Is there a way to cancel an online subscription and continue with the desktop version without losing all the information and transactions?

Hello sinonimopr ! Unfortunately, information and transactions can't be transferred automatically from Online to Desktop version, as it's like two different apps. However there is a workaround: you can install Business Importer Online, export all info from your QuickBooks Online profile, then install Business Importer Desktop and import all your previously exported data into your QuickBooks Desktop profile. 

You can export your data from Online to Desktop, sinonimopr.

Before exporting your file, you'll want to check out this article about: Export limitations - QuickBooks Online to QuickBooks Desktop.

You can then follow the step-by-step instruction found in this article about exporting: Export data file from QuickBooks Online to Desktop.

To cancel your account, go to Gear, Account and Settings, and then Billing & Subscription. Just click the Cancel link. 

Note: You can still access your canceled account for a year before we delete it in our system.

We're always here to help if you have more questions. Thanks for posting.

Migrating data from QuickBooks Online to QuickBooks is bit tricky.  If you already have a QuickBooks Desktop file and want to move the data based on certain conditions, it will increase the complexity.

You can try "Excel Transactions" & "SaasAnt Transactions" which makes it much easier.

Basically "Excel Transactions"  let you export the data from online account and "SaasAnt Transactions" allows you to transfer the data to your QuickBooks desktop. Trial versions are available to run a test.

More information at

https://bit.ly/2JpHRde