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TheSeltzerGroupNYC
Level 3

Was Chapter S, now sole proprietor, new co, so new QB file - need to copy old information

Hi all!

 

I've seen MANY posts/solutions about copying labels, account names, etc., but nothing about copying transactions to/from QB files. I have an old file, and I have been able to export LISTS to get all of the account information into a new file, but all of the transaction data remains in the old file. Either I manually enter in hundreds of transactions across multiple accounts, all client data, deposits, payments, invoices, quotes, etc., or just export and import. Is there NO way to do this for a Quickbooks file?

I had a chapter S corp. I closed the corporation because it's just not making enough money, so... I created a sole proprietorship. Makes financial sense. I have all the information in the old file and am forced to keep entering transactions in that file. My account has informed me I MUST have a new file because the new company starts as of 1/1/2019, and all data prior will not be part of the new. But setting up a new file and entering all of 2019's data manually will take me ..a very, very long time to do. 

Any assistance/ideas/solutions would be very much appreciated. Thank you.

Solved
Best answer February 27, 2020

Best Answers
KathyS296
Level 4

Was Chapter S, now sole proprietor, new co, so new QB file - need to copy old information

Create a COPY of the Chapter S file (Change name, federal id, etc). Condense everything prior to 12/31/2018. Remove the condensed transactions prior to 1/1/2019. 

 

View solution in original post

10 Comments
Anna S
QuickBooks Team

Was Chapter S, now sole proprietor, new co, so new QB file - need to copy old information

Hello, @TheSeltzerGroupNYC

 

I hope you're having a fantastic Friday. You can import bank transactions by using the QuickBooks Import Excel and CSV toolkit. This will allow you to upload a CSV file from your bank to bring in all of your purchases. Here's how:

  1. First, you'll need to download the CSV toolkit by open the file download window from the toolkit and press Save.
  2. Next, go to your Windows Desktop, then hit Save.
  3. Then, double-click QuickBooks_Import_Excel_and_CSV.exe on your Windows desktop to open the WinZip Self-Extractor window.
  4. Choose Browse, select a folder to install the toolkit, and hit OK.
  5. Push Unzip to get the contents out of the file, and then click Close to close the WinZip window.
  6. Finally, you can open the QuickBooks Import to Excel and CSV folder you selected in step 4.

Now you can obtain the CSV file from logging into your bank's website and downloading it. As for all your client data, deposits, payments, invoices, quotes, etc., I suggest checking out our third-party app options to find one that will help you bring all the data over. By using an app, you won't have to enter them into your Desktop account manually.

 

Feel free to comment below if you have any other questions. Enjoy the rest of your day!

Fiat Lux - ASIA
Level 15

Was Chapter S, now sole proprietor, new co, so new QB file - need to copy old information

@TheSeltzerGroupNYC 

Utilize this tool to migrate your transaction data from old data file to the new one.

https://transactionpro.grsm.io/qbd

https://partners.saasant.com/affiliate/idevaffiliate.php?id=5051_2

 

Hope it helps.

TheSeltzerGroupNYC
Level 3

Was Chapter S, now sole proprietor, new co, so new QB file - need to copy old information

Hi, Anna. Thank you!

I'm not interested in inventory, as I don't have any, or technically my purchases. I can already import all of my bank statements, but what I cannot do, is automatically categorize them. This is maybe...slightly faster than manually inputting data, but reconciling bank and credit card statements is the same as typing them in to me. Exporting this data and importing it so I can debit and credit the proper accounts with the same name...that's what I'm trying to do. Ideally, we should be able to export all data from say... January 1, 2019 until present, into a new, blank file and re-create all the customers, vendors, accounts, lists, etc. as were in the old file, or... select what we want and/or don't want. 

I don't do payroll - no employees, save myself - and even my sales tax filings aren't done through Quickbooks. But there are so many vendor purchases to track, and customer data:  billings, accounts receivable, etc., quotes, etc. 

The reason I reached out to the community, is because I'm already aware of all the tools to do basic, CSV or Excel exporting of some data, but which third party tools work? Some will cost me many times more than Quickbooks itself. 

I even received a phone call from a company with representatives who seemed to have Indian accents, claiming to be Quickbooks employees, and all they did was read this post, and read back my words to me to prove that they had 'looked up my account information.' It was... a pretty badly executed scam. Of course, their solution would be for me to send them my Quickbooks file - sure no risk there, right? - and they would manually export and import all the information for me into a new file, as directed. Well, I can already do that...I don't need another company to do it for me.

So... I'll browse, again, through third party applications and see what I can come up with. All I need Quickbooks for now, is to track incoming/outgoing/sales tax owed. That's it. It's simple...and I'll probably put banking statements inside, but I'm no longer running a corporation. It would be SO MUCH EASIER if I could simply import a year's worth of transactions from my old file, but...for whatever the reason, Intuit seems not inclined to allow this feature. Again, it's not really for security reasons..I can do everything manually. But this is a relational database. It should be quite easy to do this. Ah well.

But thank you for the suggestions.

TheSeltzerGroupNYC
Level 3

Was Chapter S, now sole proprietor, new co, so new QB file - need to copy old information

Looks like a good tool, Fiat-Lux ASIA. Is this from your company, or something you use regularly? Pretty sure the tool will only be as good as long as I don't upgrade Quickbooks, so... $299.00 for this... then next time...another $299.00, and so on. 

Assuming there are NO other tools other than paid options? Pretty sure...a huge number of businesses would find all of this useful, and since QB is a relational database, it's technically simple to do. Yet...for years, I've never seen any support tools to accomplish the task, other than quite complicated, expensive tools by third parties. 

Have you had experience with this particular tool? It is something your company utilizes when helping others? I'm a one-person operation making less than $10k a year, so... $299 is a large expense to 'try it out.'

Many thanks.

Regards,

Larry Seltzer

Fiat Lux - ASIA
Level 15

Was Chapter S, now sole proprietor, new co, so new QB file - need to copy old information

@TheSeltzerGroupNYC 

We always recommend those tools to our clients especially for any IIF rookie. For a limited data migration, you may utlize the trial period. Otherwise, it is a one time license similar to QB Desktop Pro/Premier edition.

 

Hope it helps.

TheSeltzerGroupNYC
Level 3

Was Chapter S, now sole proprietor, new co, so new QB file - need to copy old information

Thanks much! I'll give it a try. 

For my purposes... it's just one export and one import. If I don't have to spend $300, that would be nice. If I knew it would work, I'd even consider spending the money, but...  either way..thank you.

KathyS296
Level 4

Was Chapter S, now sole proprietor, new co, so new QB file - need to copy old information

Create a COPY of the Chapter S file (Change name, federal id, etc). Condense everything prior to 12/31/2018. Remove the condensed transactions prior to 1/1/2019. 

 

View solution in original post

TheSeltzerGroupNYC
Level 3

Was Chapter S, now sole proprietor, new co, so new QB file - need to copy old information

Kathy, I can't believe it was THAT SIMPLE! Thank you!!

 

I made a copy - I've dealt with copying QB files over the years, so if this was a multi-user version, on a server, or something else, it would be more complicated, but it's not, so I'm fine. I changed the file name, opened the copy file, changed the name, removing the .inc, added an EIN - I didn't have one..odd - which changed the tax forms to sole proprietor, 1040, made sure the contact information, email, etc. was correct - this is a very old file, so some data wasn't in there, and then I ran the utility to compress and remove data before Jan. 1, 2019. Voila!

 

Took a few minutes, and it worked! Kept all active customers, vendors... anything in the bank accounts...etc.  During the transition in 2019, I was still using the old company's bank account, so I needed a few months of balances/transactions for that...and of course, it's all there!

Does Intuit not like doing this? It seems so incredibly simple, and safe. I'm astounded!

I also know that if I had a different type of company, payroll, transactions, etc., it might be more complicated, but I'm very glad I don't have to spend $300 to do a manual import/export process just to do what you suggested, which worked perfectly. 

 

Many thanks!

 

Regards,

Larry Seltzer

KathyS296
Level 4

Was Chapter S, now sole proprietor, new co, so new QB file - need to copy old information

You are welcome Larry.  I am a big proponent of saving time and the KISS theory. I don't know why so many people, including QB Tech support make things more complicated then they really are.

 

Best wishes.

 

Kathy 

TheSeltzerGroupNYC
Level 3

Was Chapter S, now sole proprietor, new co, so new QB file - need to copy old information

Well, I appreciate it very much! Spending hundreds of dollars or weeks of time for something that took about 30 seconds...seemed to be a horrible waste. I do wish QB would adopt these workarounds and/or put them into FAQs. Are they not valid, or...? Seems absurd, but I'm used to it by now. Thanks again!

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