You need to access your old account via a web browser, as the new Sole Trader only migrates the most recent year of transactions. However, your historical data isn't deleted; it is usually stored in a "read-only" state in your former QuickBooks account for up to a year after the switch. Any data from prior years will not migrate and must be imported manually.
To recover your four years of accounts and prepare for your tax return, create a copy of your old QuickBooks account, then save it in an Excel file. After that, import them into your Sole Trader account and categorize them if needed. Here's how:
- In your Sole Trader account, navigate to the Transactions > New transaction dropdown > Upload Bank Statements.
- Click the Drag and drop or select files to upload the CSV file from your computer
- Select Next
- Match the fields to the correct columns.
- Select Done.
Also, download your Profit and Loss and Tax Summary reports for those years for a high-level view.
By following this process, you'll have the hard data needed for your tax return immediately. Please let us know if you require further assistance or have any additional questions. We're here to help.
