Did you know that you can easily transfer your QuickBooks company financial data in secure XML format into QuickBooks Desktop? Well, yes you definitely can with the help of the QBXML file feature.
QBXML files comprise of financial data of the company, which is created by the QuickBooks Online version. QBXML files help in exporting the backup of the financial data in XML format and then it can be easily imported to QuickBooks Desktop.
If we talk about the advantages of QBXML format files, then you should know that this format or framework is:
- Standard in terms of technologies like XML and HTTP,
- Extensible as it can be extended to newer technologies in the future,
- Secure in terms of business transactions,
- Designed to support Web-based and remote data integration.
Now when you are aware of the features of the QBXML file, let us move on to the next section where we will discuss the step-wise step process to import the QBXML file into QuickBooks Desktop.
Importing the QBXML file into QuickBooks Desktop
Before we move on any further, I want to let you know about few things that you should keep in mind while importing the QBXML file into QuickBooks Desktop:
- You should know that you can only use the export feature to transfer the data from one QuickBooks Online account to another.
- When you finally complete the import process, it will overwrite the data which already exists in the company file.
- It is always better to create the backup file before starting the import process.
Exporting the QuickBooks Online Data
Firstly, you will have to export the data from QuickBooks Online version, for this, you can follow the below steps:
Step 1. At first, you need to download the financial data of your company file in QBXML format from QuickBooks Online.
Step 2. For this, you need to click open the QuickBooks and Log in, then go to the settings, and after that click on export data.
Step 3. Once the export data wizard is opened, you need to select the range of the data to be exported, and then click on the request your data.
Step 4. In this step, once all the data is ready to be download, click on Continue, it will create a QuickBooks for Windows company file and you can download it.
Importing the Data into QuickBooks Desktop
After you have exported the QBXML file data from the QB Online version, you can take the below steps to import the data into QuickBooks Desktop:
Step 1. You can import the QBXML data into QuickBooks Desktop by installing CData Cmdlets for QuickBooks on the computer where you have saved your QBXML file.
Step 2. You need to also install the remote connector on the computer machine that is hosting the QuickBooks Desktop. The remote connector is included in the installer for Cmdlets.
Step 3. Once you are done with the installation part, you can import the QBXML file to QuickBooks desktop following the Online instructions.
But you should be aware, that this is one of the processes where you would need expertise, so if you are stuck or unable to do it yourself, call for expert help.
Let us now move towards the frequently asked Questions, wherein you will be able to see small queries asked by the users and answered by experts. You can refer to these questions as a cheat sheet when you are performing the process, or need to know additional things.
Can you let me Know the Process of Converting QBX file to QBW and open it?
First of all, you need to open the QBX file on your system, go to the File menu > click on Send company file and then click on Accountant’s copy. Now you need to convert the accountant’s copy to a company file with an extension (QBW). After this save the QBW file on the desired location and click on the save and then OK.
At what Location does QuickBooks save XML files?
Whenever QuickBooks generates an XML file i.e., QBXML file, it will inform you that it is sending you the CRA website. Now you should very carefully note the location of the XML file in the message. You will have to attach using the location on the CRA website. Generally, the file is saved in the ‘document’ folder of the computer.
Can you let me know the Steps to make an Accountant’s copy on QuickBooks Desktop?
You need to start the process by first opening the QuickBooks and going to the File menu. After that, you need click on ‘Send company file’ option. Now click on The Accountant’s copy and then Client activities. Once you are done, click on save file and then click on Next. After that, choose Accountant’s copy and click on Next again. Lastly, enter the QuickBooks Accountant copy dividing date and click on Next once again.
Can you guide me on how can I Export T4 Slips as an XML file and then Submit them Online to CRA?
You need to click open QuickBooks first, and then click on Taxes > and then Payroll tax. Once you have done this, go to the forms section and choose Annual forms. After that, select T4 slips (employer). Now choose the period and select view, this will open the T4 slip in the new tab. You should save or print the slip for record. Now, you need to go back to previous QuickBooks Online tab and click on submit. Once you click on submit, your T4 slip will be exported as an XML file and will also archive a copy of the same for your record in QuickBooks Online.