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Camille_26
Level 1

Copying an Existing Company File

Hey Guys

 

Quick question, I am interesting in copying over an existing QuickBooks Online file to start a new company file (different currency, same structure). Just wanted confirmation that the accounts when copied over, if they will all carry the currency of the original file or whether I will be able to change the currencies assigned to the accounts in the Chart of Accounts.

 

If they can't be changed, any suggestions on how I should approach outside of creating the company from scratch. 

4 Comments 4
Fiat Lux - ASIA
Level 15

Copying an Existing Company File

What conditions do you have for the first QBO account? QBO US account with multi currency and non USD activated as home currency, or something else?

Camille_26
Level 1

Copying an Existing Company File

Home Currency is USD with multi currency activated.

 

Basically transactions are recorded in say Euros (invoices, bills, etc) so I would have AR, AP accts in Euro already but with the new company we will be using GBP. These currencies are just for example purposes.

Fiat Lux - ASIA
Level 15

Copying an Existing Company File

If the multicurrency feature is enabled, there is no easy way to migrate data. You may consider using a migration tool or purchase a 3rd party service to do so.

https://transactionpro.grsm.io/qbo

 

FateCandylaneT
QuickBooks Team

Copying an Existing Company File

Hi! I appreciate you reaching out to us here in the Community, @Camille_26.

 

Yes, Fiat Lux is right. We won't be able to migrate data if the multi-currency feature is enabled. Changing the currencies assigned is also not possible in QuickBooks Online (QBO) Advanced. However, we can copy an existing file to another company. 

 

First, let's make sure to have a blank company file before moving your old data. This way, you can access your file in a different QBO account after creating a backup copy

 

Once done, you can now proceed to these steps in copying your file to your new company:

 

  1. In your old QBO account (Company A), click on the Gear icon. 
  2. Select Back up company.
  3. Click Copy from the menu.
  4. Select New Copy.
  5. In the Copy from the drop-down menu, select Company A. This is the company you're copying.
  6. From the As-of field, select the date and time of the backup you want to restore.
  7. In the Copy to drop-down menu, select your new QBO account (Company B) where you want to copy the file.
  8. Select Create copy, and click Copy to confirm you want to overwrite Company B with a copy of Company A.

 

To know more about the detailed information from the steps above, you may refer to this article to be guided: Make a copy of your QBO Advanced company.

 

Additionally, if you're using QBO Plus or other subscriptions with a multi-currency feature, you can check this link to learn what data can be imported to your new account: Move your lists to QBO.

 

Furthermore, you can visit the Intuit App store if you're interested in checking out other third-party applications that work best for you.

 

You can always leave a reply below if you need further assistance with your QuickBooks account. I'm here to help. Have a good day. 

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