However, users may need to manually adjust the account if discrepancies arise. 

In this article, you’ll learn how to adjust retained earnings in QuickBooks Online and Desktop and better understand their importance in your financial strategy. Let’s dive in!

How to adjust retained earnings in QuickBooks Online

QuickBooks Online does not allow direct transactions to the Retained Earnings account, so adjustments must be made using an equity adjustment account via a journal entry. Make sure to do this with care and always back up your account before making changes.

Here are the steps to adjusting retained earnings in QBO:

1. Open “Reports,” select “Balance Sheet,” set the date range, and locate “Retained Earnings” under “Equity.”
2. Run a Profit and Loss Report to verify that net income correctly rolled into retained earnings.

Image credit: CustomGuide

3. (Optional) Run the General Ledger Report, filter for Retained Earnings, and review related transactions.
4. Click “+ New,” select “Journal Entry,” and set the appropriate date.
5. Choose an equity adjustment account (not Retained Earnings) in the “Account” field.
6. Enter a debit if reducing retained earnings or a credit if increasing it.
7. Add a memo for reference and attach supporting documents if necessary.
8. Click “Save and Close” to record the journal entry.

Image credit: Intuit QuickBooks

9. Re-run the Balance Sheet Report to confirm the updated Retained Earnings balance.
10. Check the General Ledger for the recorded adjustment.

Tip: Avoid posting directly to retained earnings, document adjustments thoroughly, and consult an accountant if correcting prior-year financials.

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How to adjust retained earnings in QuickBooks Desktop

Similarly to Online, adjusting retained earnings in QuickBooks Desktop is only possible through the use of journal entries. 

Step 1: Create adjusting journals

1. Open QuickBooks Desktop and log in to your company file.
2. Go to the “Company” menu and choose “Make General Journal Entries”.

Image credit: Intuit QuickBooks

3. Set the appropriate date for the journal entry to ensure it aligns with the correct reporting period.
4. In the “Account” field, select an appropriate equity adjustment account (such as an “Owner’s Equity” or “Prior Period Adjustment” account).
5. Enter the necessary debit or credit amount to increase or decrease the retained earnings balance.
6. Provide a brief memo explaining the reason for the adjustment for clarity and future reference.
7. Click “Save & Close” to finalize the changes.

Taking these steps helps your business maintain clean, reliable financial records that are ready for audits and financial reviews.

Step 2: Editing the beginning retained earnings balance

Adjusting the beginning balance of retained earnings should only be done in specific cases, such as fixing an error from a prior year or aligning your records with audited financial statements. 

To make this adjustment, create a journal entry that adjusts prior period accounts, such as income or expense accounts.

Thoroughly document the reason for the change to maintain a clear and accurate audit trail. 

Step 3: Troubleshooting retained earnings discrepancies

Discrepancies in retained earnings can happen for various reasons, and identifying the root cause will help you resolve them. Below are some common issues that may impact retained earnings:

• Unrecorded transactions: Missing or incorrectly posted entries can alter net income, directly affecting retained earnings.
• Errors in prior period adjustments: Mistakes made during adjustments for previous periods can carry over, causing inaccuracies in current balances.
• Incorrect closing entries: Errors during the year-end closing process can result in skewed retained earnings figures.
• Misclassified accounts: Transactions assigned to the wrong accounts can disrupt the accuracy of financial records, and impact retained earnings calculations.

Carefully review your financial statements, run reports, and correct these issues to make sure that your retained earnings are accurate and aligned with your business’ actual financial position.

The importance of retained earnings in financial reporting

Retained earnings are the portion of a company’s profits that are not distributed as dividends but kept within the business. Retained earnings: 

• Provide resources for reinvestment.
• Help stabilize operations.
• Increase investor confidence. 

However, retained earnings can also be negative if a company has accumulated losses over time. This is known as an accumulated deficit and can indicate financial instability.

How retained earnings influence business decisions:

Supporting growth

Retained earnings allow businesses to invest in expansion, purchase equipment, and develop new products, helping them scale effectively.

Managing debt

Companies can use retained earnings to pay down debt, reduce financial liabilities, and improve their overall financial position.

Safeguarding stability

Retained earnings act as a financial buffer during tough times and against unexpected expenses, helping businesses remain resilient and maintain smooth operations.

Building stakeholder confidence

A strong retained earnings balance shows that your business is profitable and financially stable, which can attract investors, reassure lenders, and build trust with stakeholders.

Understanding how important retained earnings are for growth, stability, and trust helps you make smarter financial and strategic choices.

Calculating retained earnings in QuickBooks

Calculating retained earnings in QuickBooks is straightforward, thanks to the platform’s built-in features that automatically track and update this account. Follow these steps to understand and calculate your retained earnings:

1. Run a profit and loss report:
   • Navigate to the “Reports” menu in QuickBooks.
   • Select “Profit and Loss” and set the date range to cover the relevant accounting period.
   • Note the net income (or loss) for the selected period, as this directly impacts your retained earnings.
2. Generate a balance sheet report:
   • Return to the “Reports” menu and select “Balance Sheet”.
   • Ensure the date is set to the current financial period.
   • Locate the “Retained Earnings” account in the equity section to see its current balance.

Image credit: Intuit QuickBooks

3. If an adjustment is required, enter a journal entry using an equity adjustment account:
   • Add the net income (or subtract the net loss) from the profit and loss report.
   • Subtract any dividends or owner distributions made during the period.
4. Review the results:
   • Cross-check the updated retained earnings balance with the balance sheet to confirm accuracy.
   • If discrepancies exist, revisit the Profit and Loss and Balance Sheet reports to ensure no transactions were missed or misclassified.

Following these steps gives you a clear picture of your retained earnings in QuickBooks. But again, remember that QuickBooks automatically rolls net income into retained earnings, so you should not attempt to manually adjust the retained earnings balance unless correcting errors.

Retained earnings vs. net income in QuickBooks

Retained earnings and net income are both important to understanding your business’ financial performance, but they serve different purposes in accounting. Net income is the profit or loss your business earns over a specific period, calculated as revenue minus expenses. This is done at the end of an accounting period (e.g., monthly, quarterly, or annually).

Retained earnings, on the other hand, are the cumulative total of net income that your business retains or keeps after distributing dividends to shareholders or owners over multiple periods. These retained earnings are reinvested into the company to support growth, pay off debts, or serve as a financial buffer in case of an emergency. 

In QuickBooks, net income flows into the retained earnings account at the end of each fiscal year. If dividends are issued, they reduce retained earnings but do not affect net income.

Differences and similarities between retained earnings and net income in QuickBooks:

When you get a grasp of the differences and the relationship between the two terms, you can interpret your financial reports more effectively and make better-informed decisions about reinvesting profits or managing distributions.

How to manage retained earnings in QuickBooks efficiently

To review, accurate data entry, regular monitoring, and financial planning keep retained earnings up to date in QuickBooks. Use reports like the Profit and Loss Statement and Balance Sheet to track changes. Document any adjustments with clear memos for an audit trail, and review retained earnings annually to align with business goals. 

Here are a few more best practices to manage QuickBooks retained earnings.

Regular reconciliation

Regular reconciliation of retained earnings helps you quickly identify and correct discrepancies by cross-checking your retained earnings account against your profit and loss statements and balance sheets. 

This will keep the integrity of your financial statements and simplify audits and tax filings, giving you confidence that your records reflect your business’ actual financial position.

Annual analysis of ongoing trends

Review year-over-year retained earnings to assess the impact of: 

• Reinvestments.
• Debt payments.
• Distributions. 

This analysis helps you understand whether your retained earnings strategy aligns with your long-term goals, such as funding expansions or maintaining financial reserves for unexpected situations.

Setting benchmarks for optimal values

Define retained earnings benchmarks based on: 

• Industry.
• Company size.
• Growth stage. 

For example, startups may reinvest earnings for growth, while established businesses might prioritize maintaining financial reserves. Clear benchmarks help balance reinvestments and distributions for sustainable financial stability.

Key takeaways

• Retained earnings represent the cumulative profits reinvested in your business and are important for financial health and strategy.
• Adjusting retained earnings in QuickBooks involves creating journal entries and reconciling discrepancies.
• Regular reconciliation and analysis of retained earnings trends are essential for maintaining accurate records and making informed decisions.
• QuickBooks automatically calculates retained earnings during the year-end close, simplifying bookkeeping and reporting.

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How to adjust retained earnings in QuickBooks FAQs

What should I do if the retained earnings in QuickBooks are incorrect?

If you’re retained earnings in QuickBooks are incorrect, first identify the discrepancies by reviewing your balance sheet and general ledger. Then, correct the errors by creating adjusting journal entries. As a final step, make sure to review your books and consider consulting with an accountant to ensure accuracy.

What is a correcting entry for retained earnings?

A correcting entry adjusts retained earnings to fix errors from prior periods or reflect changes in accounting estimates. These entries are typically recorded as journal entries.

How do you treat retained earnings in accounting?

Retained earnings are treated as part of a company’s equity and appear on the balance sheet. They are adjusted annually to reflect net income and dividends, supporting financial reporting and decision-making.

The post How to adjust retained earnings in QuickBooks appeared first on Method.

In this article, you’ll learn how to delete journal entries in QuickBooks, whether you’re using the Online or Desktop version. You’ll also learn how to reverse an entry when it’s a more suitable option, along with tips for efficiently managing your journal entries.

Let’s get started!

Steps to take before deleting QuickBooks journal entries

Before we get into the step-by-step process of deleting journal entries in QuickBooks, here are some precautions you’ll need to take:

1. First, create a backup of your QuickBooks data before making any changes to your records. 
2. Request “Full Access” (Desktop) or “Admin Access” (Online). You can only delete journal entries with full permissions. 
3. Review your company’s audit trail settings to ensure that you can monitor changes for compliance or reporting purposes.
4. Review the impact of the journal entry you want to delete on your financial records. Ensure the deletion won’t lead to discrepancies or errors in your reporting.
5. Consider reversing the entry instead of deleting it, especially if it was an error.

How to delete journal entries in QuickBooks Online

1. Open QuickBooks Online and log into your company file.
2. Click on the gear icon in the upper right corner.
3. Under “Your Company,” select “Chart of Accounts.”

Image credit: Intuit QuickBooks

4. Find the account associated with the journal entry you want to delete.
5. Click “View register” in the Action column for that account.
6. In the account register, locate the journal entry. The word “Journal” should be in the “Ref No.” or “Type” column.
7. Click on the journal entry to expand the view.
8. At the bottom of the expanded transaction, select “Delete.” You can also do this from the individual entry by clicking “More,” and then “Delete.”

Image credit: Intuit QuickBooks

9. A confirmation prompt will appear. Click “Yes” to proceed with deleting the journal entry.
10. After deletion, review your financial reports to ensure that the deletion did not cause any issues or discrepancies in your balance sheet or profit and loss statements.

How to delete journal entries in QuickBooks Desktop

1. Open QuickBooks Desktop and log into your company file.
2. Navigate to the Chart of Accounts:
3. From the top menu, select “Company”, then choose “Make General Journal Entries.”

Image credit: Intuit QuickBooks

4. In the “General Journal Entries” window, select “Find” and enter the Name, Date, Entry No., or Amount—then click “Find.”
5. Once you see your desired journal entry, double-click it.
6. Select “Delete” or “Void.”
7. A confirmation prompt will appear. Click “OK” to proceed with deleting the journal entry.
8. After deletion, review your financial reports to ensure that the deletion did not cause any issues or discrepancies in your balance sheet or profit and loss statements.

Clear journal entries

You should clear entries when they are tied to processed transactions, like payments or receipts, that match your bank statement and need to stay in your records for reconciliation. On the other hand, you should delete entries when they contain errors, such as incorrect amounts or duplicate transactions, to maintain accuracy.

To make the right call, consider the context of each entry. Note that deleted entries require closer inspection to ensure their removal won’t disrupt your financial statements. 

To clear a journal entry in QuickBooks, take the following simple steps:

1. Perform the steps above to view your journal entries.
2. Double-click on your chosen entry to open it. 
3. Ensure that the entry corresponds to a cleared transaction that has already been verified against your bank statement or credit account.
4. Mark the entry as cleared by checking the box under the “Clr” column in QuickBooks Online or by changing the status from “N” (not cleared) to “C” (cleared) in the “Clr” column in QuickBooks Desktop.
5. Click “Save & Close” or “Save & New” to update the transaction.
6. If you’re reconciling your bank account, go to the “Reconcile” screen in QuickBooks and verify that the cleared journal entry is properly accounted for in the reconciliation process.
7. Check your bank reconciliation and financial reports to ensure that the transaction appears correctly and the balances are accurate.

Reverse journal entries

Reversing a journal entry in QuickBooks is a simple way to correct an error while keeping your financial records transparent and intact. Instead of deleting the original entry, which removes it completely, reversing creates a new entry that cancels out the impact of the previous one. This approach is particularly useful for fixing mistakes like incorrect amounts or misclassified accounts while preserving your complete view of your transaction history. 

To reverse a journal entry in QuickBooks: 

1. Follow the steps above to access your list of journal entries.
2. Create the reversing journal entry:
   • QuickBooks Online: Create a reversing journal entry by clicking “More” at the bottom of the journal entry window and selecting “Copy” to create a duplicate. Then, change the date and update the amounts so that the debit amount is in the credit field and vice versa. 
   • QuickBooks Desktop: Open the journal entry, go to the “Edit” menu, and select “Reverse Journal Entry.” QuickBooks will automatically swap the debits and credits.
3. Double-check the reversed journal entry to ensure that the amounts and accounts are correct. Also, ensure that the date matches the intended reversal period.
4. Click “Save & Close” or “Save & New.”
5. Check your financial reports to ensure that the original and reversed entries are properly reflected.

When should you delete journal entries?

Delete journal entries only when they were made in error and don’t impact financial reporting. Common reasons include: 

• Incorrect dates.
• Wrong accounts. 
• Duplicates.
• Placeholders not meant for final records. 

Proper deletions keep your books accurate, but removing the wrong entries can cause reporting discrepancies, reconciliation issues, and audit complications. To avoid risks, consider reversing entries instead of deleting them.

Deleting different types of journal entries

Not all journal entries should be deleted, as each type plays a key role in financial reporting. Here’s when deletion may be necessary and what to consider:

• General journal entries: Record adjustments, corrections, or transfers between accounts. Delete only if entered incorrectly, ensuring it doesn’t impact account balances.
• Adjusting journal entries (AJEs): Used at the end of an accounting period to update accrued expenses, depreciation, or prepaid assets. Deleting can distort financial reports, so reversing is usually the better option.
• Recurring journal entries: Automate routine transactions like rent or utilities. Delete if they’re no longer needed, but check for upcoming scheduled entries to avoid unintended gaps.
• Payroll journal entries: Track employee wages, taxes, and benefits. Deleting can cause payroll discrepancies and tax reporting issues; instead, make corrections through payroll adjustments.
• Closing journal entries: Finalize revenue and expense accounts at year-end, transferring balances to retained earnings. These should never be deleted, as they are crucial for accurate financial statements.

Before deleting any journal entry, confirm it won’t disrupt reconciliations, financial reports, or tax compliance. Again, when in doubt, reversing the entry is often the safer option.

Managing multiple journal entries

QuickBooks doesn’t allow batch deletion of journal entries—each must be reviewed and deleted individually to ensure accuracy. However, you can simplify the process using built-in tools:

• QuickBooks Online: Filter transactions by date, amount, or type for faster entry identification.
• QuickBooks Desktop: Use the “Find” feature to locate specific entries.
• Both platforms: Use bank feeds and reconciliation tools to identify entries needing deletion.

For frequent deletions, third-party apps offer batch deletion, but always review changes and back up data to prevent errors. These apps can be faulty, so taking these precautions is an absolute necessity.

Deleting a specific line in a journal entry

Sometimes, you may need to delete a single line in a journal entry instead of the entire entry in QuickBooks. Here’s how to do it:

How to delete a journal entry line in QuickBooks Online

1. Go to “Accounting,” then “Chart of Accounts.”
2. Click “View Register.” 
3. Locate and open the journal entry. 
4. Identify the line to delete, then click the trash can icon. 
5. Ensure the entry remains balanced and click “Save.”

How to delete a journal entry line in QuickBooks Desktop

1. Go to “Lists,” then “Chart of Accounts.”
2. Open the account register. 
3. Find and open the journal entry. 
4. Select the line, go to “Edit,” and choose “Delete Line,” or use Ctrl + Delete. 
5. Verify the balance and click “Save & Close.”

Note: Deleting a line in a journal entry can unbalance your records, as each line represents a debit or credit. QuickBooks won’t save the entry until the balance is restored.

Deleting a recurring journal entry

A recurring journal entry in QuickBooks automates routine transactions like rent, utilities, and accruals, reducing manual effort and errors. Before you delete anything, check the impact on future postings, adjust past transactions, and back up your data to prevent discrepancies.

If you’re certain about deleting a recurring journal entry, here’s how to do it:

How to delete a recurring journal entry in QuickBooks Online

1. Click the gear icon.
2. Select “Recurring Transactions.”
3. Find your chosen journal entry. 
4. Click “Edit,” then “Delete.” 
5. Confirm the deletion.

How to delete a recurring journal entry in QuickBooks Desktop

1. Go to “Lists,” then “Recurring Transactions.” 
2. Select the journal entry and open it. 
3. Navigate to “Edit” and choose “Delete.” 
4. Confirm the deletion.

Tips to follow to avoid journal entry deletion mistakes

Here are some practical tips and best practices to avoid common mistakes when deleting journal entries in QuickBooks:

• Back up your data before deleting any journal entries to prevent irreversible errors.
• Double-check entries to confirm they are mistakes and not essential records.
• Never delete reconciled entries, as this can cause discrepancies in your financial reports.
• Consider reversing instead of deleting if you need to correct an error while maintaining transparency.
• Review financial statements after deletion to ensure accuracy in your balance sheet and profit and loss reports.
• Keep a record of deletions for audit purposes and future reference.
• Delete only when necessary and during off-hours to avoid disrupting system users or ongoing reports.

Key takeaways

Deleting journal entries is sometimes your only option to put your financial records in proper shape. Remember to:

• Get “Full Access” (Desktop) or “Admin Access” (Online) to delete a journal entry.
• Back up your data before adjusting or deleting any journal entry.
• Ensure a reversal cannot fix an entry before deleting.
• Consider using a third-party tool if you need to delete multiple journal entries frequently.
• Consider the journal entry type, as different types may require slightly different considerations.
• Always double-check your records after deleting and entering to ensure things remain intact.

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How to delete journal entries in QuickBooks FAQs

Can you mass delete journal entries in QuickBooks Online?

No, QuickBooks Online doesn’t allow mass deletion of journal entries. You must delete them individually, but filtering by date or amount can help speed up the process. Third-party apps may offer batch deletion.

Can I see deleted journal entries in QuickBooks Online?

No, once deleted, journal entries are permanently removed from your records. However, the Audit Log tracks deletions, showing who deleted an entry and when—but not the full details of the deleted transaction. To access it, go to the gear icon, click “Audit Log,” and filter by “Delete.”

Which accounts cannot be deleted in QuickBooks Online?

System accounts like Bank Accounts, A/R, A/P, Opening Balance Equity, and Retained Earnings cannot be deleted to maintain financial integrity. While you can deactivate unused accounts, deleting accounts with historical transactions could disrupt reports and compliance.

The post How to delete journal entries in QuickBooks: Complete guide appeared first on Method.

Merging vendors in QuickBooks organizes your records and helps prevent confusion during invoicing, reporting, and tax filing. 

In this article, you’ll learn how to merge vendors in QuickBooks to ensure your vendor list remains clean and up to date. Let’s get started.

What is merging vendors in QuickBooks?

Merging vendors in QuickBooks is the process of combining two or more vendor profiles into a single entry. This is necessary when you have duplicate vendor records, often caused by slight variations in how you enter information (like different spellings of a company name or separate entries for the same business under different contact details). Over time, these duplicates clutter your system, making it harder to track transactions, pay bills, and generate accurate reports. 

Merging vendors consolidates all transactions and payments for a specific vendor into a single profile. This: 

• Helps eliminate confusion.
• Ensures your financial data remains clean and accurate.
• Simplifies your accounts payable management. 

Steps for how to merge vendors in QuickBooks

Now that we understand what merging vendors means, let’s walk through the steps to: 

• Identify duplicate vendor profiles.
• Verify their details.
• Consolidate them into a unified profile.

QuickBooks Online

QuickBooks Online simplifies vendor management by helping you track payments, bills, and purchases. You can easily add, edit, and organize vendor details. 

Identifying duplicate vendors

To search for and identify duplicate vendors in QuickBooks Online:

1. Open your QuickBooks Online account and navigate to the dashboard.
2. From the left-hand menu, click “Expenses” and select “Vendors” to access your vendor list. 
3. Use the search bar at the top of the vendor list to type in the vendor name you suspect may have duplicates.
4. Scan through the list for vendors with similar but not identical names. These may include slight spelling differences, abbreviations, or extra spaces.
5. Click on each vendor’s name to open their profile. Compare contact information, addresses, and transaction history to confirm if they are duplicates.

Image credit: Rex Jacobsen

Merging duplicate vendors

After identifying duplicate vendors, the next step is to merge them. Here’s how to go about that:

1. Decide which vendor profile you want to keep as the main entry.
2. Open the duplicate vendor profile and click on “Edit.”
3. Change the display name of the duplicate vendor to exactly match the name of the primary vendor.

Image credit: Intuit QuickBooks

4. Click “Save” to update the vendor. QuickBooks Online will automatically merge the two vendor profiles, transferring all transactions from the duplicate vendor to the primary vendor.
5. Return to the vendor list to ensure the duplicate entry has been removed and all transactions are correctly consolidated under the primary vendor profile. 

Note: QuickBooks Online only lets you merge up to four vendors at a time.

Updating transactions and information

Although the vendors have been merged, your job isn’t quite done yet. You still need to verify that all transactions and information were merged as well. To do that:

1. Check the transaction history of the primary vendor to ensure that all payments, bills, and credits from the duplicate vendor have been transferred correctly.
2. If the duplicate vendor had any open balances or unpaid bills, ensure they are now reflected under the primary vendor’s account. You may need to adjust any discrepancies manually.
3. If the duplicate vendor had different payment methods or bank account details, update the primary vendor’s profile with this information, if necessary.
4. Ensure that any linked transactions, such as invoices or purchase orders, are now correctly associated with the primary vendor. If any are still linked to the duplicate, update them to reflect the primary vendor.
5. Review your accounts payable and related reports to ensure everything is accurate and balanced. This will help catch any missing or incorrect transactions.
6. Ensure that the primary vendor profile contains all relevant details and combines the data from both vendors, including:
   • Contact information.
   • Tax ID.
   • Payment terms.
7. Finally, run updated reports, such as the Vendor Balance Detail report, to confirm that everything is correctly merged and that all data is accurate.

QuickBooks Desktop

QuickBooks Desktop offers similar vendor management features as QuickBooks Online, letting you create and organize vendor profiles, record bills, make payments, and generate reports. To merge vendors on QuickBooks Desktop:

Open the Vendor Center

1. Launch your QuickBooks Desktop application. 
2. On the top menu bar, click on the “Vendors” tab.
3. From the drop-down menu, select “Vendor Center.”
4. The Vendor Center will open, displaying a list of all your vendors, where you can add, edit, or manage vendor information.

Image credit: PNATC

Identify duplicate vendors

1. In the Vendor Center, use the search bar at the top to search for vendor names you suspect might have duplicates. 
2. Look for vendors with similar names, slight spelling differences, or variations in contact details.
3. Click on each vendor’s name to open their profile and compare details such as addresses, contact information, and transaction history to confirm duplicates. 
4. Check if the vendors have overlapping transactions or bills, which could indicate they are duplicates.
5. Once identified, make a list of the vendors you believe are duplicates.

Note: If you’re using the Accountant or Enterprise version of QuickBooks Desktop, note that there is a specific “Merge Vendors” button once you’ve identified duplicates.

For Accountant:

1. Go to “Accountant.” 
2. Select “Client Data Review.”
3. Click “Merge Vendors.”

 For Enterprise:

1. Go to the “Company” tab. 
2. Select “Accounting Tools.”
3. Click “Merge Vendors.” 

Edit the vendor to be merged

1. Click on the vendor name you want to edit (typically the duplicate vendor that you want to merge into the primary one). 
2. In the vendor’s profile, click the “Edit” button in the bottom right corner. 
3. This will open the edit window where you can see the vendor’s details. 

Image credit: Treasury Software

Modify vendor name

1. In the edit window, go to the “Vendor Name” field and update the name to exactly match the primary vendor’s name. This ensures both profiles align correctly for merging.
2. After updating the name, click “OK” or “Save & Close” to save your changes.
3. Double-check that the vendor name now matches the primary vendor’s name and is ready for merging.

Confirm changes

1. If necessary, make any last-minute changes to the vendor details, ensuring they match the primary vendor’s profile.
2. Once satisfied with the details, click “OK” or “Save & Close” to finalize the edits.
3. Review the updated vendor profile to verify that QuickBooks applied all changes correctly and that the details are consistent with those of the primary vendor account.
4. If there are other duplicate vendors, repeat the steps to edit and confirm their details before merging.

Verify vendor list

Having completed your modifications, it’s time to ensure everything adds up. To verify the updated vendor list:

1. Click on the “Vendors” menu at the top, then select “Vendor Center.”
2. In the Vendor Center, scroll through your list of vendors to check that you’ve correctly updated all details for each vendor.
3. Use the search bar to locate specific vendors you’ve edited or merged. Ensure their names, addresses, and other details are accurate and consistent. 
4. Look for any remaining duplicates or inconsistencies in vendor names or information. If you find any, address them by editing or merging as needed. 
5. Click on individual vendor profiles to confirm that their transaction history (bills, payments, refunds, etc.) properly matches to the primary vendor. 
6. Generate reports such as the “Vendor Contact List” or “Vendor Balance Detail” to ensure that all information is accurate and that no entries are missing or duplicated.
7. Double-check the balances for each vendor to ensure there are no discrepancies after merging.
8. Once everything appears accurate, save any changes and ensure your vendor list is up to date and ready for use.

Essential considerations when merging vendors in QuickBooks

When merging vendors in QuickBooks, you need to pay careful attention to ensure you combine the right profiles and accurately transfer all relevant data. Here are some essential considerations to help you avoid errors and ensure a smooth vendor merge process. 

Back up your data

Always create a backup of your QuickBooks company file before making any changes, including merging vendors. Doing this:

• Protects against mistakes, allowing you to revert to the original data if there are errors during the merging process.
• Preserves data integrity, ensuring all transactions and vendor details remain intact, even if they are unintentionally altered or lost.
• Avoids permanent changes, protecting your financial records from becoming compromised if your team makes any mistake. 

Review transactions

Before you merge vendors in QuickBooks, carefully review all transactions associated with them. This helps ensure that you don’t lose or incorrectly transfer any important financial data. Reviewing transactions helps you: 

• Ensure you’ve correctly transferred all transactions to the primary vendor profile.
• Account for open bills or payments associated with the duplicate vendor.
• Prevent lost or duplicated transactions during the merge process.
• Ensure that you’ve linked all associated transactions, such as purchase orders or credit memos, to the correct vendor profile.
• Confirm that reports like accounts payable or vendor balance details remain accurate post-merge.

Custom fields

When merging vendors in QuickBooks, consider how to handle custom fields. Custom fields are unique data fields that businesses use to track specific vendor information, such as contract numbers or special payment terms. 

Since QuickBooks merges vendor profiles based on the name and primary details, custom fields from the duplicate vendor profile may not automatically transfer to the primary vendor profile. So it’s a good practice to manually transfer any vital information stored in custom fields to the primary vendor’s profile before merging. 

This ensures that you don’t lose any critical details unique to the duplicate vendor. After merging, review the primary vendor profile to verify that QuickBooks has correctly carried over all custom field data.

Why do you need to merge vendors in QuickBooks?

Merging vendors in QuickBooks has a couple key perks. It helps keep your data accurate and makes handling vendors easier. When you combine duplicate vendor profiles, you cut out confusion in your records and ensure that all your transactions and payments connect to one vendor account. 

You’ll notice fewer mistakes, such as missed payments or double bills. This also helps you better see what each vendor is doing. Plus, with less clutter in your vendor list, managing your accounts payable becomes a breeze. You’ll find that creating reports is simpler and more dependable. In the end, this saves time and makes your financial management smoother.

Key takeaways

• Merging vendors consists of combining two or more vendor profiles into a single entry.
• The vendor merging process in QuickBooks Desktop differs slightly from that of QuickBooks Online.
• Always back up your QuickBooks company profile before initiating a merge process.
• Confirm consolidation of transactions and information after merging vendors.

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How to merge vendors in QuickBooks FAQs

Can I undo a vendor merge in QuickBooks?

Unfortunately, once you complete a vendor merge in QuickBooks Online, you cannot undo it. This is why it’s crucial to carefully review all vendor details and transactions before merging. That said, in some versions of QuickBooks Desktop, there is a limited window of time during which you can use the “Undo” feature to reverse a merge.

Can I merge vendors with different currencies?

QuickBooks does not allow you to merge vendors that have different currencies assigned to them. QuickBooks links each vendor to a specific currency, and requires that both vendors involved in the merge share the same currency. If you attempt to merge vendors with different currencies, you’ll receive an error message and won’t be able to complete the process. To resolve this, you would need to manually adjust the currency settings or re-enter vendor information to ensure consistency before merging. 

Can I merge a vendor with a customer in QuickBooks?

No, QuickBooks does not allow you to merge a vendor with a customer. QuickBooks treats vendors and customers as separate entities within the system, each with its own set of features and transactions. Merging them could cause confusion in your records, as vendors typically deal with accounts payable, while customers are linked to accounts receivable. 

The post How to merge vendors in QuickBooks: A step-by-step guide appeared first on Method.

• Fixing mistakes.
• Making tax adjustments.
• Updating reconciliations from past entries.

In this article, you’ll learn how to import accountant changes in QuickBooks Desktop to keep everything accurate and up to date. By the end, you’ll be prepared to handle these imports like a pro.

What are accountant changes in QuickBooks?

Accountant changes are basically those tweaks, adjustments, or fixes your accountant makes to your books. For QuickBooks Online, these changes are made by an “Accountant User” and do not require an import, as everything is hosted in the cloud.

For Desktop, accountant changes typically require the “Accountant’s Copy” feature, which lets accountants make changes to your company file while you continue working on their own copy.

Image credit: QBK Accounting

Of course, with two copies, there will be discrepancies. So, once your accountant completes their adjustments, you can import them to reflect the changes on your main QuickBooks file.

These edits usually come right after they have reviewed your financial records and noticed a few things that weren’t quite correct. They might include:

• Reconciliations: Making sure your bank statements line up perfectly with your QuickBooks records.
• Tax adjustments: Fixing anything that would impact your tax filings, like moving expenses into the right categories. 
• Journal entries: Adjusting older transactions to fix mistakes or account for things like accruals. 
• Category changes: Reclassifying expenses or payments into the right buckets and categories for more accurate reporting.

These changes are key to keeping your financial records accurate, staying on the right side of the IRS, and ensuring that all your financial reports accurately reflect what’s happening financially in your business.

5 steps to import accountant changes in QuickBooks Desktop

Importing accountant changes into QuickBooks Desktop is a straightforward enough process, but taking the time to do it carefully means your records will stay as accurate and audit-ready as your accountant intended. Here’s a step-by-step guide to handle it:

Step 1: Prepare for import

Before you start, you’ll need to prepare your company file. A little preparation goes a long way, and in the case of QuickBooks, it will save you a lot of issues down the road.

Key preparation steps:

• Coordinate with your accountant: Make sure you’re on the same page about any changes being made and whether a second glance is required before the import.
• Back up your company file: Don’t skip this step. If something goes wrong during the import, backing up your company file will be a lifeline when restoring the data.

Here’s how to back up your company file in QuickBooks Desktop:

1. Open QuickBooks Desktop.
2. Go to the “File” menu.
3. Select “Back Up Company” and then click “Create Local Backup”.
4. Pick where you want to save the backup on your computer.
5. Click “Save” to complete the backup.

Image credit: Intuit QuickBooks

Once the backup is saved, you can move on to the next step.

Tip: It’s good practice to store the backup in several places. One instance on your computer is fine, but it’s smart to leverage additional media storage like a flash drive, as well as using your Network Attached Storage (NAS) or a cloud-based file storage tool. Ask your IT team for help if needed.

Step 2: Access the company file

Now is the time to pull up your company file so you can start the import. This ensures you’re working with the correct file.

Here’s how to access your company file:

1. Go to the “File” menu at the top-left corner of the screen.
2. Select “Open or Restore Company” from the menu.
3. Find and open the file you want to work on. Double-check it to make sure you have selected the right one.

Step 3: Start the import process

Now, it’s time to import the changes your accountant made and sync them with your QuickBooks Desktop records. 

To initiate the import process:

1. Click on the “File” menu at the top-left of the screen.
2. From the dropdown, select “Utilities”.
3. Click “Import” and then choose “Accountant Changes.”
4. You’ll be prompted to locate the .QBY file (the file your account will have sent with their changes).

Image credit: WizExpert

How to choose and import the accountant changes:

1. Find the .QBY file on your computer (the one your account sent you).
2. Select the file and follow the instructions on the screen to start the import.
3. QuickBooks Desktop will check the file to make sure it’s compatible with your company file, and if everything checks out, the import will start.

This part might take a few minutes, depending on the size of the file, and how many changes your accountant made. Be patient while it’s being imported, as it’s common for the progress to stall from time to time.

Step 4: Review and accept changes

Once the import finishes, QuickBooks Desktop will show you a list of your accountant’s changes. This is your final chance to review everything and make sure you’re happy before it gets added to your records.

To review and accept accountant changes:

1. Check the summary: You’ll see a breakdown of the changes, such as adjustments to journal entries, reclassifications, or reconciliations. 
2. Go through each change: If something doesn’t add up or looks off, don’t hesitate to contact your accountant to discuss it.
3. Approve or reject changes: After reviewing, decide whether or not to accept or reject each adjustment. 

Taking a moment to review each and every change now will save you from dealing with adjustments and mistake-fixing later.

Step 5: Stay connected with your accountant

Your accountant plays a key role in keeping your finances in top shape, so it’s a good idea to maintain communication during the import process.

Here’s how to stay connected:

1. Ask questions: If something isn’t clear, don’t hesitate to contact your accountant before approving any changes.
2. Use QuickBook Notes: The Notes feature in QuickBooks Desktop lets you flag anything quickly that you want to discuss or clarify with your accountant.
3. Set a regular review schedule: If you’re importing changes every month or quarter, schedule a quick Zoom call or meeting ahead of time to go over everything together.

Once you’re on the same page as your accountant, accept the changes and integrate them into your QuickBooks file. Keeping communication open helps you address issues quickly, understand why adjustments were made, and, most importantly, ensure that all financial records stay accurate and compliant. 

Tips for seamless collaboration when importing accountant changes

Working more closely with your accountant makes the process of importing changes into QuickBooks much less stressful. Here are a few ways to keep collaborating and stay in your accountant’s good books:

Establish clear communication

Decide together upfront how and when changes will happen. Will you review everything before it’s imported? Or will you take a look at it afterward? Setting clear expectations will save you both a lot of time and frustration.

Agree on a timeline

Setting schedules for when changes are to be made and imported into QuickBooks is the best way to avoid last-minute surprises and keep your day-to-day bookkeeping on track. 

Use the “Notes” feature in QuickBooks

Both QuickBooks Online and Desktop have a Notes feature. Use it to leave comments and provide useful context for your accountant. These can be about specific transactions or areas that need a little extra attention. It’s one of the best ways to keep on the same page.

Regularly reconcile your accounts

Regular reconciliation in QuickBooks is one of the easier ways to keep records clean and make your accountant happy by reducing the adjustments that they need to make. 

Here’s a quick step-by-step, but for a more detailed guide, we have a more in-depth article here.

1. Log in to QuickBooks and select “Reconcile” from the “Accounting” or “Tools” menu. 
2. Pick the bank or credit card account you need to reconcile from the downtown menu.
3. Enter your statement details by inputting the ending balance and statement from your most recent bank or credit card statement.
4. If the balances don’t align, don’t panic. Fix any discrepancies by checking for errors like duplicate transactions, missing entries, or an accidental typo. Adjust these as needed to fix them.
5. Once the difference is $0, click on “Finish Now” to complete the process.
6. Schedule this process to occur monthly or quarterly, depending on your schedule and cash flow.

Why should you import accountant changes in QuickBooks?

While it may feel like another annoying admin tasks, importing changes made by your accountant is essential for your business, and here’s why:

• Accurate financial records: When you import changes, your books are always updated with the latest adjustments, cutting down on any errors that can throw your books.
• Audit readiness: If you’re ever faced with the unpleasant experience of an IRS audit, having accurate records with a clear audit trail will save you a lot of stress.
• Compliance: Financial compliance is an accountant’s bread and butter. So when they make adjustments, and you import them into your QuickBooks, it means you can be confident everything financially is above board and in good standing.
• Informed decision-making: Clean, up-to-date financial data gives you a much clearer picture of your business, helping you make smarter decisions for the future.

Key takeaways

• Keep your financial data accurate and clean: Importing accountant changes means your records are current and ready for any surprises (like an audit).
• Always back up your company file: Before importing changes, create a backup to protect your data in case anything goes wrong. Store multiple copies.
• Communicate with your accountant: Clear communication and schedule imports to avoid any confusion.
• Reconcile accounts regularly: Stay on top of reconciliation. It will minimize the need for constant adjustments and save time for both you and your accountant.

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How to import accountant changes in QuickBooks FAQs

Can I undo accountant changes after importing them in QuickBooks?

Yes, but the only way to undo changes after an import is by restoring the backup of your company file. That’s why creating a backup before importing changes is absolutely essential.

Do I need to close my QuickBooks file while my accountant works on it?

No, it’s not necessary to close your file. Your accountant can work on a copy of the company file instead. Once they are finished making adjustments, they will send their copy in the form of a .QBY file, which you then import. This can all be done without ever closing QuickBooks.

How often should I import accountant changes in QuickBooks?

It depends on your business and your cash flow. For smaller businesses, quarterly imports are generally enough. But if you’re dealing with a lot of transactions or running a medium-sized business, monthly imports are ideal.

The post How to import accountant changes in QuickBooks in 5 easy steps appeared first on Method.

In this article, you’ll answer: how much does QuickBooks charge for ACH payments? This way, you can make smart choices about how to handle payments. Whether you’re a small business owner or a seasoned accountant, knowing the ins and outs of ACH payment fees can help you save money, reduce unnecessary charges, and simplify your financial operations.

What are ACH (automated clearing house) payments?

ACH stands for Automated Clearing House, a network that facilitates electronic bank payments. When you make an ACH payment, the money is withdrawn directly from your checking account and deposited into the recipient’s account. This process is usually faster and more secure than writing a check and is often less expensive than using a credit card.

ACH payments are so popular because they’re incredibly convenient. Many businesses use them to pay their employees, vendors, and suppliers. It’s also an excellent way for customers to make recurring payments, like monthly subscription services or utility bills.

ACH payments are also relatively inexpensive. Unlike credit card transactions, which often come with hefty processing fees, ACH payments typically have lower costs, making them attractive for businesses with high-volume transactions. In addition to being convenient and cost-effective, ACH payments are also highly secure. The ACH network has robust security measures to protect transactions and prevent fraud, giving businesses and individuals peace of mind when making electronic payments.

Why does QuickBooks charge for ACH payments?

QuickBooks charges a small fee for ACH (Automated Clearing House) transactions for a few reasons:

• Operational costs: QuickBooks needs money to keep its systems running smoothly. This includes paying for secure servers, software updates, and staff to handle transactions.
• Service enhancements: QuickBooks uses the money to improve ACH services. This could mean adding new security features or creating tools that simplify your accounting tasks.
• Bank and network fees: QuickBooks pays banks and the ACH network to process these transactions. These costs usually fall on customers.
• Compliance and regulatory costs: QuickBooks must comply with rules to prevent issues like money laundering. The fees help cover the costs of adhering to those regulations.
• Customer support and education: QuickBooks aims to ensure users get the most out of their services by offering training and support.

Overall, QuickBooks’ fees for ACH transactions are usually in line with what other accounting services charge.

How does QuickBooks handle ACH payments?

QuickBooks handles ACH payments through a systematic process involving the following stages:

1. Initiation: A user starts an ACH payment in QuickBooks. They choose the payee, payment amount, and payment date.
2. Payment data collection: QuickBooks collects essential payment details. This includes the payee’s name, account number, and routing number.
3. Payment data verification: QuickBooks checks the payment info to ensure everything is correct.
4. File creation: QuickBooks creates an ACH file with all the payment details. This file is sent to the ACH network.
5. Network processing: The ACH network processes the ACH file. It checks the payment info and ensures it complies with ACH regulations.
6. Bank processing: The payee’s bank receives the ACH file and processes the payment, debiting the payee’s account.
7. Payment settlement: The payment is settled. Money moves from the payee’s account to the recipient’s account.
8. Payment confirmation: QuickBooks gets payment confirmation from the ACH network and updates the user’s account accordingly.
9. Payment reconciliation: QuickBooks matches the payment with the user’s account to ensure everything is accurate. 
10. Completion: At this stage, the ACH payment process is complete. The user can check the payment status in QuickBooks.

Image credit: Intuit QuickBooks

QuickBooks ACH payment fees

QuickBooks charges a flat fee of $1 per transaction, with a maximum monthly payment of $10. This means that if you process multiple ACH transactions in a month, you’ll only pay a maximum of $10 in fees. Additionally, QuickBooks may also charge a small percentage-based fee for certain types of ACH transactions, such as payments to vendors or contractors. 

However, this fee is typically waived for employee payments or other types of transactions. Note that these fees are subject to change, so it’s always a good idea to check the QuickBooks website or consult a QuickBooks representative for the most up-to-date pricing information.

Standard ACH payment fees

Here are the standard fees associated with ACH payments: $0.25-$1.50 per transaction (baseline rate), 0.5%- 1.5% of the transaction amount (percentage-based fee), $5-$30 per return or rejection (return fee), $10-$50 per month (monthly minimum fee), $0.10-$0.30 per transaction (micro-deposit verification fee), and $5-$20 per failed or rejected payment (NSF fee).

Note that these fees are subject to change and may vary depending on the payment processor, the type of transaction, and other factors.

Instant deposit fees

The instant deposit service for ACH payments through QuickBooks allows users to deposit funds into their bank account immediately rather than waiting for the standard ACH processing time. However, this expedited service comes with an additional fee. The instant deposit fee is typically a flat rate of 1% of the deposit amount, with a minimum fee of $0.25 and a maximum fee of $10. 

This fee is in addition to the standard ACH payment processing fee. The additional cost factors contributing to the instant deposit fee include the expedited processing time, the increased security measures required for instant deposits, and the costs associated with facilitating immediate access to funds.

For more information on QuickBooks payment fees, check out our video below.

Factors influencing QuickBooks ACH payment fees

The fees for QuickBooks ACH payments can vary based on a few things. First, it matters what kind of transaction you’re doing. Are you paying employees, vendors, or contractors? The number of transactions you make matters, too. If you do a lot, you might pay more or even get discounts. How fast you want the payment to go also counts. 

If you choose instant deposits, expect higher fees. The payment method you pick, like ACH debit or credit, can also change the costs. Lastly, your QuickBooks plan affects what you’ll pay. Some plans have better prices or extra features.

QuickBooks subscription plan

Here’s a breakdown of how different QuickBooks subscription plans influence the fees charged for ACH payments:

• QuickBooks Online Simple Start: 1% per transaction (max $10) for ACH payments, with no monthly minimum fee.
• QuickBooks Online Essentials: 1% per transaction (max $10) for ACH payments, with no monthly minimum fee. However, users can access additional features, such as multiple-user access and time tracking.
• QuickBooks Online Plus: 1% per transaction (max $10) for ACH payments, with no monthly minimum fee. This plan also includes features like inventory management and budgeting.
• QuickBooks Online Advanced: This plan charges 0.5% per transaction (max $5) for ACH payments and has no monthly minimum fee. It includes advanced features like customized reporting and workflows.
• QuickBooks Payments: Offers discounted ACH payment rates (0.5% per transaction, max $5) for high-volume users, with a monthly minimum fee of $20.
• QuickBooks Pro/Premier: 1% per transaction (max $10) for ACH payments, with a monthly minimum fee of $10.

Note that these fees and plans are subject to change. For the most up-to-date pricing information, check the QuickBooks website.

Volume of transactions

The number of transactions you make affects the ACH payment fees in QuickBooks. The more transactions you make, the lower the fees usually are. That’s because QuickBooks gives discounts for high volumes. For instance, if you handle more than 500 monthly transactions, you might get a reduced fee of 0.5% per transaction instead of the usual 1%. If you really go big and have over 5,000 transactions monthly, you might even get special pricing with lower fees. 

These discounts can help businesses save money on ACH processing fees, making it more affordable to manage finances through QuickBooks.

Negotiated rates for high-volume users

If your business does a lot of transactions, you might get better rates for ACH payments with QuickBooks. QuickBooks has different pricing plans, often giving lower rates to those who bring in high volumes. 

To negotiate first, check your current pricing and see how many transactions you do. Then, reach out to QuickBooks’ customer support or sales team. Explain what your business needs and ask for a custom quote. Ensure to share details about your transaction volume, average amount per transaction, and how often you make payments. This shows them you’re a high-volume user. 

QuickBooks might give you a better rate, a flat fee, or a special plan just for you. Be ready to negotiate and also mention any better offers you might have from other payment companies to strengthen your case.

Benefits of using ACH payments in QuickBooks

Using ACH payments with QuickBooks has several benefits that can help businesses improve their payment process, save money, and manage their finances better. 

Lower transaction fees compared to credit card payments

When you look at ACH fees versus credit card fees, ACH is way cheaper. Credit card fees usually hit you with 2.5% to 3.5% of the sale amount. Plus, there’s an extra fee of $0.10 to $0.30. That can add up fast! 

On the flip side, ACH fees through QuickBooks are much lower. You’re looking at only 0.5% to 1% of the sale and a flat fee of $0.25 to $1.00. Think about it. If you make a transaction of $1,000, credit card fees would be around $25 to $35. But for ACH, you’d pay only about $5 to $10. In short, using ACH can save businesses up to 75% on fees. 

Improved cash flow and payment speed

ACH payments can really help businesses manage their money better. They speed up the process of getting paid. Instead of waiting for paper checks, businesses receive the money directly in their bank accounts, allowing them to access their funds much faster.

When businesses get paid quicker, they can reduce the time it takes to collect money from customers. This means more cash on hand for other needs. They can buy more inventory, pay their suppliers promptly, and invest in new ideas.

In short, using ACH payments makes it easier for companies to keep their cash flowing smoothly. It helps them work better and make smarter money choices.

Enhanced security and reduced risk of fraud

ACH payments have several security features to help prevent fraud. First, they use strong encryption, such as SSL/TLS, to keep sensitive payment information safe while transacting between banks and the ACH network. 

In addition, ACH payments require clear permission from the payer. This can be a signed agreement or an electronic authorization, which prevents unauthorized transactions. The ACH network also checks account and routing numbers to ensure that payments go to the right place and that accounts are real.

There are also strict rules, like the Nacha Operating Rules. These rules guide how ACH transactions work and ensure secure payments. Together with QuickBooks’ own security, these features protect businesses and individuals from losing money to fraud.

Are there any hidden fees associated with ACH payments?

A lot of people worry about hidden fees with ACH transactions. The good news is that QuickBooks is upfront about its fees. When you use QuickBooks for ACH transfers, there’s a flat fee for each transaction. You can find this fee laid out in the QuickBooks pricing plan.

QuickBooks also tells you about any extra fees. This includes charges for returns, rejected payments, NSF fees, or instant deposits. You can see all these in QuickBooks’s terms of service right on the platform.

QuickBooks also provides detailed invoices and statements, making it easy for businesses to keep track of their ACH fees and avoid surprises. By being transparent about fees, QuickBooks helps businesses feel confident in their payment choices.

Key takeaways

Understanding the fees associated with ACH payments in QuickBooks can help you make informed decisions about your business’ payment processing needs. Bear the following in mind:

• ACH fees can add up: QuickBooks charges a flat fee per ACH transaction, ranging from $0.25 to $1.00, depending on your subscription plan. If you’re processing a high volume of transactions, you can incur significant fees.
• Bulk discounts are available: QuickBooks offers tiered pricing for ACH payments, with lower rates for higher transaction volumes. You may be eligible for discounted rates if your business processes many ACH transactions per month.
• Negotiating fees is possible: You can negotiate ACH fees with QuickBooks, especially if your business has a high transaction volume or is willing to commit to a minimum transaction volume or term length.
• Financial impact: Understanding ACH fees in QuickBooks can significantly impact your business finances as you can save hundreds or even thousands of dollars per year.

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How much does QuickBooks charge for ACH payments FAQs

How long does it take to process an ACH payment in QuickBooks?

In QuickBooks, ACH payments typically take 1-3 business days to process. However, weekends, federal holidays, and bank holidays may delay the processing time. Additionally, some banks may take longer to process ACH payments, so it’s always a good idea to check with your bank or the recipient’s bank for specific processing times.

Can I negotiate ACH payment fees with QuickBooks?

You can negotiate ACH payment fees with QuickBooks, especially if your business has a high volume of transactions. Although QuickBooks has set prices, it might offer discounts or special rates for loyal customers or businesses with high transaction volumes.

To start negotiating, you’ll need to share details about how many transactions you make, the average amount, and how often you process payments. It helps if you’re ready to agree to a minimum number of transactions or a contract length to get the best deal.

When you negotiate, you can get lower rates, cheaper monthly fees, or custom pricing plans. For instance, if your business handles over 1,000 monthly transactions, you could receive a discount of 0.25% + $0.25 per transaction instead of the regular 0.5% + $0.50.

Just remember, your negotiation results will depend on your business needs and how QuickBooks sets its prices.

Does QuickBooks offer discounts for bulk ACH payments?

Yes, QuickBooks offers discounts for ACH payments made in bulk. To qualify for a bulk discount, businesses must agree to a minimum number of monthly transactions, sign a contract for a set time, such as 6 to 12 months, and pay a fee monthly or once a year.

That said, it’s best to contact QuickBooks directly. They can help you determine whether you qualify for those ACH payment discounts.

The post How much does QuickBooks charge for ACH payments? appeared first on Method.

Another common scenario that may require reprinting checks is when there are errors or discrepancies in the original check. For instance, if the check amount or payee information is incorrect, you must void the original check and reprint a new one with the correct details. Whatever the reason, knowing how to reprint checks in QuickBooks can save you time and hassle.

The process for reprinting checks in QuickBooks differs slightly between QuickBooks Online and QuickBooks Desktop. Here’s a breakdown of the key differences:

1. Accessing checks:
   
   • QuickBooks Online: Locate checks through the “Reports” section by selecting “Check Detail.”
     
   • QuickBooks Desktop: You can access checks via the “Banking” menu by choosing “Use Register” or going directly to “Check Register.”
2. Reprinting process:
   • Both versions support batch printing for multiple checks, but the specific steps to reprint checks vary slightly between the two platforms.
3. Customization options:
   • The desktop version offers more advanced customization options for check layouts and formats, providing greater flexibility compared to the online version.

Understanding these differences ensures a smoother experience when reprinting checks, no matter which QuickBooks version you use.

This article takes you through the step-by-step process of reprinting checks in both QuickBooks Online and QuickBooks Desktop. Let’s dive in.

Why do you need to reprint checks in QuickBooks?

Reprinting checks in QuickBooks becomes necessary in the following situations:

• Lost or misplaced checks: Sometimes checks get lost in the shuffle—whether it’s a paper slip that fell under a pile or never reached the recipient. If a check is lost before it’s cashed, you may need to reprint it for the payee.
• Printing errors: Issues with alignment, smudging, or incorrect formatting are common while printing checks. If the details are off or the check looks illegible, a reprint ensures the recipient gets a readable, properly aligned check.
• Duplicate requests: Your payee might ask for a copy of a check for their records, or your business might require a duplicate for internal accounting purposes. In these cases, reprinting a check helps keep everything in order.
• Banking issues: Occasionally, the bank might return a check due to issues like insufficient funds, a closed account, or a mismatch in details. In such cases, you may need to void the original and reprint a new check.

Steps to reprint checks in QuickBooks Online

The process of reprinting checks in QuickBooks Online is intuitive. You can access the check reprinting feature in two ways. The first is through the “Expenses” tab in the left-hand menu bar. Alternatively, depending on your specific workflow, you can access the check reprinting feature from the “Payments” tab or the “Banking” tab. The steps you take afterward depend on whether you want to reprint a single or multiple checks.

Single check

Reprinting a single check in QuickBooks will suffice if the original check was lost, stolen, damaged, or returned due to an incorrect address or other error. Additionally, reprinting the check may be necessary if the payee never received the check or if the check was voided due to an incorrect amount or payee information. 

Locate the check in the check register

1. Log in to your QuickBooks Online account and navigate to the “Banking” tab in the left-hand menu bar.
2. Click on the “Check Register” option from the drop-down menu.
3. In the Check Register window, select the bank account associated with the check you want to reprint from the “Account” dropdown menu.
4. To narrow the list of checks, enter the check number or date range in the “Filter” field.
5. Scroll through the list of checks and find the specific check you want to reprint.

Open the check to view details

1. In the “Check Register” window, click the check number or the “View” button to open the check details window.
2. Review the check details to ensure you have selected the correct check. Verify the following information:
   • Check number.
   • Date.
   • Payee.
   • Amount.
   • Memo.
3. Check the check status to ensure it has not been previously voided or deleted.
4. Review any attached documents, such as invoices or receipts, to confirm the check details.
5. If the check details appear correct, proceed with reprinting the check. If the details are incorrect, cancel the reprint process and investigate the discrepancy.

By carefully reviewing the check details, you can ensure you reprint the correct check and avoid any potential errors or discrepancies.

Select the “Print” option

1. From the check details window, click the “Print” button, which is usually located at the bottom of the window.
2. In the Print window, select the printer you want to use from the “Printer” dropdown menu.
3. Choose the correct paper size and layout for your checks. QuickBooks Online typically defaults to a standard check size.
4. Select the number of copies you want to print. Generally, you’ll want to print one copy.
5. Check the “Print check number” box if you want the check number printed on the check.
6. Review the other print settings, such as the font and formatting, to ensure they meet your needs.
7. Click “Print” to send the check to the printer.
8. Verify that the check has been printed correctly and that all the necessary information is included.

Image credit: QuickBooks

Multiple checks

Sometimes, life gets in the way, and checks get lost, stolen, or damaged. Or maybe you just need to resend a batch of checks to a vendor or supplier. Whatever the reason, reprinting multiple checks at once is a common task for businesses. Luckily, QuickBooks Online makes it easy to select and reprint multiple checks in one go, saving you time and hassle.

Use the “Batch Actions” feature

To use the “Batch actions” feature to handle multiple checks simultaneously, navigate to the Check Register window, then:

1. Select the checks you want to reprint by checking the boxes next to each check.
2. Click on the “Batch actions” dropdown menu at the top of the window.
3. Select “Print” from the batch actions menu.
4. In the Print window, choose the printer and settings you want to use.
5. Select the number of copies you want to print for each check.
6. Click “Print” to print all the selected checks at once.

If you need to void or delete multiple checks, use the batch actions feature. Simply select the checks you want to void or delete, click on the “Batch actions” menu, and choose the desired action.

Select checks to be reprinted

To select multiple checks in the Check Register window,

1. Click on the first check you want to select by checking the box next to it.
2. Hold down your keyboard’s Ctrl key (Windows) or Command key (Mac).
3. While holding down the Ctrl or Command key, click on each additional check you want to select. This will allow you to choose multiple checks that are not consecutive.
4. To select a range of consecutive checks, click on the first check, hold down the Shift key, and click on the last check. This will select all checks in between.

Now, you’re ready to use the batch actions feature to reprint the selected checks.

Print selected checks

1. Review the selected checks to ensure you have chosen the correct ones.
2. Verify the check numbers, dates, and payee information to confirm accuracy.
3. Once satisfied with your selection, click the “Batch actions” dropdown menu.
4. Select “Print” from the batch actions menu to print the selected checks.
5. In the Print window, review the print settings, such as the printer, paper size, and orientation.
6. Make any necessary adjustments to the print settings.
7. Click “Print” to send the selected checks to the printer.
8. Verify that the checks have been printed correctly and that all necessary information is included.

How to reprint checks in QuickBooks Desktop

If you’re using QuickBooks Desktop, you’ll notice a slightly different interface and set of features compared to QuickBooks Online. When it comes to reprinting checks, QuickBooks Desktop offers a more traditional desktop application experience, allowing you to customize your check templates, manage check numbers, and track check printing history, all of which can be useful when reprinting checks.

Single check

Reprinting a single check in QuickBooks Desktop may be necessary if a payee never received the check or the check was voided due to an incorrect amount or payee information. In any of these situations, QuickBooks Desktop allows you to easily reprint a single check, ensuring the payment is properly recorded and processed.

Locate the check in the check register

1. Open QuickBooks Desktop and select the company files you want to work with.
2. Click on the “Banking” menu at the top of the screen.
3. Select “Use Register” from the drop-down menu.
4. In the “Use Register” window, select the bank account associated with the check you want to find from the “Account” dropdown menu.
5. Click the “Go to Date” button and select the date range when the check was written.
6. Use the “Find” feature to search for the check-by-check number, payee, or amount. You can access the “Find” feature by pressing Ctrl + F on your keyboard.
7. Enter your search criteria in the “Find” window and click “Find” to locate the check.
8. Once you’ve found the check, click on it to select it and view its details.

Open the check to view details

1. With the check selected in the register, click on the “Edit Transaction” button or double-click on the check to open the “Write Checks” window.
2. In the “Write Checks” window, review the check details, including:
   • Check number
   • Date.
   • Payee.
   • Amount.
   • Memo.
3. Verify that the check details are accurate and match your records.
4. Check the “Check Status” field to ensure the check has not been voided or deleted.
5. Review any attached documents, such as invoices or receipts, to confirm the check details.

Select the “Print Later” option and then print

1. Once you have verified the check details, click the “Print Later” button in the “Write Checks” window.
2. QuickBooks will mark the check as “To Print” and add it to the print queue.
3. To print the check, click on the “File” menu and select “Print Forms” > “Checks”.
4. In the “Select Checks to Print” window, select the check(s) you want to print, including the one you marked as “To Print”.
5. Choose the correct printer and check stock.
6. Select the print settings, such as the number of copies and the print orientation.
7. Click “Print” to send the check to the printer.
8. Verify that the check has been printed correctly and that all necessary information is included.

Image credit: Chax

Multiple checks

Reprinting multiple checks in QuickBooks Desktop may be necessary for several reasons. One common scenario is when a batch of checks is lost or stolen, requiring the business to reprint all affected checks. Another reason is when a printer issue or paper jam causes multiple checks to print incorrectly or not at all. 

Additionally, reprinting multiple checks may be required if a business needs to reissue checks to multiple vendors or employees due to incorrect information or payment amounts. Furthermore, in cases where a business is transitioning to a new check stock or printer, it may need to reprint multiple checks to ensure compatibility and accuracy.

Access the “Print Checks” window

1. Open QuickBooks Desktop and select the company files you want to work with.
2. Click on the “Banking” menu at the top of the screen.
3. Select “Write Checks” from the drop-down menu.
4. In the “Write Checks” window, click on the “File” menu.
5. Select “Print Forms” from the drop-down menu.
6. Choose “Checks” from the “Print Forms” menu.
7. The “Select Checks to Print” window will appear, where you can select the checks you want to print.
8. Click “OK” to proceed to the “Print Checks” window, where you can confirm the print settings and print the checks.

Select the checks to be reprinted

1. In the “Select Checks to Print” window, click on the first check you want to reprint to select it.
2. To select multiple consecutive checks, hold down the Shift key and click on the last check you want to reprint.
3. To select multiple non-consecutive checks, hold down the Ctrl key (Windows) or Command key (Mac) and click on each check you want to reprint.
4. You can also use the “Select All” button to select all checks in the list.
5. Review the list of selected checks to ensure you have chosen the correct ones.
6. Click “OK” to confirm your selection and proceed to the “Print Checks” window.

Print the selected checks

1. Review the print settings in the “Print Checks” window, including the printer, check stock, and print orientation.
2. Ensure the correct printer is selected and loaded with the proper check stock.
3. Choose the correct print settings, such as the number of copies and the print alignment.
4. Click “Print” to send the selected checks to the printer.
5. Verify that the checks have been printed correctly, including the check numbers, dates, payee information, and amounts.
6. Review the printed checks for any errors or omissions.
7. Sign and distribute the printed checks as needed.
8. Record the printed checks in your accounting records, including updating the check register and reconciling the bank statement.

What if my check does not print correctly?

Incorrect check printing can result from any of the following common printing issues in QuickBooks:

• Check alignment issues: Verify that the check stock is aligned correctly in the printer. Adjust the printer settings or check stock alignment as needed.
• Blank or incomplete checks: Check the QuickBooks print settings to ensure the correct printer and check stock are selected. Verify that the check information in QuickBooks is complete and accurate.
• Error messages: Check the QuickBooks error log for specific error messages related to printing. You can research the error message online or contact QuickBooks support for assistance.
• Outdated printer drivers: Ensure the printer drivers are up to date. Visit the printer manufacturer’s website to download and install the latest drivers.
• QuickBooks software issues: Try restarting QuickBooks or restarting the computer. If issues persist, consider reinstalling QuickBooks or seeking assistance from QuickBooks support.

To ensure optimal print quality and alignment when printing checks, follow these tips:

• Use high-quality check stock: Select check stock specifically designed for printing. It should have a smooth finish and be of appropriate weight to prevent smudging or misfeeds.
• Adjust printer settings: You can configure your printer settings, including paper size and thickness, to match the check stock you use.
• Calibrate the printer: Regularly calibrate your printer to maintain precise alignment and consistent print quality.
• Verify printer alignment: Use alignment guides or test pages to ensure the printer is correctly aligned with the check stock before printing.
• Set the correct print orientation: Confirm that the print orientation matches the layout of the checks and that they print in the correct direction.
• Print in small batches: To avoid overloading your printer, print checks in smaller batches. This reduces the risk of misalignment or compromised print quality.

Key takeaways

Reprinting checks in QuickBooks is a surefire way to combat any number of issues that might go wrong with a check.

Remember that:

• Reprinting checks is a common practice among businesses.
• Reprinting on QuickBooks Online is like reprinting on a Desktop with slight differences.
• You can reprint individual or multiple checks.
• Altering check numbers can lead to duplicate payments and incorrect accounting records.

Tired of doing the same, repetitive QuickBooks tasks over and over again?

Method CRM can help. Try it free for 14 days.

How to reprint checks in QuickBooks FAQs

Can I reprint checks with different check numbers?

Reprinting checks with different check numbers is possible in QuickBooks, but it’s essential to understand the implications. When you reprint a check with a different number, QuickBooks creates a new transaction with the updated check number while the original transaction remains in the system. If not managed properly, this can lead to duplicate payments or incorrect accounting records. 

To reprint a check with a different number, go to the “Write Checks” window, select the original check, and click “Edit.” Change the check number and save the changes. Then, go to the “Print Checks” window, select the revised check, and print it. 

Can I reprint multiple checks at once in QuickBooks?

Reprinting multiple checks is a convenient feature in both QuickBooks Online and Desktop, allowing users to recreate lost, damaged, or incorrect checks efficiently. However, there are limitations to this feature. For example, users cannot reprint multiple checks with different bank accounts or check templates. 

Additionally, a check that has already been reconciled or has a payment attached cannot be reprinted. Furthermore, reprinting multiple checks does not automatically update the check numbers or void the original checks, requiring manual adjustments to maintain accurate accounting records.

Can I customize the appearance of my reprinted checks in QuickBooks?

QuickBooks allows users to customize checks to suit their business needs. Users can personalize check templates by adding their company logo, changing font styles and sizes, and modifying the layout to include additional information, such as payment stubs or remittance addresses. 

QuickBooks provides a range of customization features, including the ability to add custom fields, create multiple check templates, and use different colors and fonts. Users can also customize the check numbering, date, and memo fields to fit their specific requirements. 

The post How to reprint checks in QuickBooks easily appeared first on Method.

Wondering how to transfer QuickBooks to a new computer without disrupting your business? 

In this article, you’ll get a step-by-step guide that takes you through the entire process of transferring over to a new computer on Windows. Let’s get started.

What does transferring QuickBooks files to a new computer mean?

Learning how to transfer QuickBooks to a new computer is a lot like moving to a new house. Like your furniture, you’ll be using the exact same tools, settings, and data — just in a different space.

QuickBooks file transfer involves: 

1. Installing QuickBooks on your new computer.
2. Backing up your company files from the old one.
3. Restoring those files onto the new system. 

It’s about making sure that not just your software, but also your data, user preferences, and customizations all make the move too. 

How to move QuickBooks Desktop to a new computer

You can move QuickBooks Desktop from an old computer to a new one with a few straightforward steps that ensure all your vital financial data, configurations, and custom settings are safely transferred. 

Step 1: Prepare to use the QuickBooks Migrator Tool

The first step is to access the QuickBooks Migrator Tool within the QuickBooks software. The tool is designed to simplify moving QuickBooks files from one computer to another. 

Before you can use the QuickBooks Migrator Tool, there are a few things you need to prepare for:

• Administrator access: You must have admin rights on both your old and new computers.
• External storage device: You need a USB drive with sufficient storage capacity to transfer your QuickBooks data. It’s recommended to use a drive with at least 16GB of free space.
• Updated QuickBooks version: Ensure the software is up to date on your current computer. The Migrator Tool is only available for QuickBooks Desktop versions 2018 and newer.
• Stable power source: Connect both computers to a power source to prevent interruptions during the process.
• Password setup: Be ready to create a password to secure your data transfer.

Also, close all other applications before starting the migration process. Doing this:

• Frees up all your computer’s resources for the migration process, reducing the risk of errors.
• Prevents interruptions that might corrupt your data. 
• Enhances transfer speed.
• Avoids conflicts that may cause the QuickBooks Migrator Tool to malfunction or fail.

Step 2: Understand how the QuickBooks Migrator Tool works

Image credit: QuickBooks

Before you launch the QuickBooks Migrator Tool, you need to know how it works to avoid any issues. 

First, it creates a one-time password that you’ll use to unlock your files during the transfer. It then moves your QuickBooks company files and all supporting documents to a USB flash drive.

Once you’ve transferred the USB to your new computer, the tool automatically downloads the correct version of QuickBooks Desktop, ensuring that your files are correctly installed and ready to use without reformatting your drive or erasing any existing files. This automation minimizes the risk of data loss and makes the process much easier for you.

To protect your data, the QuickBooks Migrator Tool uses several security measures: 

• Password protection: The tool requires you to create a one-time password for your data files, ensuring that only you can access them during the transfer.
• Data encryption: When copied to the USB drive, your QuickBooks files are encrypted, providing an additional layer of security to prevent unauthorized access.
• Secure file handling: The tool manages the transfer process in a secure environment, minimizing the risk of data corruption or loss during the move.
• Verification steps: This includes verification steps before and after the transfer to ensure all files are accounted for and correctly installed on the new computer.

While these security measures are robust, it’s smart to look into best practices for security on your end as well, such as:

• Encrypting backups stored on external drives or cloud services.
• Ensuring antivirus software is active when using USB drives to prevent malware risks.

Finally, note that the Migrator Tool is only available for QuickBooks Desktop versions 2018 and newer. Users with older versions must rely on manual methods or alternative tools.

It also does not transfer all data, such as:

• Payroll setup.
• Multi-user configurations.
• Third-party integrations.

These must be manually reconfigured on the new system.

Step 3: On the old PC, choose “File” in QuickBooks

1. Double-click the QuickBooks Desktop icon on your old computer to launch the application.
2. At the top of your QuickBooks window, you will see a menu bar with several options.
3. Click “File” in the top left corner of the menu bar.

Step 4: Choose Utilities → Move QuickBooks to another computer

Clicking on the “File” menu will activate a dropdown list of options. Within this list, hover your cursor over “Utilities” to expand the Utilities menu. Then, locate and click “Move QuickBooks to another computer.” 

Image credit: Dancing Numbers

Step 5: Follow the prompts

At this stage, the tool will lead you forward through a series of prompts:

1. If you haven’t closed other windows, you’ll receive a prompt to do so. Hit “OK.”
2. Click “I’m ready” to confirm starting the process.

3. Enter a secure, one-time password that you can easily remember. You’ll use the password to unlock your files during the transfer. Make sure your password meets the conditions as outlined.

4. Select USB flash drive: Insert a USB flash drive with enough free space and select it from the list of available drives.

Image credit: TeachUComp

5. Wait for the files to be copied. Depending on the size of your data, you may have to wait a few minutes.

Each of these prompts provides specific instructions and information designed to guide you through the process smoothly. Pay close attention to these prompts and ensure that every step is completed correctly to reduce the risk of errors.

Step 6: On the new PC, insert the USB flash drive

Safely eject the USB from your old computer. Locate an available USB port on your new PC and insert the flash drive. 

Step 7: Open the USB flash drive

1. To open File Explorer, click on the File Explorer icon (a folder) in the taskbar, or press Windows + E on your keyboard.
2. In File Explorer, look at the left-hand pane under “This PC” or “Computer.” You should see a list of drives, including your internal hard drive and any connected external drives.
3. Find the entry that corresponds to your USB flash drive, usually labeled with the drive letter (e.g., “E:”) and possibly the brand name of the drive.
4. Click on the USB drive entry to open it. The contents of your USB flash drive should now be displayed in the main window of File Explorer.

When opening files from an external device, ensure your antivirus software is up to date and running. It will automatically scan external devices for malware. 

It’s good practice to manually scan the USB drive for any unfamiliar or suspicious files, especially if the drive isn’t yours. Avoid using autorun features to prevent the automatic execution of files, which could pose security risks. 

Step 8: Double-click the option “Move_QuickBooks.bat file”

The “Move_QuickBooks.bat” is a batch file that automates the transfer of QuickBooks files from your old computer to the new one. Double-click the file to execute it — it will move the necessary data files, configurations, and settings to your new computer.

If the “Move_QuickBooks.bat” file fails to execute, try these troubleshooting tips:

• Ensure you have administrator access to run the batch file. Right-click the file and select “Run as Administrator.”
• Sometimes, antivirus software may block the file. Temporarily disable your antivirus software and try again, but be wary of the lapse in security.
• Ensure the batch file is in the correct folder where QuickBooks is installed.
• Confirm you’re using the right version of QuickBooks for the migration.

Step 9: Enter the password for the QuickBooks Migrator Tool

After double-clicking the file, the Migrator Tool will ask for the password you set when starting the transfer process on your old computer. Enter the password correctly, and the tool will continue migration. Your password ensures no one can tamper with your files without your permission.

Forgot your password? Take the following steps:

• Navigate to the “Help” menu.
• Select “Reset Password” or “Forgot Password” from the options.
• Follow the on-screen prompts to verify your identity.
• When prompted, enter a new password and confirm it.
• Save the changes and ensure the new password is securely stored for future use.

Step 10: Wait for the QuickBooks Migrator Tool to finish its task

Once you’ve downloaded and installed QuickBooks to your new computer, the Migrator Tool automatically transfers the QuickBooks data files, settings, and configurations. During this step, the tool will decompress the necessary files and transfer them to the new computer.

The expected wait time for the migration depends on the size of your QuickBooks files, but it typically takes anywhere from a few minutes to an hour. You may have to wait longer if you are moving larger files or using a slower network connection.

Monitor the progress and verify the successful completion of your QuickBooks migration with the following tips:

• Keep an eye on the progress bar.
• Look for a message confirming the success of the transfer.
• Check the new system for your QuickBooks files to ensure they appear correctly and are fully accessible.
• Open QuickBooks and confirm that your company files, settings, and user preferences are intact and working properly.

How to install QuickBooks Desktop on a new computer

To install QuickBooks Desktop on your new computer: 

1. Download the QuickBooks installation file from the official QuickBooks website or get the installation CD if you have one. 
2. Navigate to your downloads folder or to the CD drive if you’re using a CD. 
3. Find and double-click on the installation file to initiate the installation process. 
4. Follow the prompts to select the type of installation — either “Express” for default settings or “Custom” for tailored options. 

Image credit: QuickBooks

5. Enter your product and license information when prompted and wait for the installer to complete the installation.
6. Once installed, open QuickBooks and proceed to restore your company file. If you’re transferring data, ensure the file backup from the old computer is accessible and use the “Open or Restore Company” option to load it. 
7. Configure your preferences, including payroll, tax settings, and user roles, to match your previous setup. 
8. Finally, update QuickBooks to the latest version for optimal performance and security.

Note that if a backup is created in a newer version of QuickBooks, it cannot be restored in an older version due to file format incompatibility, so you need to ensure your new system meets updated hardware requirements.

Sometimes, something might go wrong during the installation. Here are the common errors you might encounter and how you can resolve them:

• Error 1904: File failed to register: Run the QuickBooks Install Diagnostic Tool to repair installation issues. Ensure your system meets the software’s requirements.
• Error 1603: Fatal error during installation: Update Windows to the latest version and retry the installation.
• Framework .NET installation error: Install or repair Microsoft .NET Framework using Microsoft’s official tools.
• Access denied errors: Run the installer as an administrator and verify user permissions.
• License validation error: Double-check the product and license numbers entered during installation.

Reasons to transfer QuickBooks to a new computer

So, why transfer? Of course, chances are that you got a new computer and are ready to get rid of the one currently hosting your QuickBooks platform.

But there are also a few benefits you may not have considered that you can expect from running QuickBooks on a new computer:

• Improved performance: Provided your computer is a newer one, faster hardware means smoother QuickBooks operation.
• Enhanced security: New systems often come with updated software and security features to protect your sensitive data.
• Greater storage capacity: You’ll likely have more space for files and backups.
• Reduced risk of crashes: Modern hardware helps prevent system errors and interruptions.

Let’s look a little closer at the three most common reasons people want ti kniw how to transfer QuickBooks to a new computer.

Upgrading the computer

A more powerful computer lets you: 

• Run complex financial reports.
• Process large volumes of data.
• Manage multi-user access with greater speed and efficiency (provided you have the proper license). 
• Load data and features faster.
• Navigate QuickBooks smoother with less risk of crashes or lags.

Additionally, modern computers often come with enhanced security features, ensuring that your sensitive financial information is better protected while offering a more enjoyable user experience.

Here are the recommended hardware specifications for optimal QuickBooks performance:

• Processor: 2.4 GHz or higher (preferably multi-core).
• RAM: At least 8 GB (16 GB or more for larger files or multi-user setups).
• Storage: Use an SSD (Solid-State Drive) for faster load times and at least 2.5 GB of free disk space for QuickBooks installation.
• Operating System: Windows 10 or 11, 64-bit.
• Display: Minimum resolution of 1280×1024 or higher.
• Network: Reliable internet for QuickBooks Online or multi-user mode.

Technical issues with the current system

Transferring QuickBooks to a new computer is sometimes necessary due to persistent technical issues affecting performance. For instance, frequent system crashes resulting from outdated hardware or software conflicts may disrupt daily operations. 

Similarly, slow performance caused by insufficient RAM, a failing hard drive, or outdated processors can frustrate tasks like generating reports or processing transactions. Upgrading to a new computer with better specifications can resolve such problems and ensure smooth business operations.

You’re due for a system upgrade if:

• System crashes or slowdowns are recurring and unresolved by updates or repairs.
• Repairing your current computer costs as much as or more than upgrading.
• Technical issues are causing significant downtime or delays in business operations.
• Your computer no longer meets the hardware requirements for the latest QuickBooks version.
• Your data storage is unreliable and backups fail frequently.

Access to QuickBooks from multiple locations

While QuickBooks Online is cloud-based, Desktop isn’t — which means you can only access your data on the computer it’s installed on. So, you might choose to transfer your QuickBooks to a more portable device.

But what if there was a better way? QuickBooks-integrated software like Method CRM enable anytime, anywhere remote access to your QuickBooks Desktop data. That means users can connect from multiple locations without the need for cloud-based services like QuickBooks Online or hosting on a virtual server. 

With Method, your business can maintain secure, role-based access to sensitive financial information, ensuring productivity and compliance across distributed teams while limiting QuickBooks access only to those who need it. 

Need to create an invoice while you’re on the road? Update a customer’s details mid-flight? Process a payment remotely? Method has you covered.

Thanks to its patented two-way, real-time sync with QuickBooks Desktop, you can create estimates, invoices, sales orders, and process payments directly in Method CRM — and they’ll instantly update in QuickBooks. No double entry and no extra work.

Give your customers more control with secure self-serve portals for online payments and e-signatures. Combine the power of QuickBooks Desktop with cloud access, and you get a clear, complete view of your customer relationships – wherever you are. 

Curious to see more? Check out the video below to get a glimpse into what Method makes possible.

Tips to smoothly transfer or move QuickBooks to a new computer

Take note of the following tips to ensure a smooth transfer of QuickBooks from one computer to another. 

Create a backup for your data

Backing up your data ensures that it’s secure during the migration process, giving you the option to restore things to the way they were before you started should anything go wrong.

Here’s how to create a backup of your QuickBooks Desktop data:

1. Open QuickBooks and log in to your company file. 
2. Go to the “File” menu, select “Back Up Company”, and then choose “Create Local Backup.” 
3. Select “Local Backup,” pick your backup destination, and click “Next” to set preferences. 
4. Click Save to initiate the backup. 

Image credit: Rightworks

Be sure to include the following data types in your backup:

• Company files (the core business data).
• Custom reports (personalized reports for analysis).
• Templates (invoice templates, purchase orders, etc.).
• User preferences (settings customized for your workflow).
• Customer and vendor information (contact details and histories).
• Payroll data (for employees and tax filings).

Ensure data compatibility

Check the QuickBooks software version and file formats. QuickBooks files created in older versions may not be fully compatible with newer versions, potentially causing issues when opening or processing data. Also, check that both systems meet QuickBooks’ hardware and software requirements to avoid performance issues.

Use the following compatibility checklist to guide your transfer:

• Software version compatibility: Ensure both computers are running compatible QuickBooks versions.
• Operating system compatibility: Confirm that the new system is on Windows to support your QuickBooks version.
• File format compatibility: Verify that the new version of QuickBooks supports your company files.
• Hardware requirements: Check if the new computer meets QuickBooks’ minimum hardware specifications.
• Data backup: Ensure a complete data backup before proceeding with the transfer.

Deactivate QuickBooks on the old system

Close any open QuickBooks files and sign out of your account. Go to the “Help” menu in QuickBooks. Then, select “Deactivate QuickBooks.” Follow the prompts to complete the deactivation process. Ensure the program is fully unlicensed and no longer running on the old system.

Having trouble with the deactivation process? Here are some common challenges and possible solutions:

• Error message during deactivation: If QuickBooks cannot deactivate, restart your computer and try again.
• License not deactivating: Ensure you are signed in as an admin user to deactivate the software.
• Lost or forgotten license number: Retrieve the license number by checking your original purchase email or QuickBooks account. If it’s gone for good, you’ll have to get in touch with Intuit support.

Update QuickBooks

Install the latest QuickBooks updates before transferring data to your new computer to ensure your new system runs the most current version of the software with all the latest features, bug fixes, and security enhancements. Installing updates beforehand helps avoid compatibility issues when transferring your data and ensures a smooth and efficient migration process. 

To check for and apply updates in QuickBooks:

1. Open QuickBooks and select the “Help” menu at the top.
2. Click on “Update QuickBooks” from the dropdown.
3. In the “Update QuickBooks” window, go to the “Options” tab.
4. Choose “Mark All” to select all available updates.
5. Click “Save” and then go to the “Update Now” tab.
6. Click “Get Updates” to download and install updates.
7. Restart QuickBooks to complete the update process.

Transfer all important files to the new system

When transferring QuickBooks to a new system, move all related files and settings along with the company files. This includes custom templates, report configurations, user preferences, and any integrated third-party apps that might be in use. 

Keep an eye out for the following files and data: 

• Company files (.QBW)
• Backup files (.QBB)
• Custom templates (e.g., invoice, report templates)
• Custom reports
• User Preferences and Settings
• Third-party integrations or add-ons (e.g., payroll software, payment processors)
• Attach documents (e.g., receipts, invoices linked to transactions)

Key takeaways

Learning how to transfer QuickBooks to a new computer is a surefire way to ensure continuity while improving performance.

Remember that:

• Migrating to a new computer can permanently solve nagging technical issues with your current system.
• Backing up your data before migrating ensures data safety if the process goes wrong.
• Ensuring software compatibility between both systems is key to the migration process.
• Copying all related files completes the QuickBooks transfer process.

If you and your team want to access QuickBooks Desktop wherever, whenever, start your free trial of Method — no credit card required.

How to transfer QuickBooks to a new computer FAQs

Can I access QuickBooks from any computer?

Yes, but first, your QuickBooks license should allow multiple users or installations. A multi-user license is required for QuickBooks Desktop to enable access from different machines. 

Additionally, the system requirements on each computer must meet QuickBooks’ hardware and software specifications. If using QuickBooks Online, access is granted via a web browser with no installation needed, but each user must have the proper login credentials and subscription plan to access the data.

Can I install QuickBooks on multiple computers?

Yes, but you must have the appropriate license. For QuickBooks Desktop, a single-user license allows installation on one computer. In contrast, multi-user licenses allow installation on multiple machines within the same company network, with each user needing a separate license. 

QuickBooks Online, however, is cloud-based, and users can access it from multiple if they have internet access and the correct subscription plan.

Does the Migrator Tool work for all versions of QuickBooks?

No, it doesn’t. The QuickBooks Migrator Tool is designed to transfer QuickBooks Desktop files between computers. It works with QuickBooks Desktop Pro, Premier, and Enterprise versions. However, the tool is only available for properly licensed and updated 2018 and newer versions of QuickBooks Desktop. It is not compatible or necessary with QuickBooks Online, which uses cloud-based technology. 

The post How to transfer QuickBooks to a new computer on Windows: A step-by-step guide appeared first on Method.

Since you’re here, you’ve likely discovered that QuickBooks can simplify the payroll management process by helping you:

• Accurately calculate wages and withholding taxes.
• Process timely payments.
• Stay compliant with tax regulations.
• Handle deductions for benefits or retirement plans.

However, getting started might feel daunting. The good news is that you’ve arrived at the perfect place. This guide will walk you through simple, easy-to-follow steps on how to do payroll in QuickBooks like the professional that you are.

Let’s dive in!

What is payroll on QuickBooks?

Payroll is the management of employee payments to ensure everyone gets paid accurately and on time. It’s also a way for businesses to stay on top of taxes and deductions, keeping everything organized throughout the year. The payroll feature in QuickBooks essentially simplifies this process. An all-in-one tool, it handles everything for you, including:

• Tracking work hours.
• Calculating paychecks.
• Filing your taxes automatically (depending on your plan).
• Integrating with your accounting system.

How do I set up QuickBooks Payroll?

Setting up and running payroll in QuickBooks is a straightforward process.

Begin by selecting and paying for a subscription plan. QuickBooks offers three tiered plans ranging from $85 to $184 per month. Keep an eye out for limited-time discounts, as Intuit often provides promotions for new users. Note that the first two plans include an additional charge of $6 per employee, while the premium plan charges $9 per employee.

Once you’ve chosen a plan:

1. Navigate to “Settings” and select “Subscriptions and billing” under the “Your Company” section.
2. Locate “QuickBooks Payroll” and click “Subscribe.” If you don’t already have a credit card on file, you’ll be prompted to enter your payment information.
3. After subscribing, QuickBooks will guide you through entering your business details, including work locations and tax information.

How to process payroll in QuickBooks Online

QuickBooks Online Payroll makes managing payroll easier and more accessible than ever. With its cloud-based platform, you or your accountant can run payroll from anywhere in five easy steps, whether at the office, at home, or on the go!

Step 1: Confirm employee information and set up pay schedules

First off, verify the following employee information:

1. Personal information, including full name, address, and phone number.
2. Tax details, including Social Security Number or Employer Identification Number, tax deductions, or exemptions (ensure compliance with local labor laws).
3. Employment status, including job title, employment type, and pay rate.
4. Banking information (for direct deposit setup).
5. Benefit information, including health insurance, retirement plans, or other benefits

While not necessary, it’s smart to set up a pay schedule for more efficient payroll:

1. Go to the “Payroll” tab on the left-hand menu and select “Employees.”
2. In “Employment details,” click “Start” or “Edit.”
3. From the “Pay schedule” dropdown, select the pay schedule for the employee moving forward. Or, to create a new pay schedule, select “+ Add pay schedule.”
4. Fill out the appropriate fields to determine how often they are paid (weekly, bi-weekly, semi-monthly, or monthly) and hit “Save.”

Image credit: QuickBooks

Once that’s done, you’ll input employee wages, benefits, and deductions. Then, you can track work hours, approve time, and let QuickBooks calculate your paychecks. When payday arrives, you only review and process the payments.

QuickBooks also handles payroll taxes for certain plans by filing them automatically for you! However, users of Basic or lower-tier plans may need to file taxes manually. 

Step 2: Confirm additional details like salary, memos, and hours

In the “Payroll” tab, select the employee whose information you want to update or confirm. On their profile page, you can easily check and edit their salary details if they are salaried employees, ensuring that the annual salary amount is correctly entered. For hourly employees, you’ll want to confirm the hourly rate and input the number of hours worked for the pay period. 

Image credit: QuickBooks

You can also add memos or notes in designated fields to provide context or reminders related to specific payroll entries. 

Step 3: Preview payroll

Having made all necessary adjustments in the previous step, it’s time to review all the details before you finalize payments. Double-check employee hours, wages, tax deductions, and any benefits or adjustments to be sure everything is in order.

With pay schedules in place, proceed to create and send payroll. In the “Run payroll” section, select the employees you want to pay. Verify that the pay period and pay date are correct.

For hourly employees, enter their hours worked. For salaried employees, confirm their salary amounts. Once everything is accurate, click “Preview payroll” to review all details.

Image credit: QuickBooks

Pay attention to this review to avoid overpayments, underpayments, or incorrect tax filings, and ensure your team is paid correctly and on time.

Step 4: Submit payroll

Submitting payroll in QuickBooks Online is the last step in processing your reviewed information — employee wages, hours, deductions, and taxes. Once you submit, QuickBooks swoops in, distributing payments via direct deposit or checks, if configured.

All you have to do now is click “Submit payroll.” If paying by direct deposit, ensure that all bank account information is correct and submit payroll at least two business days before the pay date to ensure timely payments. For paper checks, QuickBooks provides an option to print them directly from the platform. Following these steps ensures a smooth payroll process for your business.

For eligible plans (e.g., Premium or Elite), QuickBooks can automatically file tax forms upon submission, making your business appear responsible and helping you avoid penalties. Note that automatic features may not apply to all employees (e.g., those with variable hours).

Step 5: Fix errors

To correct payroll mistakes in QuickBooks whenever they occur, review each entry carefully to identify variables in the payroll that contain the mistakes — like inaccurate wages, hours, or deductions.

To correct payroll mistakes in QuickBooks whenever they occur:

1. Identify variables causing errors (e.g., incorrect wages or deductions).
2. Navigate to the specific payroll entry requiring correction.
3. Edit directly or reverse transactions if necessary.
4. Re-submit only after verifying corrections (do not re-submit unless you check the new entries first!).

Promptly fixing mistakes can help save you from tax filing problems, maintain employee trust, and keep your records clean.

Key steps for processing payroll in QuickBooks Desktop

QuickBooks Desktop payroll offers many of the same features as its online counterpart but with a more traditional software setup. Unlike QuickBooks Online, which is cloud-based and accessible from anywhere, QuickBooks Desktop requires installation on a specific computer and can be used offline. 

While both versions help businesses process payroll, the Desktop version may appeal to businesses with complex needs like job costing or tracking multiple pay schedules. Let’s explore the key steps involved in processing payroll using QuickBooks Desktop.

QuickBooks Desktop offers you three options:

• Basic Payroll.
• Enhanced Payroll.
• Assisted Payroll.

Basic Payroll allows you to calculate payroll manually and print paychecks, while Enhanced Payroll offers additional features like direct deposit and tax calculations. Assisted Payroll provides full-service payroll, where QuickBooks handles tax calculations, filings, and payments on your behalf. Choose the one that best aligns with the level of support and automation your business requires.

Step 1: Advance to the payroll section in QuickBooks

Open the software and navigate to the top menu bar. From there, select the “Employees” option, which will drop down a menu where you can choose “Payroll Center.”

Image credit: QuickBooks

This will take you to the payroll dashboard, where you can manage your payroll tasks, including running payroll, adding employees, and viewing past payroll transactions. 

Image credit: QuickBooks

Step 2: Choose the specific type of payroll

From there, you can go to the “Employees” tab to the “Pay Employees” menu. You’ll see options for “Scheduled Payroll,” “Unscheduled Payroll,” and “Termination Check.”

“Scheduled Payroll” is the most efficient option and requires the least amount of manual effort down the road.

Image credit: QuickBooks

Step 3: Input payroll information

Start by entering details for each employee. This includes basic personal information, pay rates, tax filing status, and benefits or deductions. Then, verify the employee’s Social Security number and tax details. Next, input hours worked, overtime, bonuses, or commissions for the payroll period.

Image credit: QuickBooks

Step 4: Review and prepare paychecks

Carefully check each employee’s pay details, including hours worked, overtime, deductions, and tax calculations. Ascertain that all information matches your records and correct any discrepancies. Review wages, taxes, and net pay totals to ensure compliance with tax regulations and prevent costly errors. Once confirmed, prepare paychecks by selecting the payment method — direct deposit or printed checks. 

Step 5: Confirm payroll

Confirmation is the final step in this process. This is where you officially approve and process payroll. Before confirming, double-check all details, including:

• Employee pay amounts.
• Tax withholdings.
• Payment dates.

Image credit: QuickBooks

Once confirmed, QuickBooks processes the payroll, initiates direct deposits, and generates paychecks or printable stubs if needed. This step finalizes payroll and submits necessary data to the system, ensuring employees are paid accurately and on time while maintaining compliance with tax regulations.

Scheduled vs. unscheduled payroll in QuickBooks

Scheduled payroll is like clockwork — it happens on a set routine, whether weekly, bi-weekly, or monthly, ensuring employees always get paid on time. It’s great for salaried or hourly workers with consistent schedules. 

Unscheduled payroll, though, is more of a “just-in-time” solution. It’s used for one-off situations like bonuses, corrections, or last-minute adjustments outside the regular cycle. It’s important to note that it may incur additional fees depending on your plan.

Think of scheduled payroll as predictable and structured, while unscheduled payroll is flexible and there when you need it for those unexpected moments.

Key takeaways

Now that you’ve learned how to do payroll in QuickBooks, here are a few best practices to keep in mind while processing payroll for your business:

• Ensure all employee details are complete and accurate, including personal information, tax forms (W-4 for employees, W-9 for contractors), and banking information for direct deposits.
• Save a secure copy of your QuickBooks file before making payroll runs to prevent data loss.
• Decide on a weekly, bi-weekly, or monthly payroll frequency that suits your business, and stick to it to maintain consistency.
• Always preview payroll details before finalizing to catch any discrepancies in hours, wages, or deductions to avoid costly errors.
• Review and update your payroll settings regularly to reflect any changes in tax laws or rates to ensure compliance and avoid penalties.
• Use QuickBooks’ automated features (if available) to calculate payroll taxes and filing requirements, saving time and reducing the risk of errors.
• Integrate a reliable time-tracking system to accurately record employee hours worked, which is essential for correctly calculating wages and overtime.

Interested in making payroll even easier?

With Method CRM, your employees’ hours sync directly to QuickBooks in real time—no more manual entry, no missed time. If you’re dealing with commissions, Method’s customizable reports calculate them for you, so you can ditch the spreadsheets and save hours.

The result? Everything stays up to date and accurate. Check out our video below for a closer look at what you can do with Method.

How to process payroll in QuickBooks FAQs

What is an unscheduled pay run?

An unscheduled pay run is a payroll process conducted outside the regular payroll schedule to address payments that cannot wait for the next cycle. It is commonly used for situations such as paying bonuses, commissions, correcting missed payments, or issuing final paychecks to terminated employees. This process ensures employees receive timely and accurate compensation in exceptional circumstances.

What are the different payroll options available in QuickBooks?

QuickBooks offers several payroll options tailored to different business needs:

• QuickBooks Assisted Payroll: A feature of QuickBooks Desktop that takes care of the entire payroll process for you, including tax payments and filings.
• QuickBooks Online Payroll: Includes three plans—Core, Premium, and Elite. These plans offer varying levels of automation and HR support, with Elite providing advanced features like tax penalty protection and personalized assistance.
• QuickBooks Desktop Payroll: Offers Basic, Enhanced, and Full-Service plans. Basic covers payroll processing but excludes tax filing, while Enhanced adds tax filing capabilities. Full-Service handles all aspects of payroll, including taxes.

Is it possible to set up automatic payroll in QuickBooks?

Yes, QuickBooks allows you to set up automatic payroll for eligible employees. This feature is available in QuickBooks Online (not Desktop) and is ideal for salaried employees or hourly employees with consistent schedules. Once configured, QuickBooks automatically calculates wages, taxes, and deductions and processes direct deposits on schedule.

To enable Auto Payroll, you must complete your initial payroll setup in QuickBooks Online, select eligible employees for automatic processing, and ensure all tax information is accurate. This feature streamlines payroll management while maintaining accuracy and reliability.

The post How to process payroll in QuickBooks: Easy steps appeared first on Method.

The short answer is that after September 30, 2024, Intuit will no longer be selling QuickBooks Desktop.

But what does that mean, and what are the specific details Intuit has provided so far? And most importantly, where do you go from here?

This article will guide you through everything you need to know about the QuickBooks Desktop discontinuation and your options moving forward.

Let’s get started!

What does service discontinuation mean?

Is QuickBooks Desktop being phased out? Yes, service discontinuation means that Intuit will no longer provide updates, support, or sales for specific versions of QuickBooks Desktop. This includes critical security patches and updates, making it essential for users to consider their next steps.

Is QuickBooks Desktop going away?

You may be wondering: is Intuit discontinuing QuickBooks Desktop in its entirety, or does QuickBooks still have a desktop version? While QuickBooks Desktop will no longer be sold or supported for certain versions in the near future, QuickBooks Desktop Enterprise products will remain available as Intuit’s sole desktop accounting solution.

That being said, for all intents and purposes, QuickBooks Desktop as it’s evolved over the years will soon be obsolete. Since December 10th, 2021 — when Intuit switched Desktop to a subscription-only service and did away with one-time purchases — QuickBooks Desktop’s days have been numbered.

To learn more, keep reading or check out our video below.

What led to QuickBooks Desktop being discontinued?

QuickBooks discontinuing Desktop is part of Intuit’s broader strategy to focus on cloud-based solutions. The reasoning for this is driven by several factors:

• Technological advancements: By focusing on newer versions and cloud-based solutions, Intuit can offer more advanced capabilities and ensure compatibility with modern operating systems and hardware.
• Resource allocation: Intuit is prioritizing fewer versions of its products to dedicate resources to enhancing features, improving security and compliance, and providing timely support for the most current versions.
• Cost savings and profitability: Maintaining older, one-time purchase software versions is costly, and shifting to cloud-based solutions like QuickBooks Online provides a more predictable and stable subscription-based revenue stream. Cloud solutions also offer higher profit margins, easier updates, and better opportunities for upselling premium features.

When does QuickBooks Desktop service discontinuation take effect?

But exactly when is QuickBooks Desktop going away? Initially set for July 31, 2024, the discontinuation date has been extended to September 30, 2024 and only applies to US subscribers. This gives QuickBooks Desktop customers a bit more time to plan their transition.

What specific products will Intuit no longer be selling/supporting?

The discontinuation affects most QuickBooks Desktop versions, including:

• QuickBooks Desktop Pro.
• QuickBooks Desktop Premier.
• QuickBooks Desktop Mac.
• QuickBooks Desktop Enhanced Payroll.

Will current subscriptions to QuickBooks Desktop be discontinued?

While new customers cannot purchase these versions after the cut-off date, existing QuickBooks Desktop subscriptions will not be discontinued. 

This means those who have already subscribed to QuickBooks Desktop Pro Plus, Premier Plus, Mac Plus, and Desktop Enhanced Payroll can continue to maintain and renew their subscriptions beyond the cut-off date of September 30, 2024. Intuit will continue to provide security updates and support for these existing subscriptions.

Keep in mind that down the road, current subscriptions can and likely will be discontinued eventually. 

Is QuickBooks Enterprise affected by this change?

QuickBooks Enterprise will continue to be supported and sold. Both new and existing customers can continue to purchase and renew QuickBooks Enterprise subscriptions after the date of discontinuation.

QuickBooks Desktop sunset: What’s next?

As we approach the QuickBooks Desktop end of life period, you need to prepare for the future. Here’s a detailed guide with your three primary options to help you navigate this transition smoothly.

Option 1: Upgrade to QuickBooks Desktop Enterprise

Users of QuickBooks Desktop Pro, Premier, Mac, and Enhanced Payroll can consider upgrading to QuickBooks Desktop Enterprise. 

This version offers enhanced features, such as the ability to handle larger data files and support for up to 30 simultaneous users. 

QuickBooks Desktop Enterprise also includes advanced reporting capabilities and customizable dashboards for all of its Gold, Platinum, and Diamond versions. It also fully includes QuickBooks Desktop Payroll options if you’re worried about losing access to Enhanced Payroll.

To upgrade, ensure your systems meet the necessary requirements and consider consulting an IT professional for network setup or a QuickBooks ProAdvisor for assistance with data migration.

Option 2: Switch to QuickBooks Online

For those ready to move to the cloud and discover the latest critical security patches and updates from Intuit, you can move from Desktop to QuickBooks Online. Intuit offers a seamless transition with these four steps:

1. Prepare and export your data

Back up all your data to ensure nothing is lost during the transition. Here’s how:

1. Ensure your QuickBooks Desktop software is up to date. Press F2 to check your current version.
2. Look for your product name, product number, and license number in the Product Information window.

Image credit: QuickBooks

3. Update your QuickBooks version if necessary (while on the “No Company Open” screen, find the “Help” menu and select “Update QuickBooks Desktop”).
4. Press Ctrl+1 to check the total targets. If your file exceeds 750,000 targets, you may need to reduce the file size by condensing data or start fresh in QuickBooks Online.

Image credit: QuickBooks

5. Print a copy of your Sales Tax Liability report. Go to Reports > Vendors & Payables > Sales Tax Liability, select All Dates, and save it as a PDF.

Image credit: QuickBooks

6. To prepare payroll data, terminate or deactivate employees who are no longer working for you and ensure all recent payroll data is transferred by waiting 2-3 days after running payroll before moving your data.

2. Plan the migration

Create a detailed migration plan to minimize disruption to your business operations when you move to QuickBooks Online.

Choose a time for the migration that minimizes business disruption, preferably after-hours or on a weekend.

If necessary, consult an IT professional for network setup and a QuickBooks ProAdvisor for data migration assistance.

3. Choose a payment plan

Select a payment plan that fits your business needs.

QuickBooks Online offers several plans: 

• Simple Start: $30 per month.
• Essentials: $60 per month.
• Plus: $90 per month.
• Advanced: $200 per month.

Compare the features and pricing to determine the best fit for your business needs.

You can either sign up for a 30-day free trial or take advantage of any promotional discounts. Visit the QuickBooks Online website or contact their sales team for assistance.

4. Convert your data

The last step is to export and convert your data. Here’s how:

1. Log in as an admin, go to Company > Export Company File to QuickBooks Online.

Image credit: QuickBooks

2. Select “Get Started,” and then click “Start export” when prompted.

Image credit: QuickBooks

3. Sign in to QuickBooks Online as an admin and choose the company to replace in the “Choose online company” drop-down menu.
4. Click “Continue” and enter “Agree” in the text field. 
5. Choose “Replace” and confirm by clicking “Yes, go ahead and replace the data.”
6. If you track inventory, select “Yes” to carry that data over, then specify the “as of” date. Or, select “No” if you want to set up items later (only available in Plus and Advanced).
7. Connect your bank accounts and set up any additional features required for your business operations.

QuickBooks Online vs. Desktop: What’s the difference?

QuickBooks Online offers cloud-based accessibility, automatic updates, and real-time collaboration. On the other hand, QuickBooks Desktop provides a more traditional, standalone software experience.

QuickBooks Online’s advantages include:

• Cloud-based accessibility for access anywhere, any time.
• Ease of use.
• Over 750 third-party supported integrations.
• A mobile app.
• Automatic updates and security.

That said, it also has its disadvantages:

• Limited advanced features (i.e., advanced inventory management and job costing​​​​).
• User limitations (25-user maximum).

In contrast, QuickBooks Desktop strikes a different balance of pros and cons. Here are some of its advantages:

• Advanced features for inventory management, job costing, and industry-specific reporting.
• Local installation, which can be preferable for businesses that require more control over their data and/or do not always have reliable internet access​​.
• Detailed, customizable reporting tools (i.e., the QuickBooks Statement Writer for GAAP compliance).

Its disadvantages include:

• Lack of accessibility.
• Integration limitations.
• Discontinuation for new users.
• Higher cost.

What if QuickBooks Online doesn’t meet all my needs?

If QuickBooks Online doesn’t meet all your needs, don’t worry — you have other options. Evaluate your specific requirements, such as: 

• Advanced inventory management.
• Industry-specific features.
• Particular integrations that you need. 

You might find that QuickBooks Desktop Enterprise suits your needs better. Or, you might consider other accounting platforms outside the QuickBooks ecosystem. Consider consulting with an accounting professional to help identify the best solution for your business.

Option 3: Migrate to another accounting platform, like Xero

You may choose to switch to a bookkeeping or accountant software not associated with Intuit. If you’re considering alternatives to QuickBooks, Xero is a robust accounting platform worth exploring.

Image credit: Xero

Xero offers a range of features, including: 

• Real-time financial data.
• Comprehensive reporting.
• Seamless integrations with numerous third-party apps. 

Its user-friendly interface and cloud-based accessibility make it an excellent choice for businesses looking for flexibility and scalability. 

Is QuickBooks Desktop still available before the sunset period?

Yes, QuickBooks Desktop is still available for purchase before the sunset period. Intuit will continue selling new subscriptions for QuickBooks Desktop Pro Plus, Premier Plus, Mac Plus, and Enhanced Payroll until September 30, 2024.

How do I purchase QuickBooks Desktop Plus (Pro, Premier, or Mac) or Desktop Enhanced Payroll before the cut-off date?

If you need to purchase these products before the cut-off date, you can contact Intuit’s sales team or call them at 1-888-829-8589. You can no longer purchase them online the traditional way.

If you are looking to purchase an older version of Desktop, be aware that the QuickBooks 2021 end of life date has passed (May 31, 2024). Because QuickBooks Desktop 2021 discontinued before the cut-off date, you can no longer purchase or find support for any versions from that year. 

The future of QuickBooks Desktop

The future of QuickBooks Desktop will focus primarily on supporting existing subscribers rather than attracting new ones as Intuit further stresses cloud-based solutions and a SaaS (software-as-a-service) pricing model.

Experts speculate that QuickBooks Desktop Enterprise is the next to go, once the functionality of QuickBooks Online is able to catch up to Desktop’s robust offerings. That said, there is currently no official indication from Intuit that this will happen anytime soon.

How Method can help

If you’re looking to retain your QuickBooks Desktop functionality and gain remote access, consider integrating with Method.

Method ensures you receive the latest critical updates and security patches while automating key workflows, such as: 

• Estimating and invoicing, 
• Communications.
• Collecting customer payments.

Even after discontinuation, Method stays integrated with QuickBooks Desktop to give you anywhere access and ongoing support.

Recap: Is QuickBooks Desktop being discontinued?

With QuickBooks Desktop discontinued, you need to have a continuity plan in place for your current processes. Whether it’s subscribing before the cut-off date, switching to Enterprise or Online, or migrating to a different accounting software, it’s important to have a strategy ready before it’s too late.

Remember that:

• Intuit will stop selling new subscriptions for QuickBooks Desktop Pro Plus, Premier Plus, Mac Plus, and Desktop Enhanced Payroll after September 30, 2024.
• Existing subscribers of these QuickBooks versions can continue to renew their subscriptions beyond the cut-off date. This means you also still have time to purchase subscriptions for them if you are not yet signed up.
• For the time being, Intuit will also continue to provide security updates, product updates, and support for these existing Desktop subscriptions.
• QuickBooks Desktop Enterprise will not be affected by this discontinuation and will remain available for purchase and support. 

QuickBooks Desktop discontinued FAQs

How do I know what QuickBooks Desktop version I’m currently using?

To check your QuickBooks Desktop version, press the F2 key or Ctrl+1 on your keyboard to open the “Product Information” window. Here, you’ll see your product name, product number, license number, version, and release information.

What if I am not currently on a supported version of QuickBooks Desktop?

If you’re not currently on a supported version of QuickBooks Desktop, you won’t have access to live technical support, security updates, payroll processing, and other integrated features like online banking and payments. 

If you want these features, you’ll need to upgrade to a supported version as soon as possible, or consider transitioning to QuickBooks Online or QuickBooks Desktop Enterprise. If these features are unimportant to you, you can stay on your unsupported version.

Can I renew a suspended QuickBooks Desktop Plus subscription?

Yes, you can renew a suspended QuickBooks Desktop Plus subscription, provided you do so before the discontinuation cut-off date. If your subscription has been suspended due to non-payment or other issues, you will need to reactivate it to regain full access to your data and features.

Here are the steps to renew a suspended subscription:

1. Open QuickBooks Desktop and log in with your admin credentials.
2. Go to the Settings menu, then select “Subscriptions and billing.”
3. Find your QuickBooks plan and select “Resubscribe.” 
4. Enter the updated billing information and confirm your payment details.

You will have a grace period of 30 days to renew your subscription after receiving the final notice of suspension. If your subscription remains unpaid after this period, you will only have view-only access to your data for a limited time

How long do I have to resolve any billing or payment issues?

You have until the discontinuation date, September 30, 2024, to resolve any billing or payment issues related to QuickBooks Desktop.

With QuickBooks Desktop discontinued, see how Method helps your business stay afloat.

The post QuickBooks Desktop discontinued: Next steps for Desktop users appeared first on Method.

Based on our own firsthand experience, one of the most important is your approval process.

In this blog post, you will answer questions such as:

• Does QuickBooks Desktop have an approval process?
• How can I set up a custom approval process in QuickBooks?
• How can I manage approval requests?

Continue reading to learn what limitations QuickBooks Desktop presents to the approval workflow process and how you can overcome them.

Does QuickBooks Desktop have an approval process?

After putting it to the test, the short answer to, “Does QuickBooks Desktop have an approval process?” is no. Well, not really.

While it is possible to set up custom bill approvals if you are a QuickBooks Desktop Enterprise user, it isn’t comprehensive. For example, you can only set up an invoice approval workflow in QuickBooks if you are a QuickBooks Online Advanced user.

So, unless you use either of these solutions, you should look into alternative options for approvals, including:

• Purchase order approvals.
• Estimate approval workflows.
• Customer approvals.

As a QuickBooks Desktop Enterprise user, here’s how to set up custom bill approvals. You need to create a vendor profile and assign an approver to get started.

From there, set your specific configurations. The approver you assign will receive a notification once an invoice is ready, which they can then approve or reject.

Note that you can set a dollar limit for bills that require approval in QuickBooks Desktop Enterprise. You can also create a custom workflow by setting conditions based on a vendor or specific customer.

This is as far as you can go with customizable approval rules in QuickBooks without the help of other solutions. QuickBooks has a basic functionality when it comes to this process, but there are ways to work around this!

How to set up custom approval workflows in QuickBooks Desktop Enterprise with Method

If you’re looking for a way to simplify your QuickBooks Enterprise approval workflow, Method CRM is your best bet. With Method, you can manage your:

• Levels of control.
• User access.
• Approval reminder emails.
• Real-time approvals.
• Multi-condition approval workflows.
• Workflow approval process.
• Approval status.

Method’s drag-and-drop interface lets you design an approval workflow from scratch or personalize a pre-made approval template in QuickBooks Desktop Enterprise for any number of approvers to sign off on before they are processed. This gives you complete control over your financial processes.

Method CRM lets you set up approval rules for specific:

• Bills.
• Invoices.
• Purchase orders.

This is how it looks:

You can also add conditions to your workflows, such as requiring the approval of a specific budget line item or department head before processing an invoice or bill. This approval feature lets you delegate everyday tasks to focus on the big picture.

QuickBooks approval workflow for bills and purchase orders

1. Log into your account as an admin.
2. Navigate to “Company” and choose the option “Set Up Approval Processes.”
3. Click on “Get Started,” then select “Set up” on the purchase order/bill template option.
4. Fill in the process’s name and provide a detailed description.
5. Specify the criteria for triggering the approval process for purchase orders/bills, such as conditions related to amount, vendor name, vendor type, etc.
6. Select the name of the person responsible for approvals and enter their email address. The email’s subject and body text are customizable.
7. To activate the approval process for all newly issued purchase orders/bills, click “Save & Activate.”

What about other versions of QuickBooks Desktop?

QuickBooks Desktop has several versions, Enterprise being the most advanced. Starting September 30, 2024, Intuit will stop selling all versions of QuickBooks Desktop except for Enterprise. This includes: 

• Pro Plus.
• Premier Plus.
• Mac Plus.
• Enhanced Payroll.

However, customers who use these versions will still receive updates and support. Nothing changes for existing users.

This is why it’s crucial to set up an approval process for Quickbooks Desktop. That way, you’ll be able to manage your processes and permissions without any hitches.

Beyond approvals: Other ways to achieve QuickBooks Desktop automation

Automation is a key part of any business process. It:

• Saves you time.
• Eliminates tedious manual processes.
• Ensures you complete tasks consistently and accurately.

QuickBooks Desktop has some automation features for transactions and scheduled reports. However, these aren’t enough for complex workflows.

So: Does QuickBooks Desktop have an approval process? Our investigation demonstrated that the answer is not quite — and that’s not the only automation feature it’s lacking.

Fortunately, integrated solutions like Method CRM help you achieve the level of automation you need for your QuickBooks Desktop account.

Method seamlessly integrates with QuickBooks to provide a range of automation tools. With it, you can automate your QuickBooks Desktop approval workflow and any other processes.

Below is a preview of what’s possible with Method CRM:

Final thoughts: Does QuickBooks Desktop have an approval process?

Although QuickBooks offers some automation features, these are not available to users of all Online and Desktop plans.

Instead, they are reserved for QuickBooks Desktop Enterprise or QuickBooks Online Advanced users. And even then, they are limited.

If you need a more complete approval workflow in QuickBooks Desktop, then Method CRM is the way to go.

Get started with youra free trial of Method today!

Photo credit: Elina via Pexels

The post Does QuickBooks Desktop have an approval process? Top QuickBooks approval workflow tips appeared first on Method.