Get answers to frequently asked questions about switching from QuickBooks Desktop to QuickBooks Online.
In this article, you'll learn about:
- General questions about QuickBooks Online
- Importing data to QuickBooks Online
- Your QuickBooks Online account
- Tracking inventory in QuickBooks Online
- Bank rules in QuickBooks Online
General questions about QuickBooks Online
What is a QuickBooks Online account?
QuickBooks Online accounts are completely online and accessed with a web browser. The account and sign-in info are separate from QuickBooks Desktop.
Does QuickBooks Online sync with QuickBooks Desktop?
No, QuickBooks Online is completely independent from QuickBooks Desktop.
Will my accounting data be safe on the cloud?
Intuit takes security very seriously and ensures your data is secure and available to you when it's on the cloud.
Learn about importing data to QuickBooks Online
How long will the migration take?
The migration to QuickBooks Online takes about 30 minutes to complete. Make sure to keep QuickBooks Desktop running until the migration is done.
What happens to my existing data in QuickBooks Desktop?
Nothing changes. We simply copy the data and transfer it to QuickBooks Online. You'll still keep the QuickBooks Desktop company file with your data. Going forward, you'll input new data in QuickBooks Online and you'll keep your old info in QuickBooks Desktop where you left off.
If you have a subscription to QuickBooks Desktop, you can only access your data with an active subscription.
How do I fix errors when converting from QuickBooks Desktop to QuickBooks Online?
If you get an error while moving to QuickBooks Online, refer to these common errors and how to fix them.
How can I verify my data imported correctly?
We handle everything when you import your data and make sure it's accurate. But, it's always good to double check things for accuracy.
Run a Profit and Loss report or a Balance Sheet report in QuickBooks Online and QuickBooks Desktop and compare the two. Refer to the What you do after you migrate section to run the reports and compare everything.
What should I do after migrating to QuickBooks Online?
To ensure a smooth migration, here are some things you should do after converting your QuickBooks Desktop file to QuickBooks Online.
About your QuickBooks Online account
How do I recover my QuickBooks Online account?
If you forgot your QuickBooks Online sign-in, you can reset your sign-in information.
How do I create a new company file in QuickBooks Online?
You can have multiple companies under your QuickBooks Online account. Each company you add needs to be a separate paid subscription. But you'll access them all with the same login info. Here's how to add or create a new company.
Can I subscribe, then choose another plan later?
As your business grows, QuickBooks grows with you. When it's time for new features, QuickBooks makes it easy to upgrade your subscription. Here's how to do it.
About tracking inventory in QuickBooks Online
What's the difference between FIFO and average cost inventory methods?
QuickBooks Desktop uses Average Costing to track inventory costing. In QuickBooks Online, things are a little different. QuickBooks Online uses First-In, First-Out (FIFO).
Learn more about the FIFO accounting.
How will changing inventory methods impact my business?
QuickBooks Online calculates inventory costs from the inventory start date using FIFO. Any existing transactions on or after this date are also recalculated under FIFO.
Because of this, we recommend choosing an inventory start date using the first day following your company's last tax filing period to avoid filing amended forms.
You'll also need to let the CRA know you've changed your inventory costing method.
Learn more about what you need to do after changing inventory methods.
What do I need to do if I don't bring over my inventory?
If you prefer not to use FIFO or turn on inventory in QuickBooks Online, select No, don't turn on inventory and don't track quantity on hand during the conversion. You can change these settings later, but if you do, you'll need to set up new inventory items. We recommend that you reach out to a tax professional if you need help with this decision.
Does inventory work the same in QuickBooks Online as QuickBooks Desktop?
The most important thing to be aware of when moving from QuickBooks Desktop to QuickBooks Online is that QuickBooks Desktop uses average cost to calculate your inventory costs. QuickBooks Online uses FIFO.
Learn more about moving your inventory from QuickBooks Desktop.
About bank rules in QuickBooks Online
Do bank rules work the same in QuickBooks Online as QuickBooks Desktop?
Bank rules work similarly in QuickBooks Online as they do in QuickBooks Desktop. If you migrated your data from QuickBooks Desktop, learn how bank rules differ in QuickBooks Online.