Hello, bookkeeping35.
It's a tough decision to close a business, but I'm here to help you ensure you'll have a backup for your data.
If you have QuickBooks Online Advanced feature, you can use the backup feature to create a backup copy of your data. Run a full backup process and export your data to your Dropbox or Google Drive account. Here's how to do it:
- Click the Gear icon, then select Back up company.
- Go to the Local Backup tab.
- Click the Link a Service button, then link your Dropbox or Google Drive account.
- After linking, go back to the Home tab.
- On the company you want to back up, click the Action drop-down menu.
- Select Schedule Local Backup.
It might take a while for the backup process to finish. Check the Local Backup tab or the linked services from time to time.
More details about the Advanced backup process can be found here: Back up and restore your QuickBooks Online Advanced company.
However if you have the Simple Start, Essentials or Plus plans, there is a couple pf ways to create a backup of your data.
You'll want to manually export your lists, reports and other data to an Excel file. This article will guide you through the process: Export reports, lists, and other data from QuickBooks Online.
Take note that the export options may be different across all plans.
You can also use a third-party app to create a backup copy of your QuickBooks Online company. Browse for an app here: https://quickbooks.intuit.com/app/apps/home.
After creating the backups, you have the option to cancel your subscription if you no longer have any tasks to do.
If you still need to pay your payroll tax liabilities and file the necessary forms, check out this article for a guide: Pay and file payroll taxes and forms in Online Payroll.
We hope you'll consider us again on your next business endeavors. This thread is still open if you have more questions about your data in QuickBooks. Need to record the last entries? Let me know and I'll gladly lay down some guides.
