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.
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?
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.
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
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:
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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