Connect with and learn from others in the QuickBooks Community.
Join nowHi,
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! Go to Solution.
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.
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>
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.
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.
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
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:
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.
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
Now that you've canceled your QBO Essentials account, we can start your QB Self-Employed account:
3 - Sign up for QBSE
4 - Setup your account
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.
Hello I have an expired Quickbooks online Plus, I dont need that level anymore as I am single member LLC operating as S corp. No employees. I want to be able to produce reports for 2019 for tax purposes. What the best way to get the cheapest subscription that will do that?
thanks Mike Smith
Can I import the data from the Online Plus account?
Welcome to the QuickBooks family, @cleverterra.
Let me share some information about the subscriptions in QuickBooks.
In QuickBooks Online, you have the option to downgrade your Plus version to Essentials or Simple Start. It will depend on what's the best plan for your business.
As long as you have your data within the system, you'll be able to produce reports. However, please note that once you switch to a lower version, the reports available will decrease to enhance or general reports only (see the comparison chart link).
Downgrading the existing account will retain the data and remove other features (see screenshot below for the Downgrade option). I suggest reaching out to our QuickBooks Sales Team to help you decide on the product and check for any discounts that you can avail of.
I recommend visiting the following resources for the detailed steps and information about the difference QuickBooks versions:
If you also consider switching to the Self-Employed version, I suggest you check out the articles below. It contains useful information, as well as a test drive for you to try the product without making a purchase:
QuickBooks Self-Employed Overview.
QuickBooks Test-Drives and Trial Links.
Feel free to hit that Reply button if you have any other questions. Have a great day ahead.
As additional reference
If you have decided switching to QBSE, make sure to click the Buy button to get discounted price $1/month for 12 months.
https:// quickbooks.grsm.io/US
https:// quickbooks.grsm.io/us-promo
That doesnt work. You still have access to the QBO for the rest of the month so when you go to login to the QBSE it automatically redirects you to QBO.... How is it possible QBSE cant record COGS and QBO cant file taxes...... And its been years of people complaining....its obviously on purpose. Also how is state taxes not an option in QBSE.... crazy . i might as well use godaddy bookkeeping atleast they fill out the form and give me COGS
You may explore this AST Filing and Reporting app to integrate with QBO.
https:// taxjar.grsm.io/mytax
You may need a 3rd party service converting your data to GoDaddy (Formerly Outright)
less expensive