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Lynnise-Smith
New Member

If we start a new QBO subscription, will we still be able to access our old file for at least 7 years to meet IRS record-retention requirements?

We are a nonprofit organization that has used our current QBO subscription for approximately five years. The existing file contains valuable historical financial data that we may need to reference for IRS, audit, grant, or internal reporting purposes. We are considering starting a new QBO subscription rather than restructuring our existing file, due to the extent of cleanup required.

2 Comments 2
jenop2
QuickBooks Team

If we start a new QBO subscription, will we still be able to access our old file for at least 7 years to meet IRS record-retention requirements?

Thanks for joining us here in the Community, Lynnise.

 

Company data for an inactive or cancelled QuickBooks Online account will only be retained for one year. If not resubscribed within that period, the system will automatically delete everything on the account.

 

You'll want to export reports and lists of transactions for record-keeping if you want to proceed in starting a new subscription. Let me share these articles as your guide:

 

 

The Community is always here if you need anything else. 

SIAB
Level 7

If we start a new QBO subscription, will we still be able to access our old file for at least 7 years to meet IRS record-retention requirements?

@Lynnise-Smith 

You can convert your data to a QB Desktop file and use the trial version to access your historical data for good.

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