This blog will emphasize how to convert QuickBooks Desktop to QuickBooks Online. QuickBooks offers a range of features, and the conversion facility is one of them. Depending on the importance, users can do the conversion. Please follow the entire blog.
QuickBooks in a Glimpse
QuickBooks is an accounting giant where users can do their tasks of taxation, inventory, payroll, banking, etc. It offers various versions such as Desktop, Online, Pro, Premier, and Enterprise, and conversions among them are possible. Here we will concentrate on the Desktop and Online versions.
What happens when you switch from QuickBooks Desktop to QuickBooks Online?
The process of switching from or to convert QuickBooks Desktop to QuickBooks Online can be different and contingent on the size of the files.
QuickBooks Desktop’s previous data will not be affected. Your data will be copied only to QB Online. You can get to it from where you left off. However, unless you have an active subscription, you will not be able to access the data in QuickBooks Desktop.
What to do after converting to QuickBooks Online?
Post to conversion into QuickBooks Online, you will have to do the following things:
- Compare your financial reports
- Review your accounts’ detail types
- Complete your Payroll setup
- Link your existing Payments account
- Get to know FIFO (if you imported inventory)
What are the disadvantages of QuickBooks Online?
The following are the disadvantages of QuickBooks Online:
- Lacks tools for making invoices.
- Since data is not always backed up, you run the risk of losing data.
- Built with a “small business mindset”.
- restrictions on how many people can use it.
- Problems with file size and transaction limits.
- Insufficient professional assistance.
- Stability and system failure.
- Key reports outside of accounting are lacking.
How do I export transactions from QuickBooks Desktop to Online?
Not all data will convert, but to export transactions from QuickBooks Desktop to Online, follow these methods:
- Head to the Gear icon.
- Under Tools, select Export Data.
- On the Reports tab, set the date range to year-to-date.
- Add items from the Reports/Lists tabs by toggling the slider.
- Press Export to Excel.
What does not convert QuickBooks Desktop to Online?
For some data, users need to use third-party apps or must put the data manually. Some data that doesn’t convert from QuickBooks Desktop to Online are-
- The Online version of your QuickBooks Desktop file does not convert attachments saved there.
- The review trail of recently entered exchanges doesn’t change over from Desktop to Online.
- Only the Profit and Loss budget type can be converted to QuickBooks Online, and budgets are only available in the QuickBooks Online Plus version.
- Custom fields on customers, suppliers, employees, and items do not currently support conversion in QuickBooks Online.
- However, not all customer and job information are converted.
- Attachments to any and all documents in the Company Menu do not transfer.
- The First-in, First-out (FIFO) method is only available in QuickBooks Online Plus for inventory.
- The billable status of a journal entry is the only piece of information that is not converted. In QuickBooks Online, journal entries cannot be billable.
- Sales from templates or layout customizations are not converted.
- At this time, online transactions with three different currencies are not supported.
- The transactions’ underlying details, such as the breakdown of payroll items and employee year-to-date numbers, do not convert.
- QuickBooks Online does not import pending Desktop data file transactions.
- In QuickBooks Online, printing mailing labels is not an option, so they do not convert.
Why is QuickBooks Online so different from Desktop?
QuickBooks Online differs from the Desktop version because of its time, place, and action of it. QuickBooks Online is a recent version compared to the Desktop version, and QuickBooks Online is entirely cloud-based with monthly subscriptions whereas the Desktop version is a yearly affair. Lastly, QuickBooks Online has different action features that also need newer terminologies. Rest, we have discussed here how QuickBooks Online can be different with demonstrations.
What are 3 reasons why QuickBooks Online might not suggest a match for a bank transaction?
There are several reasons why QuickBooks Online might not suggest a match for a bank transaction-
- The transaction is older than 180 days.
- The amount that cleared the bank is not the same as the amount in QuickBooks.
- The type is different at the bank and in QuickBooks. The system wants to match an expense with an ACH or debit/credit card swipe with a check.
Is QuickBooks Desktop being phased out in 2023?
QuickBooks Desktop is continuing in 2023 as well. Although, after May 31, 2023, all services provided by QuickBooks Desktop 2020 software, including live support, online backup, online banking, and others, will be discontinued. Subsequently, users won’t find any essential security updates from June 1, 2023.
Why should I switch to QuickBooks Online?
There are various reasons for switching to QuickBooks Online such as more users can join, and work on the same company file, and an updated and more modern interface.
How long does it take to convert QuickBooks desktop to online?
It takes about 30 minutes to complete the QuickBooks Online conversion. Remember to keep, QuickBooks Desktop up and running until the migration is finished.
How much does it cost to convert QuickBooks Desktop to QuickBooks Online?
It is entirely free of cost to convert QuickBooks Desktop to QuickBooks Online.
We can come to the conclusion that QuickBooks Online is slightly different in terms of the user interface. Users have to be aware of the new terms under the pretext that a lot of data wouldn’t be converted to QuickBooks Online. Other than that, converting QuickBooks Desktop to QuickBooks Online is a smart move. Users can contact the official website before taking such a drastic move. We hope that you liked this article!
Read this article for its information on how to convert QuickBooks Desktop to QuickBooks Online. The same piece also covers the pros and cons of doing the process.