QuickBooks business files sometimes can become corrupted and there is no backup, but you have an Accountant’s Copy. QuickBooks may convert the Accountant’s Copy to a workable QuickBooks data file. However, any modifications you made to your company file after the Accountant’s Copy was prepared will have to be re-entered.
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QuickBooks lets you Convert your Company’s Working File to many types from a Portable File, Backup File to an Accountant’s Copy .QBA and .QBX to .QBW.
Today, in this blog we will show you a complete guide on how you can Convert QuickBooks Accountant Copy to Company File.
Converting Accountant’s Copy QuickBooks To Company File
Using QuickBooks Enterprise Accountant or Premier Accountant versions of QuickBooks desktop, QuickBooks helps you to effortlessly convert the file. This functionality is not available in other versions of the software. You will also be unable to generate an Accountant’s Changes file once the file has been converted to a business file. You Just have to re-enter any modifications you made to the original company file. When trying to open an accountant’s copy transfer file (QBX), the users get the QuickBooks reloads error.
To convert your Accountant’s copy to a Company file, carefully follow the instructions outlined below:
Step 1: To Change your Accountant’s Copy to a Company File
- First, Double-click your Accountant’s Copy (.QBA or QBX file) to open it.
- Then, to Save Your Data and prevent Data Loss, Make a Backup of the File Before proceeding.
- Now Select Send Company File from the File menu.
- Select Accountant’s Copy and then Convert Accountant’s Copy to Company File/QBW from the Drop-down menu.
- Once you Convert Your File then Just Confirm the Procedure by clicking OK.
- Now you will be prompted to Select a Location for the File to be saved.
- Select a Folder and Rename the File According to Your Preferences.
- After Renaming the File, Save Your File.
- Finally, Press the OK Button.
- A New File will be Created Where you can work as a Company File and you can make Changes to it without any Restrictions.
Step 2: To Change Your Accountant’s Copy to a Normal File
- First without having to Establish an Accountant File.
- Start using QuickBooks Select Accountant’s Copy from the File menu.
- Select Convert Accountant’s Copy to Company File from the Drop-down menu.
- Now, a New Window will Open After you Select the Convertor Option.
- Locate and open the Accountant’s Copy File you wish to Convert.
- On the screen, There will be a Dialogue Box that Explains the Procedure’s Restrictions.
- Then Hit OK after Rechecking the File you want to Convert.
- Once Done Choose a Location Where you wish to Save the Newly Converted File and then Rename the Chosen File.
- Now Under the “Save” as Type option, Select QBW as the File Extension.
- When you Click Save, the File will be Converted and you will be Notified When it is finished.
- Finally, Click the OK Button.
- Now you will have an a .QBW File Where you can work as a Normal File.
Step 3: To Change Accountant’s Copy as Accountant’s Changes (.QBY)
- First of all, Navigate to the File menu in QuickBooks.
- Now select Open and Restore Company from the drop-down menu.
- Then Choose the Next option after Selecting Convert an Accountant’s Copy Transfer File.
- Once you Select to Convert the File, an Overview of the File will be Sisplayed.
- Now After the File is Opened that you have Selected, Click Next.
- Then you will get an Overview of Your Selected File, Recheck the File.
- Once you have Rechecked the File, Click Next.
- Now Locate and Open the Accountant’s Copy File.
- Once the Accountant’s Copy is Opened, Confirm the Conversion and give the File a Name.
- Now, Save the File.
- You’ll have a Functioning File (.QBY) in Which you can make Changes Without any Restrictions.
Step 4: To Make Changes in Your Client’s Books
Your client’s information, including their lead accountant, is displayed in the client list. You’ll also be able to examine the current state of tasks such as tax preparation and returns QuickBooks can also help to make changes to your client’s books. You can do the following tasks using different Accountant Tools:
Account Balances Correction
This function shows the disparities in balances and offers how to rectify the opening balances by altering inputs.
There are no balances in Accountant’s Records for a previous review period when you use this function for the first time. When you finish the review after the first, the balances are preserved. You won’t have to manually input any balances after the second review. The remainder of the process is the same after the balances are entered, whether manually or automatically.
Prior Transactions Period Dates
In the fields at the top of the form, fill in the form and to dates, as well as the basis for the previous review period. The previous review period normally finishes one day before the next one begins. The review period however should not have the same length but the ending date should be current.
Enter or View Your Balances
The program will question you about copying the balances, and all you have to do is click Yes when the notification comes.
You may either input the balances manually or have the tool copy all of the balances from the Client’s File columns into the Balances in Accountant’s Records columns for the first review performed with this tool.
Consider the Differences
The sum of account-by-account variances between the Balances in Accountant’s Records and the Balances in Client’s File is revealed in the Difference columns in Client Data Review’s Troubleshoot Account Balances tool.
- All Transactions that are recorded in QuickBooks and Difference columns can be seen in Quick Zoom. All transactions by Account report for the specified account appears when you open the Quick Zoom.
- The CDR Review list changes are displayed when you click the View List Changes button.
- Check the “Just display accounts with different balances” box at the bottom of the window, or use the Alt-N shortcut to see only the accounts with discrepancies.
- The Changed Transaction Report is accessed by clicking the View Changed Transactions button.
Inquire with your customer when the data input for the review period is finished.
- On the Transaction Change Report, Use one day After that Date as the Start Date.
- Today will Always be the Last Date.
Check the Balance
- The Difference Columns are computed Every Time you Return to this Feature During a Review.
- The Difference Column will be 0 when you Fix the Balances.
- The Presence of Zero Balances in the Difference Columns Confirms that the Review Period’s Opening Balances are Correct.
Correct the Balances
- The Difference Columns no longer Show a Balance for that Account if you’ve fixed any of the underlying Transactions and the Balances Agree. You can Construct an Adjustment Entry to Rectify any Leftover Balances in the Differences Columns.
- To see an Adjusting Entry with Line Items for Each Different Column Entry, Select the View Suggested Adjustment Button.
- If there are Balance Disparities in Both A/R and A/P, You must make Numerous Adjustment Entries.
- When you Create an Adjusting Entry that affects part of the Balances, the Differences Columns for the Accounts Affected by the Entry are Blank. For the Remaining Accounts, You can make Another Adjustment Entry.
Written off Invoices
To write off a batch of Bills, use the Write-off Invoices Tool. For each Invoice you Write off, QuickBooks Generates a Credit Memo. The Invoice and Credit Memo both are created by QuickBooks to get a Memo regarding the write-off.
Transactions are Entered in Batches
Use QuickBooks Desktop’s input batch transactions function to copy multiple transactions from one business file to another. This function can assist you in effectively saving and managing your time.
Batch transactions cannot be exported, but you may copy many transactions from one business file to another in a format that can be imported with the enter batch transactions function.
QuickBooks Desktop Accountant Edition Allows you to Remove or Invalidate Transactions in Bulk
QuickBooks also helps to swiftly remove or void several transactions at once, using the Batch Delete or Void Transactions program (BDT).
Delete or Invalidate Transactions Individually
- Payments of Sales Tax.
- Invoices that include Billable Time and Expenses.
- Any Transaction that Occurs within a Time that has Ended.
- Checks for Payroll Liability.
- Reimbursed Expenditures, Hours, Mileage, or Items on Invoices.
- Paying Bills Online.
Note: To remove them one by one, open the transaction and choose Edit, then Delete.
Specific Transactions can be Deleted or Voided
- Specific Transaction types can be Deleted or Invalid. Select a Transaction type from the Transaction Type Menu.
- You can Delete or Nullify these Items from the list.
- Bill Payment Checks, Bill Refunds, Bill Credits, Refund Checks, and Financing Charges are all included in the Bills option.
Reclassify the Transactions of Your Clients
Make it simple for your customer to prepare their books for tax purposes. Use the Reclassify Transactions tool to locate and rectify transactions in your client’s books that have been assigned to the incorrect accounts or classes. You can reclassify transactions individually or in bulk.
Follow these instructions to do so:
- Choose the Fiscal Year for Which you wish to look at the Data.
- Examine the Transactions.
- Transfer Transactions to a Different Category.
Changes to the List Should be Reviewed
The Review List Updates tool displays all changes to your lists, including the Chart of Accounts, Item List, Payroll Items, and Fixed Asset Items. You’ll be able to keep track of all the modifications you make to your lists this way. We’ll demonstrate how to use it and how to access it.
What all you have in Review List updates:
Change Other Name Types, Customers, and Vendors, and Review Item Setup
These drop-down menus open QuickBooks’ built-in functions. It allows you to review the things that need to be modified as well as those that have already been altered.
Items, Fixed Asset Items, and Payroll Items are all Part of the Chart of Accounts
You can examine and evaluate the modifications you’ve made to your products using these listings. When you open one of these, you’ll see the things that have been added, altered, removed, or merged.
Correct the Wrongly Recorded Sales Tax
When a customer pays sales tax with a standard check. You can convert all or a portion of your payments to sales tax checks at the same time. You can detect Sales Tax Payments that were not recorded using the pay sales tax feature and fix this with the help of this tool.
To cancel the check and create a sales tax check, choose the Void and Replace option after you select all the transactions.
After you choose the Void and Replace, the following can happen:
- The Normal Check’s Reconciliation Status, Check Number, Date, and Amount are all retained on the new Sales Tax Payable Check.
- Both Checks Contain a Memo.
- The Ordinary Check is Invalidated, and a Sales Tax Payable Check is substituted.
The Troubleshoot Inventory tool provides different perspectives on potential inventory issues. You can also select the best-presented items for your client’s firm by altering them and are in the inventory criteria. Once you check the inventory list, you may Quick Zoom to an inventory item to check up for any problems.
Configure the Display Dates
The review period is the default setting for the To and From dates. You are free to adjust the dates as needed and required. Once you change the date, use the tab key or click anywhere else on the screen to refresh it.
Modify the Displayed Objects
Inventory may be viewed in a variety of ways. After you’ve changed the view, click Refresh to see the inventory list with the modified criteria. To improve readability, the Type, Cost, Avg Cost, Sales Price, and percent Markup columns each have a separate backdrop color.
You must convert a QuickBooks Accountant’s Copy file before using it as a business file. It’s important to remember that the conversion procedure can only be completed using the versions of QuickBooks Desktop listed above. It is no longer possible to import an accountant’s modifications into a new .qbw file after an accountant’s copy has been converted to a .qbw file.
We hope now you have enough information about Convert QuickBooks Accountant Copy To Company File and hopefully the above-mentioned steps will help you to convert your QuickBooks Accountant Copy to Company file easily.
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Frequently Asked Questions (Faqs)
How do QuickBooks Help to Create a Write-off item?
To create a write-off, follow the steps mentioned below:
First, Select Add New from the Write Off Item Drop-down Arrow.
Then Leave Type to Other Charge in the New Item Window.
Now Enter a Name for the Item in the Item Name/Number Box, Such as “Bad Debt” or “Write off“.
Once Done Leave the Amount or Percentage Box Blank.
The Tax Code Field should be Set to Tax. If the Sale was Previously Nontaxable, Don’t Panic. Only Taxable Sales are Reversed by QuickBooks.
Select the Bad Debt Expenditure Account from the Account Drop-down arrow.
Finally, Choose OK.
How to Use the Invoices to Be Written off Tool?
Follow the steps mentioned below to write off the invoices to Convert QuickBooks Accountant Copy To Company File:
First of all Choose Accountant then go to Client Data Review.
Once Done click on Client Data Review to open the Write Off Invoices window from the Client Data Review.
Now make a list of the bills you wish to write off and set criteria for them. Filter the list of open invoices using the fields at the top of the window.
Then select the bills to be written off in the checkbox column.
At the bottom of the window, choose the write-off item.
Finally, Change the Write Off Date if necessary.
How to use the Review List Updates tool to Convert QuickBooks Accountant Copy To Company File?
To use the Review List Updates tool to Convert QuickBooks Accountant Copy To Company File, Follow these steps:
First select Client Data Review from the Accountant menu.
Then go to the options Client Data Review and choose this option.
Then select the list you need to evaluate in the Review List Changes section.
For your checklist, you may alter the state of each list.
Not yet begun.
Work in Progress.
This is not applicable.
Now examine the objects that have been added, altered, removed, or combined.
When you’ve finished reviewing all of the items, select Mark All as Reviewed.
Note: You won’t be able to modify the status of any goods after they’ve been marked as Reviewed.
How can you troubleshoot QuickBooks Inventories to Convert QuickBooks Accountant Copy To Company File?
To fix inventories to Convert QuickBooks Accountant Copy To Company File, follow these steps:
First, Choose the Adjust Inventory Quantity at the bottom of the window.
Now you may change the amounts for all shown inventory items.
Then enter a new amount or the quantity difference for any of the items in the new window.
After you enter any of the details the other is automatically updated.
Now you must pick the Adjustment Account.
Once you select the adjustment account at the top of the list, you may enter a reference number, job, and class information.
When finished, choose Save and Close to save your changes and close the window.
Now to dismiss the window without making any changes, click Cancel.
Then you may receive cautions regarding the age of transactions after saving.
Note: If you did not enter a required Adjustment Account, you will receive a warning message and the changes are not processed.