Hi there a_ramsay-ymail-c,
It is important that all your transactions are correctly entered in your books for your account balances to be accurate. QuickBooks is a great software able to help you keep track of sales and expenses so you can see the profit of your company. I can provide some information about QuickBooks Online and the process of transferring data and canceling an account.
To transfer your information from QuickBooks Desktop to QuickBooks Online, you can follow the steps outlined in this article.
There isn't the possibility of opening QuickBooks Online to save data in a version of QuickBooks Desktop directly. To transfer information over from QuickBooks Online to QuickBooks Desktop, they would need to be exported as reports and lists from QuickBooks Online in CSV files and Excel files, then import the information into QuickBooks Desktop.
Lastly, when a QuickBooks Online account is canceled, the information in the account is accessible through a read-only mode for one year, where you can see all the data, print transactions, and export reports, This gives you time to be able to retrieve the information you want to keep. You can resubscribe at any point within the year of read-only mode, but once that period is over, the data can no longer be accessed. That information is listed in this article.
If you have any other questions, feel free to reach out here.
