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stacyintx
March 22, 2021
Question

moving a class to a new company

  • March 22, 2021
  • 3 replies
  • 26 views

Years and years ago, the company's owner started the books in QB in 2008. The core business (CB) has 8 stores/classes plus a few corp OH classes. We pay rent as usual on 7 of them, but the 8th store & land is owned by another company that the owner started for the sole purpose of owning this store's property. This other company (MDP) is on the books as another Class, and shows rental income and depreciation only. The owner now wants MDP to be completely removed from the other core business, so only CB's 8 stores/classes and Corp OH are included in all information. We've done this manually for years but now he wants it completely moved to a new QB Company. I've searched but don't know how to move a class to a new company and still keep the history of the other classes. Any help is appreciated.(note that I have modified the reports before, but that's not what he now wants)

3 replies

Rose-A
Rose-A
Level 10
March 22, 2021

I know a way on how you can move a class to a new company and keep the other's history, stacyintx.

 

QuickBooks Desktop allows you to export your class lists via IIF Files and import them to your new company. Let me walk you through the process.

 

To export your class list:

 

  1. Click File at the top menu bar and choose Utilities.
  2. Select Export and pick Lists to IIF Files.
  3. Choose Class List and click OK.
     
  4. Enter a name and select where you want to store the file.
  5. Hit Save.

 

Once exported, you can refer to this article for the detailed steps on how to import the lists to your new company: Export, import, and edit IIF files. On the same link, you'll find tips on how IIF works as well as its limitations.

 

This should keep you moving today, stacyintx. Don't hesitate to let me know if I can be of additional assistance while working in QuickBooks or need more help with the class feature. I'm always here to keep helping. Have a good one!

stacyintxAuthor
March 23, 2021

Thanks for your reply. So by exporting the class, it will remove all history associated with that class across all accounts and put in the new company? Will this cause issues with balancing in the old company that is staying where it is?

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