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Marce55
Level 1

Can I transfer from QB Online all the data to a new Desktop account, considering that is because of an Entity change from Sole proprietorship to an S corporation

Hi - I've been using Quickbooks ONLINE for a couple of years now. We started out as a sole prop but on this January  converted to an S corp,. Here's my question – I've been using the same company, just added Inc. to the end of the name. But I'm thinking I should have started it as a new company 01/01/2020. If I do this, can I Export and transfer over my customer data (billing, payments, addresses....) reports and everything else to a new account in QuickBooks Desktop. The easiest would be to continue using the existing data but how do I let the system know that the sole prop incorporated starting 01/01/2020.

Plan B)
In the current account I’ve already concluded with all the tax payments, the E-filing and submissions of annual and quarterly forms for 2019. So I was thinking that I could export all the data of that account to have it on file especially for tax season this year.

Purchase a new account of QuickBooks Desktop for the S Corp and import to the new account only the customer data to the new desktop account, and star from scratch with the new bank account for the Corporation for 2020? And then cancel the sole proprietor account.
Any suggestions? please
1 Comment 1
MirriamM
Moderator

Can I transfer from QB Online all the data to a new Desktop account, considering that is because of an Entity change from Sole proprietorship to an S corporation

Welcome to the Community, Marce55

 

Yes, you can transfer your QuickBooks Online (QBO) data to QuickBooks Desktop (QBDT). Let me show you how to convert it:

 

  1. Click the Gear Icon at the top.
  2. Choose Export Data.
  3. Enter your reason why you're exporting your client's data.
  4. Click Continue.
  5. In the Moving to QuickBooks Desktop? section, select Learn more.
  6. Under Download company data, choose Learn more.
  7. Review your data from the export overview screen, then click Get Started.
  8. Pick Install ActiveX Control Now and follow the steps to install ActiveX.
  9. Follow the on-screen prompts and wait for a notification for your file to be ready.

For more detailed instructions, check out this article: Export and convert your QuickBooks Online data to QuickBooks Desktop.

 

Moreover, when exporting your QBO data, there is some information that will not be included. For a more comprehensive list of what will and won't be converted to QBDT, check out this article: Limitations when you convert from QuickBooks Online to QuickBooks Desktop.

 

If you need further assistance with the process above, I suggest contacting our Customer Support Team. One of our specialists will help guide you via a secured remote access session.

 

Here's how to reach them:

  1. Click the Help icon on the top right.
  2. Click Contact Us button at the bottom.
  3. Enter a short description about your concern.
  4. Click on Let's talk.
  5. Choose the method on how you'd be connected to support.

Hit the Reply button if you have other questions about the export process. I'll do whatever it takes to ensure your concerns are addressed. Enjoy the rest of your day.

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