Transferring data to new company ....

Deadwood Al · ‎August 13, 2024

QBES ....

Because our chart of accounts is far too complex and poorly organized, we have concluded that it would be easier to create a new QB Company, create a chart of accounts that conforms to the standard format, and begin to use Classes for income and expense categorization. We will be creating the Chart of Accounts and using this structure for creating the 2025 budgeting. .

When we begin using the "new" company in January, we will have the "old" company files available for reference and in case we need information from inactive customers or vendors who may wish to reactivate, and for doing 1099 reporting by the end of January.

My question here concerns the balance sheet items: we will need to load "beginning balances" from the ending balances of the "old" company, and I am primarily concerned with the following:

--- Customer File: the easiest and quickest way to transfer the active customer file records into the new company, and then of course, transferring the accounts receivable data into the new company.

--- Vendor file: the easiest and quickest way to transfer the active vendor file records into the new company, and then of course, transferring the accounts payable data into the new company.

--- Other Names: a way to quickly and easily transfer records old company to new company

--- Employees: a way to easily and quickly transfer employee records from old company to new company.

QUESTION: We currently have two companies on our system, and we are using Enhanced Payroll for both. We almost certainly will need to have the "old" company to do the W-2 reporting for 2024 payroll, but we will not be running 2025 payroll in the old company. That will be done only in the new company. For some reason, I think I remember something about a limit on how many payroll systems can be done ... are we going to run into a problem by having a need for 3 payroll data access in early 2025, even though only two of them will be actually processing 2025 payroll?

I am open for suggestions and watch-outs for this process, and instructions on anything I need to do with notification to QB for any reason, and particularly anything needed to be done for the payroll issue. Please help out with some guidance on this, and links to specific Help documents that provide some guidance. Thank you in advance.

Candice C · ‎August 13, 2024

Hey there, @Deadwood Al.

It's great to see you back in the Community!

Let's clarify a few things before going in depth:

Are you going from one QBDT to another QBDT account?

In the meantime, you can review this guide to help you out:

Export lists from the old company into a new data file

I'll be waiting for your response!

Deadwood Al · ‎August 13, 2024

Yes, merely (!) creating a "New Company" on our existing QBES. Not exactly sure what you mean by "QBDT Account". It will be our account on our server, just with a new Company file in addition to the two that now exist. One of the two that currently exists will no longer be used for daily activity or payroll after Jan 1st ... except for the payroll need to generate W-2 information by end of January and the 1099 NEC and MISC forms and the 941 and state employment tax reporting.

In January 2025 one of the existing companies and the new company will be used for daily activity and payroll processing.

Hope that helps clarify. Thanks for asking to be sure.

Carneil_C · ‎August 13, 2024

Thanks for replying and adding details to clarify your issue about transferring your data in QuickBooks Desktop (QBDT), @Deadwood Al.

I'm here to address your concerns one at a time.

We can seamlessly transfer customer, vendor, other names, and employee files by exporting the list and importing them to the new company file. Ensure you don't include damaged files and create a backup before proceeding.

To start exporting, you can follow the steps below. Here's how:

Go to the QuickBooks File menu and select Utilities > Export > Lists to IIF Files.
Choose the list you want to export and click OK.
Browse the location where you want to save your file and click Save.

Once done, you can follow Steps 2 and 3 in this article for a detailed process: Export lists from the old company file into a new data file.

Also, please know that we only have one Employer Identification Number (EIN) per company. Thus, you're unable to access three payroll data if you only have one EIN, as this will cause an issue.

Moreover, you can have your old company do the W-2 reporting for 2024 as long as you'll be using your new company file for your daily payroll tasks in 2025. Then, I recommend contacting our Payroll Support Team before running payroll for the new company to ensure that the Payroll ID is transferred first.

I'll be adding this helpful resource that can guide you with your payroll in the future: Create and run your payroll.

You're always welcome to visit this thread again if you need more help managing your files or anything about QuickBooks. It will be my pleasure. Stay safe always.

Deity Alpha · ‎August 13, 2024

@Deadwood Al

If you are not familiar with IIF, you should have a migration tool. It's a $299 one time license and you can get $100 cashback to purchase it via a partner.

https://get.transactionpro.com/qbd

Deadwood Al · ‎August 14, 2024

Also, please know that we only have one Employer Identification Number (EIN) per company. Thus, you're unable to access three payroll data if you only have one EIN, as this will cause an issue.

Moreover, you can have your old company do the W-2 reporting for 2024 as long as you'll be using your new company file for your daily payroll tasks in 2025. Then, I recommend contacting our Payroll Support Team before running payroll for the new company to ensure that the Payroll ID is transferred first.

Hmmm .... Looking for a solution to the problem of one EIN.

The problem with our old COA is significant enough to make it far easier and preferable to trying to change the GL account number, merge GL numbers, and mess with the 1099 Flags in our old system, plus we have many old and inactive customers (members), vendors, other names, and employees that we would like not to bring over to a new system. We simply cannot make the change within our existing system.

And the issue with the Payroll: Because the federal W-2 and the 1099 reporting is not due or done until later in January, we will have payroll running in the new system in January before we complete the year-end tax reporting out of the old company (the payroll system from 2024). How do we accomplish this? We are not processing new (2025) payroll in the old system, only in the new company file. But the data in the old company file is where the W2, 941, 940,1099's and state employment taxes would be done.

Might there be a way to bring over from old company file to new company file the 2024 payroll data as soon as the last payroll for 2024 is finished but before any 2025 activity is done in either payroll OR the financial system? If so, this would allow us to use just the new system for all the 2024 employment tax reporting.

Who would we talk with in QBES support (both Financial and Payroll) for doing this?????

Candice C · ‎August 14, 2024

Good evening, @Deadwood Al.

Thanks for reaching back out to the Community!

To be sure about all the details with the EIN, how to properly move the data, and more, I recommend contacting our Customer Support Team for further assistance.

Get in touch with Payroll first and then they should be able to transfer you to regular support for moving data.

If you have any further questions, just let me know. Have a great day!

MJBaccountant1 · ‎August 23, 2024

I have the same questions as you but I am wanting to transfer customer, vendor activity from my old QBDT to the new QBDT company that I had to create from my previous problem. The peachtree option didn't work because I had too old of a peachtree so I had to create another company in my QB pro 2020 DT version and I am dreading having to data enter all that customer and vendor information again such as invoices, estimate, payments and vendor bills and payments and I know you can export the customer, and vendor lists but I am under the impression that it doesn't not bring over any activity, only the names and addresses, am I correct in that statement? I need guidance too. I am unfortunately having to go back several years due to the previous bookkeeper not entering in the correct information at the beginning.

Deity Alpha · ‎August 23, 2024

@MJBaccountant1

The peachtree option didn't work because I had too old of a peachtree

How old?

MJBaccountant1 · ‎August 26, 2024

2002

On Beta · ‎August 26, 2024

QB Desktop 2002? You can purchase a 3rd party service to upgrade your data.

MJBaccountant1 · ‎August 27, 2024

no my peachtree is 2002, my QB Desktop is pro 2020

On Beta · ‎August 27, 2024

Can you upgrade your data to Peachtree 2008 or 2009 as the first step?

MJBaccountant1 · ‎August 27, 2024

unfortunately I have had to abandon that and go to create a new QB company for this company and go back and audit the bank statements and go a different route to bring the information to date. I don't have the funds to go purchase any back editions.

On Beta · ‎August 27, 2024

You can purchase a third party service to convert the data as I mentioned earlier if you have the budget.

Topics

Training

Community

Resources

Transferring data to new company ....