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QuickBooks Online Tips

From "The Porte Brown Weekly" Newsletter

When you convert from QuickBooks desktop to the Online version should you re-enter your data manually or use the built-in conversion function?

You have made the switch from the desktop version of QuickBooks to QuickBooks Online (QBO). You now have to decide whether you are going to utilize the conversion function or are going to manually input data into QBO. When deciding, there are some things to consider in regards to the conversion function:

 

Limitations:

  • Your QuickBooks file must be less than 200 Megabytes. You can easily check your number of by pressing the F2 key and QuickBooks will display the number in bytes and the number must be smaller than 200,000. If your file is larger than 200 Megabytes it is possible to convert the list items with no transaction data.
  • Once you are signed up for QBO, you have 60 days to import your information.
  • If you have "Multiple Currency" turned on, you cannot use the conversion function.

Issues/Problems:

  • Inventory. It is not recommended to use the conversion function if you have inventory in QuickBooks. If converted, QBO creates unnecessary sub-items for all inventory items. In order to clean the items up, you will need to merge items back together.
  • Any customers, vendors, accounts or employees that were marked "Inactive" will be set to "Active" upon converting.
  • The List, "Other Names," automatically converts to the vendor list, instead of being its own list. This necessarily doesn't create a problem; however, the payee field on checks will be blank.
  • Fields in the desktop version that are not in the online version will not be brought in.

There is also data that you must import manually. Payroll, sales tax items/agencies, memorized transactions/reports, price levels, budgets, sales form templates, and estimates must be manually entered into QBO.

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