Importing reconciliations to Company B

JLATreasurer · ‎October 21, 2025

Hi there

I am using Quick Books Online Advanced. I created a new Company B and copied a back up from Company A. The reconciliations did not transfer. This means that all transactions from the beginning of our old QBO file (1996) are not reconciled in the new file, no history of reconciliations reports, and we won't be able to reconcile moving forward. Please can you advise how I can import these valuable records into company B.

There were other concerning errors. The Statement of Financial Position has several variances, the Statement of Activity looks better there is $5,000 of inventory shrinkage coming through when it should be $0. How can I resolve these issues.

The coping process is extremely time consuming and failed four times until it copied over successfully. There doesn't seem to be a way to interrupt or cancel the copy when it is stuck at 12% for over 12 hours and then fails. This could definitely be an easier process. In all the guidance I read I did not see that reconciliations would not be transferred. I'm hoping there is a solution to this as we need them.

Thank you

Charis [removed]

Raldwin_D

Thank you for the detailed explanation of your concerns, Charis.

Reconciliation reports are part of the data you can’t back up in QuickBooks Online (QBO). You can see the full list in by clicking the data you can’t back up dropdown in this article: Back up and restore your QuickBooks Online Advanced company.

You can import the data by requesting your bank transactions from your bank and manually importing them into QBO. Once imported, you can begin reconciling your accounts.

Regarding the variances in your Statement of Financial Position, you can refer to why the balance sheet may not show a correct balance in this article: Run a Balance report.

In your Statement of Activity, you can examine your inventory that’s causing the $5,000 of inventory shrinkage, and then create an inventory quantity adjustment to make it $0.

Here’s how:

Hover over the +Create icon.
Click Inventory qty adjustment under Other.
Complete the necessary information above that matches your transaction.
Select the Product/Variant with the inventory that’s causing the variance by clicking the dropdown.
Enter the New Quantity or Change in Quantity to offset the inventory shrinkage and bring the balance $0.
Hit Save.

Additionally, the processing time depends on the amount/size of the company data being transferred. Please note that when importing data, make sure your internet is strong and reliable.

You may send feedback with regards to not being able to interrupt or cancel the transfer by clicking the Gear icon on your QBO account and clicking Feedback under Profile.

Feel free to reply to this thread if you have further questions regarding QBO.

JLATreasurer

Thank you so much for taking the time to reply @Raldwin_D I just spent an hour on the phone with a member of the QBO team. Unfortunately they gave me conflicting advice. They said they did not know why the reconciliations had not backed up. They told me to purge Company B and redo the copy. Frustrating if this will not copy over the reconciliations as I have to wait 24 hours for the copy to fail. If the same errors occur on the other two items I will follow your advice.

Is there no other solution to bring reconciliations over? This seems a very labour intensive process for something that should be very simple given the data is all there on QBO. Is there a reason why this can’t be done?

Thank you again for taking the time.

Dandie_A

Hi, @JLATreasurer .

Currently, QuickBooks Online does not have functionality to transfer previous reconciliation history, which includes bank reconciliations, when copying data into a new company file. Reconciliation data is tied to the original company file and cannot be backed up or migrated to a new file due to system design limitations.

Regarding the $5,000 inventory shrinkage you’ve identified on the Statement of Activity, as well as the discrepancies you noted in the Statement of Financial Position, I recommend consulting your accountant to review your financial statements. An accountant will be equipped to analyze these variances, identify any missing or incorrect information, and ensure your books are balanced and accurate moving forward.

Feel free to reply to this thread if you have further questions regarding QBO.

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Importing reconciliations to Company B