Migrating your data from QuickBooks Online to QuickBooks Desktop can be a bit challenging, @CM39. I'll clarify some important details about your concerns one by one.
For your first question, QuickBooks Online has only one default Accounts Payable and Accounts Receivable account. On the other hand, QuickBooks Desktop allows you to move transactions with multiple accounts receivable or accounts payable lines to multiple journal entries.
You’re right, the credit card payments are debited to Credit Card Payable account and credited to Cash-in Bank account. Although there’s slight differences with how your books appear, rest assured that they are recorded accordingly. This way, we can ensure that they are balanced.
Yes, we need to reconcile the transactions so we can moved them to QuickBooks Desktop. However, we’re currently unable to transfer reconciliation reports into the program.
You’ll want to read about the limitations when moving your data from QuickBooks Online to QuickBooks Desktop for Windows. This will help you understand how we migrate the features, lists, products and services, preferences, reports, and transactions from one program to another.
For your reference, you can pull up the Profit and Loss report on Accrual basis from QBO and QBDT. This way, we can compare and review your books to ensure they match.
Let me know if you have any additional or clarifying questions about migrating your data. Just click the Reply button below, and I’ll be around to help you. Take care and stay safe!
