Thank you for visiting again the QuickBooks Community, funnygirl238. Let me discuss how migrating your data from QuickBooks Online to QuickBooks Online works. Then, ensure you can perform some steps to successfully transfer your company file smoothly.
When you move from QuickBooks Online to QuickBooks Desktop, you may notice contrasts in how your books appear or things will look differently. That's the reason why your checking account balance doesn't match what was on the Online version and a few of your numbers on the Profit and Loss don't match.
To fix this, pull up again the Profit and Loss report in QBDT to compare it with what is on the QBO. Then, you'll have to run them on Accrual basis for them to match. That way, you're able to find out what information didn't transfer correctly and how the program computes the balance for invoices.
If they still don't match, this is usually a mismatch because of export limitations and the use of unsupported versions of Internet Explorer. To resolve this, you can convert your file again. Please know that converting a second time can fix this problem.
Here's how:
- Go to File in the Desktop version and select Close company.
- Go back and try to convert your file again.
- After it finishes, check the Profit and Loss reports again.
If the issue continues to occur, I recommend entering manual adjustments to fix balance discrepancies by creating a journal entry. Beforehand, I recommend consulting an accountant for additional assistance to ensure your records are in shipshape. They can offer advice on how to handle the transaction.
- Go to the Company menu and select Make General Journal Entries.
- Fill out the fields to create your journal entry. Then, make sure your debits equal your credits when you’re done.
- Click Save or Save & Close.
Lastly, I'm adding this article to further guide you in effectively managing your business using QBDT: Help guide for QuickBooks Desktop. It contains topics about advanced accounting, banking, and payments.
Let me know if there's anything else you need help with transferring data or any related concerns about QBDT. I'm always here to help you anytime. Take care and keep safe, funnygirl238.
