You must have been sending an Accountant’s Copy to your account as a ritual of your maintenance of the accounting data. But there must have been a time where all of this process had become way more difficult for you!
To help you have a streamlined process with clinical precision, QuickBooks accommodates the feature of being able to import an accountant’s copy and act on the changes automatically on your company file.
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This article will help you to guide on how to import your accountant’s changes into your company file in QuickBooks Desktop.
What is Importing accountant’s changes in the Company file on QuickBooks Desktop?
When you send an accountant’s copy that includes all critical accounting data, quite naturally, you would be getting back certain changes.
Having the changes done every time is a time taking and cumbersome process. On QuickBooks Desktop, you can now easily import all the changes directly on the company file.
To do this, you would be having two specific options.
The first one of these two specific options is that the accountant can directly send you the file containing Accounting Changes that you can save to your respective hard drive.
The second choice would let you send the changes via the internet using the feature of Accountant’s Copy File Transfer service.
Learn how to execute the above-stated options to import your accountant’s changes into your company file in QuickBooks Desktop.
Import your Accountant’s Changes into your Company File in QuickBooks Desktop
Before starting with the importing your accountant’s changes process, make sure that you have taken the backup of the company file so that even if anything goes wrong there’s absolutely no need to panic about data loss.
In case, you are using QuickBooks Desktop Enterprise, you must put off any Advanced Inventory features which are currently in use. Once you have done the import changes, you can again turn them back on.
Here are the steps below to start with importing your accountant’s changes:
Step 1: Visit File Menu and choose Send Company File.
Step 2: Click on Accountant’s Copy.
Step 3: Click Client Activities.
Step 4: Choose Import Accountant Changes from File if you have received your accountant’s changes in an Accountant’s Changes file.
To do this, you need to locate the file with a .qby extension which can be found at the end of the name of the file.
Step 5: If the accountant has sent you via Accountant’s Copy File Transfer Service, then you need to be importing Accountant’s Changes from Web.
The above-mentioned steps would thus help you to import the changes sent by your accountant on the company file.
Now, if you need to review the changes sent by your accountant, you need to look into next following section.
How to Review your Accountant’s Changes on QuickBooks Desktop?
On QuickBooks, the changes by your accountant are added to an automated process. This becomes crucial since you need to verify the changes that have been done so that you can peacefully avoid re-works.
Advisably you need to check with your accountant before proceeding ahead.
Now, if you want to review the changes sent by your account, you need to follow the steps given below:
Step 1: Once you are prepared to import their changes, choose Incorporate Accountant’s Changes. In case, you wish to not import the respective changes, hit the Close tab.
Step 2: Choose OK for confirming the changes and simultaneously shut down any other windows that might be opened right now.
Step 3: Again, select OK and hit Close. This will make QuickBooks automatically create a separate backup of the company file.
You may wish to update the closure date or the password with respect to your accountant.
For reviewing the remaining changes on a later course, open the folder which contains the company file. A PDF listing all the imports updated shall be there.
Now you can have a better system in place to successfully import your accountant’s changes into your company file on QuickBooks Desktop.
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Will my accountant have Advanced Inventory details while adding inventory transactions to the Accountant’s copy?
No. Data like serial numbers, lot numbers, inventory sites are inclusions of your inventory transactions, and while adding to the Accountant’s copy, your accountant will not have the Advanced Inventory details. If you wish to, you can later add these details manually.
How to remove the Accountant’s Copy restrictions?
Before getting started with removing Accountant Copy’s restrictions, make sure you have done a prior consultation with your respective account.
To proceed with the Accountant’s Copy restrictions, follow the steps below:
Choose Accountant’s Copy.
Select Remove Restrictions.
Tick the checkbox and choose OK.
Are there any limitations related to accounts when you find an accountant copy to be existing?
There are few limitations related to accounts when you find an accountant copy to be existing and are mentioned below:
You shall be able to add a new account but would be unable to add a fresh subaccount to the already existing account.
You would not be able to either merge, edit or make inactive to the already existing accounts.
For new accounts which you have created, you would be able to either merge, edit or make inactive while the Accountant’s copy retains with your accountant.