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Established Member

Changing Subscriptions from essentials to self employed

Hi, 

 I currently have been enrolled in using quick books online essentials and I would like to shift over to QuickBooks self employed. How would I go about making this change in my subscription? 

Solved
Best answer 01-08-2019

Accepted Solutions
Moderator

Re: Changing Subscriptions from essentials to self employed

Hi @KEE Tradesman LLC! Thanks for asking. While there isn't a direct downgrade path from QuickBooks Online to QuickBooks Self-Employed, you can still easily start a QuickBooks Self-Employed account in no time. Before you do, let's make sure QBSE is the right product for you. Here's what it can do - 

 

1 - Automatically  track your vehicle miles

2 - Track your income, expenses, and tax deductions (if you use the same bank account for business and personal use, you can easily separate those personal transactions from your business transactions)

3 - Upload all your receipts, and forward e-receipts from your email to your QuickBooks account

4 - Automatically estimate your Quarterly Taxes (if you sign up for the tax bundle, you can also pay your quarterly taxes from QBSE)

5 - Run simple reports such as a Profit & Loss, Tax Summary, Tax Details, Mileage, and Receipts reports 

6 - Add an Accountant for easy and secure sharing

7 - Export your self-employed annual tax data to TurboTax for faster filing (included with only the tax bundle)

8 - Send invoices to your customers

 

Here are some limitations with QuickBooks Self-Employed 

1 - Does not track Sales Tax

2 - Transaction categories match the Schedule C and currently are not customizable 

3 - You can only track one vehicle per account

4 - Does not track Cost of Goods Sold or Inventory

 

I hope this helps with your decision-making, but if you have any questions about QBSE, please don't hesitate to ask. 

6 Comments
Established Community Backer ***

Re: Changing Subscriptions from essentials to self employed

you can not, there is no path to QBSE or back from it

 

You are self employed if you own a company by the way

 

QBSE is a step backwards in business accounting, why do you want to do that>

Established Member

Re: Changing Subscriptions from essentials to self employed

Thanks for the reply. I am self employed and I was under the impression that QBSE was what I should be using? I didn’t do my homework when originally picking. So, now Being it is a new year, I am revisiting everything and seeing if I can make any adjustments. 

Moderator

Re: Changing Subscriptions from essentials to self employed

Hi @KEE Tradesman LLC! Thanks for asking. While there isn't a direct downgrade path from QuickBooks Online to QuickBooks Self-Employed, you can still easily start a QuickBooks Self-Employed account in no time. Before you do, let's make sure QBSE is the right product for you. Here's what it can do - 

 

1 - Automatically  track your vehicle miles

2 - Track your income, expenses, and tax deductions (if you use the same bank account for business and personal use, you can easily separate those personal transactions from your business transactions)

3 - Upload all your receipts, and forward e-receipts from your email to your QuickBooks account

4 - Automatically estimate your Quarterly Taxes (if you sign up for the tax bundle, you can also pay your quarterly taxes from QBSE)

5 - Run simple reports such as a Profit & Loss, Tax Summary, Tax Details, Mileage, and Receipts reports 

6 - Add an Accountant for easy and secure sharing

7 - Export your self-employed annual tax data to TurboTax for faster filing (included with only the tax bundle)

8 - Send invoices to your customers

 

Here are some limitations with QuickBooks Self-Employed 

1 - Does not track Sales Tax

2 - Transaction categories match the Schedule C and currently are not customizable 

3 - You can only track one vehicle per account

4 - Does not track Cost of Goods Sold or Inventory

 

I hope this helps with your decision-making, but if you have any questions about QBSE, please don't hesitate to ask. 

Established Member

Re: Changing Subscriptions from essentials to self employed

Hi @KimberlyT,

 

 This is exactly what I am looking for and going into the new year I’d like to switch as soon as possible. Should I put a call into QB? What would be the best way to handle this? 

 

Thanks 

Moderator

Re: Changing Subscriptions from essentials to self employed

Hello KEE Tradesman LLC,

 

QuickBooks Online Essentials and QuickBooks Self-Employed are two different subscriptions. They differ on how to account transactions and functionality. In your case, you'll need to sign up for a new QBSE account. Once you're done setting up your Chart of Accounts, etc., you can start importing your bank transactions. 

 

Here's how: 

  1. Select the Gear icon at the top.
  2. Select Imports.
  3. Select Import older transactions on the right for the account you want the transactions to belong to.
  4. Follow the instructions onscreen to finish importing your data.
  5. Select Import.

Please note that the data you have in QuickBooks Online Essentials can't be imported to your new account. You'll need to manually record them. 

 

If you have any questions, please let us know. We're here to help. 

Moderator

Re: Changing Subscriptions from essentials to self employed

That's great to hear, @KEE Tradesman LLC! Here's what you'll do - 

 

Let's wrap up a couple things in your QuickBooks Essentials account first: 

1 - Download all of your reports for your records 

2 - Cancel your QBO Essentials account from the Gear Icon

  • Sign in to your QBO Essentials account
  • Select the Gear Icon
  • Select Account and Settings 
  • Select Billing and Subscriptions
  • In the QuickBooks section, select Cancel
  • Select Continue to Cancel, then Continue to Cancel again
  • Finally, answer the exit survey questions (to help us improve QBO/understand your reason for canceling), then scroll down and select Confirm Cancel

Now that you've canceled your QBO Essentials account, we can start your QB Self-Employed account: 

3 - Sign up for QBSE

  • You can choose to Buy now for 50% off for the first 3 months (pricing is subject to change) or toggle to sign up for the Free trial for 30 days Sign up for QBSE.jpg

  • Upon sign-up, you'll be asked to start an Intuit account. Since you already have an Intuit account (your username and password for your QBO Essentials account), you can select Sign In and use your existing Intuit login credentials. Check out my second image attached as an example.Setup QBSE Account - Sign In.jpg

4 - Setup your account

  • Start by setting up your bank accounts for automatic categorization
    • From the Gear icon, select Bank Accounts and setup your banks
    • Once the bank accounts are set up, you'll see your bank transactions in the Transactions tab. This is where you'll categorize your transactions as "Business" or "Personal". You can also set up Rules which allow QBSE to automatically categorize recurring transactions for you. 
  • Setup your Tax Profile
    • This is very important in order for QuickBooks to accurately estimate your quarterly taxes.
    • From the Gear icon, select Tax Profile and complete all the information in the profile and save. 
  • Setup your Vehicle Profile (if you will be tracking your business mileage)
    • From the Gear icon, select Vehicle Info and enter your vehicle's information and save. 
    • Once you wrap this up, you'll track your mileage in the QuickBooks Self-Employed mobile app on your cell phone (we'll cover this a bit later).
  • Setup your Home Office profile (if you have a home office)
    • From the Taxes tab on the left-hand menu, select Annual, scroll down and expand Home Office Deduction. Complete the information about your home office. 
  • Setup your Invoicing
    • From the Invoices tab on the left-hand menu, you have the option to set up your Merchant Services account or create an invoice. We encourage setting up your merchant services account to receive your payments faster from your clients. 
    • Setup your Invoice Profile 
      • Select Create a new invoice and from the bottom of the invoice, fill out your Invoice Profile

I hope this helps! Please feel free to let me know if there's any place of confusion, or if you have any more questions.