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contentmentcampi
Level 1

Ive sold my company. Id like to keep it in the possibility I get audited. Is there a way to keep a copy online without paying the full subscription rate?

I just need to be able to run reports, not enter new info.
1 Comment 1
Rea_M
Moderator

Ive sold my company. Id like to keep it in the possibility I get audited. Is there a way to keep a copy online without paying the full subscription rate?

I've got your back for keeping a copy of your QuickBooks Online (QBO) company data, @contentmentcampi.

 

Currently, keeping a copy of your company file online without paying the full subscription rate is unavailable. When you'll no longer be entering new business info and transactions after you sold your company, you may opt to cancel your QBO subscription. With this, you'll have read-only access to your data online for a year after completing the process.

 

However, before doing so, I'd recommend exporting your data (i.e., reports and lists) to Excel for future use (i.e., audit). To do this, here's how:

  1. Go to the Gear icon.
  2. Under Tools, select Export data.
  3. On the Reports tab, set the date range.
  4. Add or remove items from the Reports and Lists tabs by toggling the slider.
  5. Select Export to Excel. Then, you'll be prompted with confirmation that the data has been exported. 80.PNG

 

Exported reports will include the data from posting transactions such as invoices, receipts, bills, balances, and so on. In case you want to export non-posting information that's not included in Reports and Lists, you can refer to this article for the complete details: Export reports, lists, and other data from QuickBooks Online.

 

Also, I'm adding this article to learn more about data availability and export policies once you've decided to cancel your QBO account: What happens to my QuickBooks Online data after I cancel?.

 

In line with this, you can also opt to resubscribe and reactivate your account for audit purposes. Make sure to do it within the preservation date range (365 days after the cancelation) so your company data will still be available.

 

Keep me posted on how it goes. If you have other concerns about keeping a copy of your QBO company file, please don't hesitate to drop a comment below. I'm always around to help. Take care and stay safe, @contentmentcampi.

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