Learn more about the steps you should take after you move from QuickBooks Desktop for Windows or Mac to QuickBooks Online. This helps you make sure your data is accurate.
Note: Check your books in QuickBooks Desktop and QuickBooks Online until you’re sure QuickBooks Online is right for your business.
Step 1: Compare your financial reports
Compare these reports in QuickBooks Online and QuickBooks Desktop to make sure your data copied successfully:
- Profit and Loss
- Balance Sheet
When you run your reports, make sure of the following:
- The Report period is set to All Dates.
- The Accounting method is set to Accrual.
- To check the balance of each of your Accounts Receivable (A/R) and Undeposited Funds accounts.
Note: When you switch from QuickBooks Desktop to QuickBooks Online, you may notice differences in how your books appear. Learn what doesn’t come over from QuickBooks Desktop to Online. Alternatively, you may consult your accountant for further assistance.
Step 2: Review your accounts’ detail types in QuickBooks Online
When you move your data to QuickBooks Online, take note of the following:
- The process assigns detail types to accounts. For example, Undeposited Funds.
- It’s indefinite what the detail type should be for most accounts.
- QuickBooks Online assigns a generic detail type, such as Other Miscellaneous Income to these accounts.
- You may change this later.
Step 3 (optional): Complete your payroll setup in QuickBooks Online
Make sure you're the primary admin to set up and run payroll in QuickBooks Online.
You may also watch this webinar for more info:
To watch more how-to videos, visit our video section.
Step 4: Review and link your existing QuickBooks Payments account to QuickBooks Online
If you only have a Payments account (no payroll), your merchant account copies automatically to QuickBooks Online.
If you have Payments and Payroll account, or an active GoPayments account, take note of the following:
- You don’t need to sign up for a new one for QuickBooks Online.
- You may unlink your existing Payroll and Payments, or GoPayments account from your QuickBooks Desktop company. Then, link it to your QuickBooks Online company.
Step 5: Learn about the first-in-first-out (FIFO) concept
When you move your inventory to QuickBooks Online, QuickBooks uses the FIFO concept to calculate inventory. Make sure to take note of the following:
- You need to notify the IRS about this change. To do this, file a Form 3115.
- Use the “as of/effective” date you entered during the import.
- Check out how QuickBooks Online accounts for inventory.