I have a similar scenario, but I use QuickBooks Online. I recently Incorporated and need to separate my business from my sole proprietor. I would like to keep my vendors and clients and items I bill. But, from reading this, it seems I may need to just start a new file and re-set it up. I don't want to loose the ability to run a report of my past sales if I ever need proof of income for home refinancing or something like that. How would I preserve the old data for safe keeping. I would need to close the old Quickbooks Online account. I do not have a desktop version to run if I exported the data. I am on a Mac and aware that I could export the data and use the desktop version if I was on a pc (before QuickBooks Online I used and app to run windows just for quickbooks!) Do you have any other solutions?