Hi,
I'm assisting my company and the company that has purchased our company make a move to QuickBooks Online Plus (QBO). We've been using Quickbooks Pro Desktop 2016.
The sale of our LLC company is an asset sale; the new company wants us to create an accounting system in QBO, but the old company will be completing its payable, receivable, and payroll cycles including reporting business up to the purchase date, likely January 1, 2019.
The new company's management team prefers we use QBO. We don't need to move history or balances, just the structure. I'm assusming, rather than preparing a clone or export of our present company, that we will export the COA, vendors, customers, employees, other items, fixed assets, etc., then import them into a fresh company with the EIN and business structure setup.
Does that seem like the best approach, exporting lists and then re-importing them into a fresh company file?
Would it be best to do that list exporting in QB Desktop Plus 2016, since that is what we are presently using?
Should we create the new company and import the lists/COA using QBO, or instead using QB Desktop then exporting to QBO?
What are any additional steps we'll have to take, especially to carry out payroll which will be the first critical task?
Will we be able to export custom invoice templates from QB Desktop, complete with logo and formatting?
Can you provide any other advice to make the transition go more smoothly? Are there other considerations or items to be dealt with?
Our company is a small service business with about 20 employees. We have many customer records, many one-time only with no expectation of repeat business. I'm guessing 100-200 do tend to repeat. We do not have an inventory business where items are sold to customers. We do have some depreciable assets.
Thank you in advance for any help offered.
