Should I let new owners of my business take over my quickbooks so that they get all the client information or should I have them set up their own and transfer the data?

I'll share some details to help you decide which way to go, jill26.

If they will be creating a different account, the new owner will need to start from scratch or import the lists (customers, vendors, products, and services) to the new one. The transactions will be recreated since we can't transfer transactions from one account to another. They can also use a third-party app that offers moving of data between QBO accounts. 

Here's an article on how to import lists for guidance: Move Your Lists To QuickBooks Online.

If you decide to transfer the existing account, you can transfer the Master Admin to the new owner so they can make changes to it. Here's an article as a guide: Change The Master Admin User In QuickBooks Online.

The Community is always here if you need anything else. 

@jill26 

You may need your QBO data for tax reporting later. I would recommend you asking the new owner to open a new blank QBO account instead.

 https:// quickbooks.grsm.io/US

https:// quickbooks.grsm.io/us-promo

then you may utilize an exporter tool to export the data out and remove any data you need prior to give them to the new business owner.

https:// transactionpro.grsm.io/qbo

I see this refers to QB Online. What about a desktop version of QB? Any differences? Thanks 

I see this refers to QuickBooks online. What about QuickBooks desktop version? Are there any differences? Thanks!

@trivello  

It will be easier for QB Desktop. Secure a backup/portable file (i.e QBB/QBM) and give it to the new owner. Mind you, starting next month, Intuit will release the new QB Desktop 2022 and only offers the subscription license. You should purchase the one time license of QB Desktop 2021 or 2020 at a lower price immediately. 

Thank you! We do recurring monthly credit card billing via intuit merch acct. Is it possible to transfer that data or will that all need to be set up from scratch in their new merch account? Thanks! Just sold my biz and the billing piece has been a struggle. 

You should cancel your QB Payment account and let the new owner apply it or use a 3rd party payment processor with their own tax requirement (e.g SSN).