A number of people ask, “Can QuickBooks Enterprise be converted to QuickBooks Online?” The answer is yes! Transitioning from QuickBooks Enterprise to QuickBooks Online is a great option for businesses that want the convenience of cloud-based accounting. With QuickBooks Online’s easy accessibility, intuitive interface, and flexibility, converting is a simple process that offers enhanced functionality for businesses on the go. In this guide, we’ll walk you through how to make the switch seamlessly.
Why Convert QuickBooks Enterprise to QuickBooks Online?
1. Cloud Access
QuickBooks Online operates in the cloud, meaning you can access your accounting data from anywhere, anytime. This feature is especially helpful for businesses with remote teams or those constantly on the move.
2. Simplified User Experience
QuickBooks Online boasts an intuitive interface designed for ease of use. Whether you’re managing invoices, payroll, or reports, QuickBooks Online offers a streamlined experience compared to the more feature-dense QuickBooks Enterprise.
3. Scalability
QuickBooks Online is scalable, making it a good choice for businesses experiencing growth. Whether you’re managing a startup or an expanding company, QuickBooks Online grows with your business needs.
4. Automatic Updates
One of the significant advantages of QuickBooks Online is automatic software updates. Unlike QuickBooks Enterprise, which requires manual updates, QuickBooks Online stays current without any extra effort from your end.
Steps to Convert QuickBooks Enterprise to QuickBooks Online
1. Prepare Your QuickBooks Enterprise File for Conversion
Before converting, it’s essential to ensure that your QuickBooks Enterprise file is ready for the transition. This step involves reviewing the data and cleaning up any inconsistencies. Follow these tips:
- Reconcile Accounts: Make sure all bank accounts and credit card accounts are reconciled.
- Review Data: Ensure there are no outstanding transactions or errors in your QuickBooks Enterprise file.
- Back-Up Your File: Always create a backup of your company file before starting the conversion process.
2. Sign Up for QuickBooks Online
If you don’t already have a QuickBooks Online account, you’ll need to sign up. There are different subscription plans depending on the size and needs of your business. Select the plan that best fits your organization and sign up for an account.
3. Export Your Data from QuickBooks Enterprise
To begin the actual conversion process, you’ll need to export your QuickBooks Enterprise data to QuickBooks Online. QuickBooks provides a built-in tool to facilitate this process:
- Open QuickBooks Enterprise.
- Navigate to Company > Export Company File to QuickBooks Online.
- Follow the on-screen instructions to export the file.
If your company file is large, the process might take some time. Be patient, as this is normal, especially with more data to transfer.
4. Complete the Setup in QuickBooks Online
Once the export is complete, you’ll need to finalize the setup in QuickBooks Online. QuickBooks will guide you through several steps to verify the data and ensure it transferred correctly.
- Check Account Balances: Compare your QuickBooks Enterprise balances to your new QuickBooks Online balances to confirm the accuracy of the conversion.
- Customize Settings: Adjust your preferences for invoices, sales, and company information within QuickBooks Online.
5. Invite Users and Assign Roles
After the conversion, invite your team members and assign roles to users within QuickBooks Online. QuickBooks Online allows you to control access and permissions, ensuring that only the right individuals can access sensitive data.
Things to Consider When Converting from QuickBooks Enterprise to QuickBooks Online
While the conversion process is straightforward, there are a few things to keep in mind:
1. Data Limitations
Some data, such as audit logs and custom fields, may not convert from QuickBooks Enterprise to QuickBooks Online. Before the transition, review QuickBooks’ data limitations to ensure you’re aware of what might not carry over.
2. Inventory Management
QuickBooks Online handles inventory differently than QuickBooks Enterprise. If your business relies on advanced inventory features, you may need to use a third-party integration to maintain the same level of inventory control.
3. File Size Restrictions
QuickBooks Online has limitations on file size, which can affect businesses with extensive data. If your QuickBooks Enterprise file is particularly large, consider reaching out to QuickBooks support for assistance or splitting the file before conversion.
4. Third-Party Apps
Ensure that any third-party apps or integrations you rely on in QuickBooks Enterprise are compatible with QuickBooks Online. Some integrations may need to be reconfigured after the conversion.
Benefits of QuickBooks Online Over QuickBooks Enterprise
1. No More Manual Backups
QuickBooks Online automatically backs up your data, reducing the risk of losing important financial information. You no longer need to remember to create manual backups, offering peace of mind.
2. Collaborate in Real-Time
With QuickBooks Online, multiple users can work on the same file simultaneously, streamlining collaboration between team members, accountants, and stakeholders. This feature is particularly useful during tax season or when preparing financial reports.
3. Mobile Access
QuickBooks Online offers mobile app functionality, allowing you to manage your accounting tasks on the go. From sending invoices to checking balances, you can access key data from your smartphone or tablet.
4. Subscription-Based Pricing
QuickBooks Online operates on a subscription model, so there’s no need for costly upfront software purchases or upgrades. As new features are released, they are automatically available to you without additional fees.
5. Compliance and Security
With QuickBooks Online, you benefit from QuickBooks’ high-level security measures, such as encryption and compliance with global security standards. Your data is securely stored and monitored 24/7 by Intuit, ensuring protection from cyber threats.
Final Thoughts
Converting from QuickBooks Enterprise to QuickBooks Online can be a smooth process when handled correctly. QuickBooks Online offers cloud-based convenience, automatic updates, and a more user-friendly experience, making it an excellent choice for growing businesses. By following the steps in this guide, you can confidently make the switch and enjoy the flexibility that QuickBooks Online provides.