What happens when QB2022's rentail is cancelled?

When the subscription license expires, your QB Desktop program will be locked. You can use the trial version to open company files in single user mode for a limited time (eg 30 days). You do not need to re-subscribe your license and it will be easier to buy a new one instead. The potential issue is that you may need to purchase a new license for QB Desktop Pro and Mac through a partner/retailer at this time.

I'm here to ensure your questions are answered accordingly, ToddAndMargo.

Once QuickBooks Desktop is canceled, the user will no longer receive software updates. The QuickBooks services that will stop working include the following:

• Live Support.
• Payroll Services Updates
• Email from QuickBooks
• Intuit Payment Network
• Credit Card Processing
• Bank Downloads

The user can record some stuff and the data is still there. On the other hand, QuickBooks will run smoothly again once Intuit successfully renewed the program, so I'd suggest replacing the canceled credit card to avoid service interruption.

We can bookmark and take a look at this link to learn more about handling QuickBooks Desktop subscriptions.

Let me know if you have additional questions about managing your subscription. I'm always around to guide you again.

In the instance where a company owner retires and shuts his business down and no longer needs QB for future entries, if they let the rental expire, will they still be able to work on their old data, which they usually need for five years after retiring/closing?

You can utilize the trial version to open your company files as I mentioned earlier. Otherwise, purchase a new license and ask for the refund within 60 days. Another option, sign up for QB Online Accountant version and utilize it for free. You only need to purchase a 3rd party conversion service.

So either keep paying for it in perpetuity or migrate to GnuCash.  Geez!