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Everything you need to know about connecting your bank and credit cards in QuickBooks Online

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sld2012
Level 2

Migrating from QB desktop to QBO

QuickBooks has decided to end the desktop version and force users to use an online version! I haven't migrated yet but have been reading on the many failures of migration. I decided to call the sales/help line with a few questions but wasn't much help. Can someone please help with my questions.

 

1) QB uses MovemyBooks to help with migration but only offers 2 financial years free, what happens to the previous years? Would all transactions just start from 01.02.2022? the rest entered as a total opening balance? Or pay Β£900 + VAT to migrate maximum 12 years!! We have been using QB since 2003.

 

2) I have been told by QB sales that MMB converts all multi currency to GBP and when transferred to QBO I would have to manually change 1000s of transaction from GBP to the original currency. Is this a joke? where would one get the time to convert all these transactions? There would be discrepancies in all reporting due to exchange rates!

 

Seems like QB has gone back to the stone age instead moving forwar and making life easier!

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