How do I export a multicurrency company from Quickbooks Online to QuickBooks Enterprise Solutions 16 Desktop without all accounts being forced to USD?
the export to desktop (US Only) provides you with a file that must be opened in desktop within 10 days, and the file has known problems, some things do not export, inventory exports as service items with no history, payroll if you have it is exported as regular paychecks, these known problems have existed for over 7 years
print out the QBO P&L, balance sheet, inventory valuation summary (if you have inventory), and sales tax liability as a minimum, compare the QBO reports to the same reports in desktop after you have a desktop company file – they must match, if not you have to find and correct the problems, intuit will not help
IMO if at all possible, it would be better to just re-enter all transactions in desktop.
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Follow the given steps below:
Step 1: Run the conversion process
- Start the process in your QuickBooks desktop software.
- Windows: Choose Company > Export Company File to QuickBooks Online
- Mac: Choose File > Export > To QuickBooks Online
- If you have already created a QuickBooks Online file, sign in. Otherwise, click “Create an account.”
Note: If you’re using QuickBooks Online Accountant, we recommend creating your client’s file in QuickBooks Online Accountant first.
- If you’re not using the latest version of QuickBooks desktop, you may be asked to confirm your home currency. Select the same home currency as the one you are using in QuickBooks desktop, and click Continue.
- Continue to follow the onscreen instructions to complete the process. You’ll receive an email once your file has been successfully exported to QuickBooks Online.
Step 2: Check your new QuickBooks Online file
- Sign in to QuickBooks Online.
- Confirm your home currency is set to the same as your home currency in your QuickBooks desktop file. Click the Gear > Currencies.
- Compare your “Exchange Gain or Loss” reports to ensure your data has imported correctly:
- Click the Gear > Chart of Accounts.
- Enter “exchange” in the search box.
- For the account Exchange Gain or Loss, click Run report.