Convert An Accountants Copy To A Regular Company File
QuickBooks requires effective financial record management and accountant collaboration to provide accurate financial statements. QuickBooks provides the Accountant’s Copy for this. Accounting professionals may change and evaluate financial data in this specific business file without disrupting accounting. Sometimes an Accountant’s Copy must be converted to a business file. This article discusses converting an Accountant’s Copy to a QuickBooks business file and its steps.
What is QuickBooks’ Accountant’s Copy?
QuickBooks’ Accountant’s Copy streamlines company owner-accountant workflow. An accountant may review and enhance a business owner’s company file using an Accountant’s Copy. Accountant may work on file copy while firm owner operates. QBX is Accountant’s Copy’s file type.
Accountant’s Copy to Regular Working File: Steps
Converting an Accountant’s Copy to a business file requires many stages. This technique integrates the Accountant’s revisions into the standard file and enables it to be utilized for financial management. The instructions are here:
Step 1: QuickBooks Accountant Edition
Install QuickBooks Accountant Edition first. QuickBooks for accountants has functionality for reviewing and adjusting financial records. Purchase this edition or use a version that supports Accountant’s Copy if you don’t have it.
Step 2: Accountant’s Copy to Regular Working File
- Launch QuickBooks Accountant Edition on your PC.
- Open accountant-provided. Copies of QBX accounts.
- QuickBooks will prompt you to convert the Accountant’s Copy when you open it. Save as a QuickBooks company file (.QBW) following on-screen directions. With this conversion, all accountant changes are in the new file.
- Save New File: Select a place on your computer to save the converted file and name it. Avoid overwriting the Accountant’s Copy file. The Accountant’s revisions will be in the new QuickBooks business file.
Step 3: Configuring the Client’s Books
After converting the Accountant’s Copy to a business file, there are a few further procedures to set the client’s books:
- Check Changes: Open the new .QBW file and evaluate the Accountant’s adjustments. Check that all adjustments were made and that the file contains proper financial data.
- Make sure your QuickBooks version is current: Avoiding compatibility problems and ensuring all functionalities operate with the freshly converted file is crucial.
- Back up File: Before making modifications, back up the converted file. This precaution safeguards your data against future alterations.
- Continue. You may restart normal accounting with the revised Accountant’s Copy when it’s converted and confirmed. This keeps financial records updated and correct.
Changing Accountant’s Copy to Changes in .QBY Format
Occasionally, you must update the Accountant’s Copy to include .QBY updates. Accountant updates are imported into corporate files using this format. How to handle this process:
- Receive the Accountant’s revisions: Your Accountant will send you a .QBY file with their revisions.
- Normal Company File: Implement the Accountant’s adjustments in QuickBooks’ normal company file.
- Changes by Import Accountant: From the “File” menu, choose “Accountant’s Copy,” then “Import Accountant’s Changes .QBY File.” Follow the instructions to import the modifications from your Accountant .QBY file.
- Review Changes: Check modifications after importing for correctness. QuickBooks normally provides a change summary for evaluation.
- Save Updated File: For data security, save and backup the file with modifications.
Winding Up!
For any accounting modifications to be smoothly incorporated into your bookkeeping, convert an Accountant’s Copy to a QuickBooks business file. You can easily manage the changeover and keep correct financial records by following the procedures. This method requires QuickBooks Accountant Edition and verification of all changes before beginning accounting. Keeping QuickBooks updated and backing up your information is also important for financial data security and seamless operations.
This complete strategy can help you maintain your accounting records and work with your Accountant, improving your financial management accuracy and integrity.