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northwoodspets
Level 1

Is it better to copy & create a new company file or cancel everything and start over?

I started using QBO over a year ago and while I was very familiar with the desktop version, the online version confused me. I thought it would be best if I hired a bookkeeper rather than try and do everything myself since I was so busy running my business.

 

Long story short - 18 months, a failed integration with my POS/inventory system and two bookkeepers later, my files are an epic disaster. Everything is a mess. I'm wondering what my best course of action would be - creating a new company file and trying to fix existing data or deleting my subscription and starting over from scratch. 

2 Comments 2
MariaSoledadG
QuickBooks Team

Is it better to copy & create a new company file or cancel everything and start over?

Allow me to share some pros and cons if you'll start over your subscription or fix your existing data in QuickBooks Online, northwoodspets.

 

First, make sure to know what process will take longer. If there's really a need to start over because data is completely messed up, then you can cancel your subscription and start a new company. You'll have to realize that when starting over this involves a lot of things such as setting up a new company file, customizing a chart of accounts, entering product and services, customizing invoices, connecting bank accounts, etc. For more information, you'll want to check out this article in case you'll have to create a new company file so you can import lists to QuickBooks Online: Move your lists to QuickBooks Online.

 

However, if it will only take a while to fix your company file so much the better, This way, the lesser processes that you'll have to undertake the lesser complex for you to do. You may also want to reach out to your accountant so they can double-check the root cause your incorrect data that leads to messing up all the information.

 

In case you decide to start over, you can go through these articles so you'll be guided. Learn the product basic and get set up.

 

Let us know if you need help in anything with QuickBooks. We'll always be right here to assist you further.

Fiat Lux - ASIA
Level 15

Is it better to copy & create a new company file or cancel everything and start over?

@northwoodspets 

I would recommend to open a new blank QBO account instead.

https:// quickbooks.grsm.io/US

https:// quickbooks.grsm.io/us-promo

 

then utilize a migration tool

https:// transactionpro.grsm.io/qbo

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