I am closing a business at the year end. How will I be able to access my data as required by Rev Canada without maintaining my subscription?

Hi there,

I'm sad to learn that you're closing a business at the year end. I trust that all is well on your end. It's essential you're able to access all of your hard work even after canceling your subscription. I'll share information that'll help you get on track with finalizing all your year-end data. 

Here are some key points to take note of: 

• If you cancel your QuickBooks Online subscription, your data will be available in read-only access for 1 year from the date of cancellation.
• If you cancel QuickBooks Online during the trial period or if your trial expires, your data will be available in read-only access for 90 days.
• If your credit card is declined, you have a 14-day grace period to update the billing information on your account. During this time, you'll have full access to your company data and can create new transactions or make changes. After the 14-day grace period, your account will be suspended and your data will be available in read-only access for one year.

Note: If you resubscribe within 12 months of cancelling a paid QuickBooks Online subscription, you'll be able to access your earlier data. After 12 months, you can still resubscribe with the same credentials, but your data will no longer be available.

 I encourage you to export/print any vital information if you need to. However, as long as you're within the read-only access period of your cancelled account, you'll still be able to export your data.

Here are some helpful articles which show you how to:

• Export Data out of QuickBooks Online
• Export reports, lists, and other data from QuickBooks Online

In case you need more details on how to cancel your account, check out this article here: 

Cancel your QuickBooks Online subscription.

Let me know if you have other questions. I'm here to help answer any questions you may have. 

Quickbooks Online is great and we were very happy users while we required it. However, things change and we have wound down our business. And with COVID, I expect many Canadian small businesses are in the same boat. Given CRA audit regulations that we must maintain business records for 7 years for audit purposes, I believe your company should offer either an "archive for audit" service, or a reduced monthly subscription rate for people that want read only access for audit purposes. Having to pay full monthly rates just to have access to our data feels like you are holding our info ransom. This is an obvious area where QB can help out. We are happy to pay for the service, but paying full monthly rates is ridiculous.  Please step up and do the right thing.

Hi there @FrustratedCustomer2 and thanks for jumping on to this thread to share your thoughts. I hear what you're saying and can definitely agree that COVID-19 has caused challenges for many businesses over the past year. When you cancel your QuickBooks Online subscription you do have access to your books for up to 365 days following the end of your last billing cycle. In that period you can access and export your data in read-only view. You can use this time to export and save the details you'd need for a CRA edit to your computer or harddrive for future reference. Here's how to Export Data our of QuickBooks Online.

I hope you'll consider submitting some official feedback on this if you're still using QBO. You can do so by navigating to the Gear then by selecting Feedback. I'll be sure to pass your suggestions along to my team as well in case you no longer have access to your account to do so this way.

Let me know if there's anything I can do to be of assistance. It's what I'm here for.

@FrustratedCustomer2 

You may have 3 options:

1. Purchase/resubscribe your account once a year for the next 7 years.

2. Export your data out to XLS

https://transactionpro.grsm.io/qbo

3. Purchase a 3rd party conversion service to get a QB Desktop file. Utilize the trial license of QBD to open it later.