In business, chart of accounts is very helpful for the accountants, since it helps in proper bookkeeping and efficient business functioning.
Setting up a chart of accounts in QuickBooks is very crucial since it stands as the pillar of the accounting system that impacts how a report data is grouped or showcased.
What is Exporting of Chart Accounts from your QuickBooks Online?
Chart of accounts in QuickBooks typically helps to save your time and effort in business. With this, you can keep a track of the expense accounts, customers, items, vendors, etc. of your business.
The good thing is by maintaining a chart of accounts, you will be able to save all your data in one place and can put it to use as and when required.
Why do you need to Export a Chart of Accounts from your QuickBooks Online?
Creating the best business organization is a task that asks for complete dedication, time, and effort, and maintaining a chart of accounts is the best route available.
There are numerous inbuilt reports along with templates available to help you in a task, however, with exporting a chart of accounts in QuickBooks you can simplify your task ten times. This is why a chart of accounts in QuickBooks is imperative for business.
How to Export Chart of Accounts from your QuickBooks Online?
Before you initiate the export operation, ensure that you have created a copy of the QuickBooks file for the particular organization. The backup copy will prove to be a boon for you in case you misplace any financial detail about the organization during the transfer procedure.
Exporting a chart of accounts along with lists of employees, vendors, and customers is an easy and swift process. All you need to do is follow the procedures mentioned below:
Step 1: Open the particular QuickBooks company file
Step 2: Search for the chart of accounts you wish to export
Step 3: Select File from the specific taskbar
Step 4: Click the Utilities section and select Export
Step 5: Then choose Lists of IIF files
Step 6: A list will be displayed on the window
Step 7: Select the Chart of Accounts option
Step 8: The Save As dialog box will display
Step 9: Save the file by choosing the location from the particular drop-down list.
Why do You Need to Create a Backup of the Export File?
It is important because it will help in any kind of problems that might arise during the transfer process.
Do you need to Log in as the Administrator Before you Export the Chart of Accounts from QuickBooks Online?
Yes. It is Necessary.