- October 4, 2019
- Posted by: Certified ProAdvisor
- Category: Self HelpDesk
Things You Should Know If You Are Converting From QuickBooks Desktop To QuickBooks Online
QuickBooks being one of the most popular accounting software comes in both online as well as offline versions. This is because not every organization has the resources to get the internet running all the time. But, in order to make things simple for those who want to switch from QuickBooks Desktop to QuickBooks Online, the procedure is pretty easy and anyone can follow the steps to get it done.
There are, however, a handful of things that are required to be taken care of after someone has converted from QuickBooks Desktop to Online. This is why in this article, we are going to talk about all the important as well as optional things that you should do once the conversion is done. So, without further ado let’s get right into it.
Move your QuickBooks Desktop file to QuickBooks Online
Through this article you will learn that how you can import your QuickBooks desktop company file to QuickBooks Online.
Below are the quick steps you need to perform:
1. Check the financial reports thoroughly:
Firstly, you need to make sure that the Inventory recalculation is correct. This is because of the fact that in QuickBooks Desktop the entries are not sorted until the user wants to get it presented in a particular manner. Although, in QuickBooks Online, all the transactions are managed in an organized day to day manner. So, to make sure that the entire data is transferred successfully, you should compare and analyze the Balance sheet as well as the Profit and Loss Account on both the modes.
Also, some important things to check for are:
- Comparing Un-deposited Funds and AR balances individually
- Setting the Accounting method to Accrual
2. Setup the Payroll system:
The process of transferring data from QuickBooks Desktop to online does not include factors like payroll and employee year-to-date number. These things are required to be set up manually. So, here are the steps that you need to follow in order to complete the Payroll setup:
Step 1: First, click on the Workers option which is present on the left menu of QuickBooks Online.
Step 2: Now, we need to make sure to mark the “Paid in” column with YES under all the employees who have already been paid. Rest of the employees will be automatically transferred to the list of people who are not paid yet.
Step 3: Select the Complete Payroll Setup Option; here you need to make sure that you verify the heads of employee info and payroll totals.
Step 4: Here, you need to follow all the instructions that are provided under the dialogue box. Once done, click on the Run Payroll button and the setup procedure will be finished.
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3. Linking your existing payment methods:
Another important factor that everybody needs to make sure of doing is linking the Payment methods. This is because of the fact that while converting from QuickBooks Desktop to QuickBooks Online, the details of existing Payment methods are not passed forward. So, you need to create new payment accounts for all the existing ones. This will ensure that the timely payments of the dues are done and you will not have to manually seek the payment of your employees at the end of the month.
4. Selection of Custom Payment types:
It is possible that you end up facing the issues related to the payment types. These problems occur because sometimes the mappings of pay types are not transferred from QuickBooks Desktop to QuickBooks Online.
Thus, it is always recommended to match the payroll terms. So, here are the steps that you need to follow for mapping the QuickBooks Desktop pay types in QuickBooks online:
Step 1: In the QuickBooks Online Column, select the drop-down option which says ‘Choose One.’
Step 2: From the list of Pay types, select the closest match for all the items while referring to the set up in your Desktop File.
Step 3: Once you are through with the particular item, click on the Save and Close option to complete the mapping procedure.
Step 4: You need to repeat step 2 and step 3 for all the items that you need to map the pay types for. Once done, select continue and your setting will be saved in the online cloud.
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These are some of the most basic things that you should do after converting QuickBooks Desktop to QuickBooks Online. This will not only save a lot of your time as well as it will keep you out of any sort of hassle whatsoever related to payments as well as transaction records. So, make sure to get these set up right away.
If you have any query or you need any assistance during or post converting QuickBooks desktop to online, you can contact our 24×7 QuickBooks premier support team and speak to our certified experts.
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