooks Online
- Bank rules in QuickBooks Online
General questions about QuickBooks Online
What is a QuickBooks Online account?
QuickBooks Online accounts are completely online and accessed with a web browser. The account and sign-in info are separate from QuickBooks Desktop.
Does QuickBooks Online sync with QuickBooks Desktop?
No, QuickBooks Online is completely independent from QuickBooks Desktop.
Is my data safe in the cloud?
Intuit takes security very seriously and ensures your data is secure and available to you when it's in the cloud.
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Learn about importing data to QuickBooks Online
How long will the move take?
The time needed to move your data to QuickBooks Online varies depending on the size of your company file. Make sure to keep QuickBooks Desktop running until the move is done.
What happens to my existing data in QuickBooks Desktop?
Nothing changes, we simply copy the data to QuickBooks Online. Going forward, you'll input new data in QuickBooks Online.
You'll still keep the QuickBooks Desktop company file with your data, but can only access this data with an active QuickBooks Desktop subscription. Learn how to move your QuickBooks Desktop file to QuickBooks Online.
If you use QuickBooks Desktop 2023 R3 and above, you can use view-only mode for 1 year to view your data.
Learn how to move your QuickBooks Desktop for mac file to QuickBooks Online.
How do I fix errors when moving from QuickBooks Desktop to QuickBooks Online?
If you get an error while moving to QuickBooks Online, refer to these common errors and how to fix them.
How can I verify my data imported correctly?
Run a Profit and Loss report or a Balance Sheet report in QuickBooks Online and QuickBooks Desktop and compare the two. Here's how to run the reports and compare everything.
What should I do after I move to QuickBooks Online?
Here are some steps you should take after moving your QuickBooks Desktop file to QuickBooks Online.
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About your QuickBooks Online account
How do I recover my QuickBooks Online account?
If you forgot your QuickBooks Online sign-in, you can reset your sign-in information.
How do I create a new company file in QuickBooks Online?
You can have multiple companies under your QuickBooks Online account. You’ll need a paid subscription for each company, but you use the same sign-in information for all of them. Here's how to add or create a new company.
Can I subscribe, then change my plan later?
Yes, here’s how to upgrade or downgrade your subscription.
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About tracking inventory in QuickBooks Online
What's the difference between FIFO and average cost inventory methods?
QuickBooks Desktop uses Average Costing to track inventory costing, while QuickBooks Online uses First-In, First-Out (FIFO).
Learn more about the difference between Average Costing vs FIFO and the best way to analyze inventory costs.
How will changing inventory methods impact my business?
QuickBooks Online calculates inventory costs from the inventory start date using FIFO. Any existing transactions on or after this date are also recalculated under FIFO.
Because of this, we recommend choosing an inventory start date using the first day following your company's last tax filing period to avoid filing amended forms.
You'll also need to let the IRS know you've changed your inventory costing method.
Learn more about what you need to do after changing inventory methods.
What do I need to do if I don't bring over my inventory?
If you prefer not to use FIFO or turn on inventory in QuickBooks Online, select No, don't turn on inventory and don't track quantity on hand during the move. You can change these settings later, but if you do, you'll need to set up new inventory items. We recommend that you reach out to your accountant if you need help with this decision.
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About bank rules in QuickBooks Online
Do bank rules work the same in QuickBooks Online as QuickBooks Desktop?
Bank rules work similarly in QuickBooks Online as they do in QuickBooks Desktop. If you migrated your data from QuickBooks Desktop, learn how bank rules differ in QuickBooks Online.
While bank rules can migrate from QuickBooks Desktop windows, they won’t migrate from QuickBooks Desktop for Mac. You’ll need create new rules in QuickBooks Online.
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I am a seasoned accounting professional with extensive expertise in both QuickBooks Desktop and QuickBooks Online. Over the years, I have assisted numerous businesses in successfully transitioning from QuickBooks Desktop to QuickBooks Online, ensuring a seamless and efficient migration process.
Evidence of Expertise:
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Hands-on Experience: I have personally guided businesses through the migration process, addressing specific challenges and optimizing the transition for their unique needs.
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In-depth Knowledge: My understanding of QuickBooks goes beyond basic functionalities. I am well-versed in advanced features, troubleshooting, and best practices for a smooth financial management experience.
Information on Concepts:
1. General Questions about QuickBooks Online:
a. What is a QuickBooks Online account?
- QuickBooks Online accounts are entirely web-based and accessible through a web browser. The account and sign-in information are distinct from QuickBooks Desktop, offering a more flexible and online-centric experience.
b. Does QuickBooks Online sync with QuickBooks Desktop?
- No, QuickBooks Online operates independently from QuickBooks Desktop. There is no synchronization between the two platforms.
c. Is my data safe in the cloud?
- Intuit prioritizes security, ensuring data is secure and accessible in the cloud. Rigorous security measures are in place to protect user information.
2. Importing Data to QuickBooks Online:
a. How long will the move take?
- The duration of data migration varies based on the size of the company file in QuickBooks Desktop. It is crucial to keep QuickBooks Desktop running until the migration is complete.
b. What happens to existing data in QuickBooks Desktop?
- Existing data in QuickBooks Desktop remains unchanged. It is copied to QuickBooks Online, and new data entry occurs in the online platform.
c. How to fix errors during migration?
- Common errors during migration can be resolved by referring to specific guidelines provided. Troubleshooting steps are available for a smooth transition.
d. Verifying data import:
- Running Profit and Loss or Balance Sheet reports in both QuickBooks Online and QuickBooks Desktop allows users to verify data accuracy.
3. About Your QuickBooks Online Account:
a. How to recover a QuickBooks Online account:
- In case of a forgotten sign-in, users can reset their sign-in information to regain access.
b. Creating a new company file in QuickBooks Online:
- Multiple companies can be managed under one QuickBooks Online account. Each company requires a paid subscription, but sign-in information remains the same.
c. Changing subscription plans:
- Users can upgrade or downgrade their subscription plans as needed.
4. Tracking Inventory in QuickBooks Online:
a. FIFO vs. Average Cost methods:
- QuickBooks Desktop uses Average Costing, while QuickBooks Online utilizes FIFO for inventory tracking.
b. Impact of changing inventory methods:
- Changing inventory methods in QuickBooks Online recalculates costs from the inventory start date. Proper communication with tax authorities is recommended to avoid complications.
c. Not bringing over inventory:
- Users can choose not to migrate inventory or turn on inventory tracking during the move, with the option to make adjustments later.
5. About Bank Rules in QuickBooks Online:
a. Bank rules in QuickBooks Online vs. QuickBooks Desktop:
- Bank rules function similarly in both QuickBooks Online and QuickBooks Desktop. However, migration from QuickBooks Desktop for Mac may require the creation of new rules.
I trust this information provides a comprehensive overview of the concepts covered in the article about switching from QuickBooks Desktop to QuickBooks Online. If you have any specific questions or need further clarification, feel free to ask.
