Are you familiar with QuickBooks Desktop used for your accounting activities? However, today, many companies prefer using cloud-based applications. That is why Intuit decided to discontinue QuickBooks Desktop Pro and Premier. After 2024, QuickBooks Desktop Pro and Premier will not be released. It means Desktop version users will not receive functionality and security updates. Moreover, there will be no technical assistance for these users. Thus, the only option for you is to convert QuickBooks Desktop into the new online or move to QuickBooks Enterprise Solution.
Some companies thought of buying a new QuickBooks Desktop application available with different plans like Pro and Premier. But, as it is a costly option, you can Switch to the Online version. The monthly subscription for the online service is affordable.
Why should you consider QuickBooks online?
QuickBooks Online benefits you in different ways-
- QuickBooks Online is more secure, as you can store data in the cloud. So, hackers cannot easily access the data.
- Automatic backup is another reason for choosing QuickBooks Online. You will not lose your important data.
- If you want to access your accounting books anytime, the Online version is the right choice.
- The same file is accessible to multiple users at a time. Thus, your accounting team members can collaborate with each other.
- You can integrate QuickBooks Online with various applications based on your needs.
What are the steps for converting QuickBooks Desktop into QuickBooks Online?
These are the steps to convert QuickBooks Desktop into QuickBooks Online.
Open and access your QuickBooks Desktop file. Hit the F2 key to learn about the target count. You should condense QuickBooks files and lower the target, if the file size is more than 750,000 targets.
Click on the File option and choose Utilities. Tap on the Condense Data. Data can be condensed without affecting transactions.
Consider exporting data from QuickBooks Desktop
Before the conversion of the Desktop version to Online, it is essential to update QuickBooks files. Ensure that you have processed payroll, adjusted inventory, and reconciled bank accounts.
Having a backup is a good idea to avoid any dire consequences. From the File menu, you will find the Back Up Company option. You will then access the button for creating a local backup.
Company files exportation to QuickBooks Online
QuickBooks Desktop will show a prompt to trigger the migration procedure. So, you can click on Get Started to transfer desktop files to your QuickBooks online account. However, if you currently have no online account, the limited free trial offer lets you check the data. You can use the free version for 30 days to see the performance of the platform. You will also learn how your accounting files will be organized in QuickBooks online.
The software will ask if you would like to export all the information or just a particular data (like balances and lists. If any file is damaged or if there are several targets, you may export a definite data.
Moreover, you should decide if you like to import inventory to the Online version.
Export and check for email confirmation
Now, click on the Export option, and the software will show you a screen.
QuickBooks will send you emails when its online version is ready. However, if there is a large file, you have to wait for hours. The email you receive indicates the successful migration process.
Does QuickBooks Online have any limitations?
Before making a conversion to QuickBooks Online, you must learn about its limitations. Although it is less costly than the Desktop edition, you need to pay the subscription charge every month. Depending on your business activities, it can be an advantage or disadvantage.
Furthermore, the QuickBooks Online version does not have every feature found on the Desktop. Besides, the features included in the online edition may vary with the chosen plan. Thus, for inventory management and other features, you have to pay more.
QuickBooks Online versus QuickBooks Desktop
If you compare QuickBooks Online and QuickBooks Desktop, you can decide on whether you should move to the cloud platform.
- QuickBooks Desktop is best for SMBs that prefer a desktop solution or want industry-oriented features. The Online version is perfect if you need a cloud-based solution.
- The maximum number of users for QuickBooks Desktop and Online is 1-40 and 1-25 respectively.
- QuickBooks Online users can deliver email invitations to their accountants from within the application. QuickBooks Desktop users can send their company files’ copies to accountants and import the modifications.
- QuickBooks Online presents you with 4 plans with a limit to the number of users. QuickBooks Desktop can be upgraded to any version. However, it is complicated to convert the data from a particular desktop solution to another. Additional licenses will increase the overall costs.
- QuickBooks Desktop Enterprise and Premier Plus packages have industry-oriented reports. But the Online version only provides a large array of reports.
What you cannot import to QuickBooks Online?
Not everything can be imported to the Online version-
- Reports of reconciliation of credit card and bank accounts. To deal with the reconciliation reports for any purpose, you may access them from the Desktop version.
- You have to cancel the recurring charges for credit cards in the Merchant Center. You can then recreate them in the Online edible by generating the sales receipt.
- Your inventory cannot be transferred from the Mac device. So, if you need access, you may manage the transfer from your Desktop.
- Some other reports in the Desktop edition cannot be imported to the Online version.
Thus, this brief guide will help you convert QuickBooks Desktop to Online.
