When managing your QuickBooks data, you might regularly send an Accountant’s Copy to your accountant as part of your standard workflow. This is crucial for keeping your records updated and precise, but it can become time-consuming and complex. QuickBooks Desktop offers an efficient solution: the ability to import an accountant’s adjustments directly into your company file. This feature simplifies the process, saving you time and reducing errors.
In this guide, we’ll cover everything you need to know to import your accountant’s changes into QuickBooks Desktop smoothly. You’ll learn what it means to import accountant changes, how it enhances your workflow, and the specific steps involved in using both web-based and file-based import options. Let’s dive into the details.
Understanding Accountant’s Changes in QuickBooks Desktop
When you share an Accountant’s Copy, you’re giving your accountant access to essential financial data that allows them to make adjustments directly. Once they make these adjustments, QuickBooks Desktop enables you to import these changes with just a few steps. This feature minimizes the manual work of inputting adjustments, ensuring accuracy and maintaining compliance with accounting standards.
Through this import feature, the financial data in your QuickBooks company file will reflect the changes made by your accountant without requiring extensive manual updates.
How to Import Accountant Changes in QuickBooks?
Importing your accountant’s changes involves two main options:
- Using a File (.qby):- Your accountant sends a file with a .qby extension that you save to your hard drive.
- Using the Accountant’s Copy File Transfer (ACFT) Service:- Your accountant submits the changes online, allowing you to import them directly through QuickBooks.
Here’s a breakdown of the steps for each method:
Importing Accountant Changes via the Web
- Open QuickBooks: Navigate to the File menu, select Open or Restore Company, choose Open a company file, and then locate and open the desired file.
- Log in: Enter your login credentials for your company file.
- Import Changes: Go to the File menu, select Accountant’s Copy, then Import Accountant Changes from Web. In the Premier Accountant edition or Enterprise solutions, select Client Activities followed by Import Accountant Changes from Web.
- Download the Copy: QuickBooks will prompt you to download and incorporate the accountant’s adjustments into your company file.
Importing Accountant Changes via the File (.qby)
- Open QuickBooks and Access File Options: From the File menu, select Open or Restore Company and locate your company file.
- Enter Credentials: Log into the file with your credentials.
- Select Import Options: Go to the File menu, select Accountant’s Copy, and choose Import Accountant Changes from File. In the Enterprise edition, go to Client Activities and select Import Accountant Changes from File.
- Find and Open the .qby File: Navigate to where the .qby file is saved, select it, and open the file. QuickBooks will prompt you to incorporate the accountant’s adjustments.
- Review and Apply Changes: For each change, you can click the “+” symbol to see specific recommendations and notes.
- Finalize Changes: Click Incorporate Accountant Changes to apply these adjustments to your company file. QuickBooks will save a backup for safekeeping.
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?
Once the changes are imported, you might want to review them. Here’s how:
- View a Summary PDF: The folder containing your company file will now also contain a PDF summary of the imported changes, which you can review anytime.
- Open the Accountant’s Copy: When ready, select Incorporate Accountant Changes. If you don’t wish to import the adjustments, simply close the dialog.
- Confirm Changes: Click OK to confirm, closing any other open windows.
- Automatic Backup: QuickBooks creates a backup of your company file as a safeguard.
Important Considerations When Importing Accountant’s Changes
You may have to consider some issues and prepare for them ahead of time. This ensures that the changes made by the accountant are merged properly with the rest of the company file.
If you’re using QuickBooks Desktop Enterprise, turn off Advanced Inventory features before starting the import. After the import process is complete, you can re-enable these features. Keep in mind that your accountant will not have access to Advanced Inventory details such as serial numbers, lot numbers, or inventory locations while making adjustments to the Accountant’s Copy.
Removing Accountant’s Copy Restrictions
Sometimes, you might need to remove restrictions associated with the Accountant’s Copy. Here’s how:
- File Menu Navigation: Go to File, select Accountant’s Copy, and choose Remove Restrictions.
- Confirm Action: Tick the checkbox and click OK.
Restrictions and Limitations with an Accountant’s Copy
While an Accountant’s Copy exists, there are some restrictions:
- Creating Subaccounts: You can add new accounts, but creating a subaccount under an existing account is not allowed.
- Account Modifications: Existing accounts cannot be merged, edited, or deactivated.
- New Accounts: If you create new accounts, they can be merged, edited, or deactivated once the Accountant’s Copy is with your accountant.
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FAQs: Importing Accountant’s Changes in QuickBooks Desktop
What is the purpose of an Accountant’s Copy in QuickBooks Desktop?
An Accountant’s Copy is a version of your company file that you share with your accountant to allow them to make financial adjustments without disrupting your ongoing work. This copy gives your accountant access to most financial data, enabling them to perform tasks such as reconciliations, adjustments, and tax-related entries. Importing these adjustments later helps keep your records precise and aligned with your accountant’s expertise, enhancing accuracy and compliance.
What’s the difference between using the Accountant’s Copy File Transfer (ACFT) service and manually importing a .qby file?
The ACFT service allows your accountant to send changes directly over the internet, making the process quicker and reducing the need for manual file handling. With the ACFT service, you receive a notification within QuickBooks to download and apply the changes online. In contrast, the .qby file method requires your accountant to send you the file directly (e.g., via email), which you then save and manually import into QuickBooks. While both methods achieve the same result, the ACFT service is generally more convenient and secure.
What should I do Before Starting the Import Process?
Before importing, always make a complete backup of your company file. This backup will be your safeguard against data loss if anything goes wrong during the import process. Additionally:
- Close all other QuickBooks Windows: Importing changes is a significant process, and having other windows open may interfere.
- Check for QuickBooks Updates: Running the latest version minimizes potential compatibility issues.
- Disable Advanced Inventory (Enterprise only): If you use Advanced Inventory, disable this feature before importing.
What if the Import Process Fails or Freezes?
If the import process freezes or fails to complete, consider these troubleshooting steps:
- Restart QuickBooks: Sometimes, simply closing and reopening the software resolves minor glitches.
- Check Your Internet Connection (for ACFT Service): A stable connection is necessary to download changes online.
- Confirm You have the Correct .qby File: If using a file, make sure it’s the correct one. Attempting to import an outdated or incorrect file may cause errors.
- Consult QuickBooks Support: If issues persist, QuickBooks Support can provide assistance to resolve technical errors.
Can I Review the Accountant’s Changes before Importing them?
Yes, QuickBooks allows you to review the accountant’s adjustments before finalizing the import. During the import process, you can view each individual change by expanding the adjustments in the import window. This gives you the opportunity to verify that each change aligns with your financial records and needs. If you’re uncertain about any adjustments, consult your accountant for clarification before proceeding.
Will Importing the Accountant’s Changes Impact my Existing Company File?
Yes, importing accountant changes will modify your company file to reflect the adjustments made by your accountant. QuickBooks will, however, create a backup before making changes, allowing you to restore the file to its original state if necessary. This backup feature ensures you can revert to a previous version if any adjustments do not align with your needs.
What Types of Changes can the Accountant make in the Accountant’s Copy?
Accountants can make a range of adjustments in the Accountant’s Copy, including:
- Journal Entries
- Account Reconciliations
- Modifications to Transactions
- Adjustments for Tax Preparation
Corrections to account balances However, certain actions are restricted in an Accountant’s Copy, such as adding inventory parts, deleting list items, or editing advanced inventory details.
What Limitations Apply When an Accountant’s Copy Exists?
When an Accountant’s Copy exists, certain features and actions in your company file are restricted:
- Adding Subaccounts: While you can create new accounts, you cannot add subaccounts to existing ones.
- Editing or Merging Existing Accounts: Any account that existed before creating the Accountant’s Copy cannot be edited, merged, or made inactive.
- Advanced Inventory (Enterprise): Advanced Inventory details (serial numbers, lot numbers) are unavailable to your accountant in their copy. These restrictions prevent potential conflicts between the accountant’s adjustments and the work being done on the main company file.
How do I Remove Restrictions after the Accountant has Returned the Accountant’s Copy?
Once your accountant has finished their adjustments and you’ve incorporated them into your company file, you can remove the Accountant’s Copy restrictions:
- Go to File > Accountant’s Copy > Remove Restrictions.
- Follow the prompts to complete the process. Removing restrictions restores full functionality, allowing you to make all necessary changes to accounts and lists.
Why does QuickBooks ask for an update after Incorporating Accountant Changes?
QuickBooks may prompt you to update the closing date or password after you incorporate accountant changes. The closing date is an essential part of financial record-keeping, preventing unintentional edits to closed accounting periods. It’s advisable to review these settings with your accountant to maintain data integrity in finalized periods.
Is it Possible to Decline the Accountant’s Changes if I find Discrepancies?
Yes, if the adjustments do not align with your records or if there’s a need for further discussion, you can choose not to incorporate the changes. Simply click Close instead of Incorporate Accountant Changes. It’s wise to consult your accountant about any discrepancies to ensure mutual agreement on the changes before finalizing.
Can I make Changes to my file while my accountant has the Accountant’s Copy?
Yes, you can continue working on your file with certain limitations. You can enter transactions, edit lists, and perform basic tasks, but some functions-like modifying account names or Advanced Inventory features (if applicable)-are restricted. These limitations are in place to prevent conflicts with the accountant’s adjustments.
How do I find and save a .qby file sent by my accountant?
When your accountant sends you a .qby file, save it to a secure and easily accessible location on your computer. After saving the file:
Open QuickBooks and go to File > Accountant’s Copy > Import Accountant’s Changes from File. Navigate to the saved location, select the .qby file, and click Open to begin the import process.
How do I find and save a .qby file sent by my accountant?
When your accountant sends you a .qby file, save it to a secure and easily accessible location on your computer. After saving the file:
Open QuickBooks and go to File > Accountant’s Copy > Import Accountant’s Changes from File. Navigate to the saved location, select the .qby file, and click Open to begin the import process.
Can I import the Accountant’s Changes into Multiple Company Files?
No, each .qby file is specific to a particular company file. Attempting to import a .qby file into a different company file may result in errors or data inconsistencies. Always ensure that the .qby file matches the corresponding company file to avoid conflicts.
Are there any additional fees for using the Accountant’s Copy File Transfer (ACFT) service?
QuickBooks offers the ACFT service as part of its subscription for QuickBooks Desktop Accountant and Enterprise users, so no additional fee is required. However, it’s a good idea to verify this with QuickBooks as subscription plans and services may vary based on location and version.
How do I check if my imported Changes were Applied Successfully?
After importing, QuickBooks creates a backup and provides a summary of the applied changes. You can review the adjustments directly in your company file, and QuickBooks also generates a PDF listing each adjustment in detail. Access this PDF in the same folder as your company file for an easy-to-reference log of the imported changes.
Can I Import Accountant Changes for Multiple Years of Data?
Yes, you can import accountant changes covering multiple fiscal years as long as the changes are within the same company file. QuickBooks will apply these adjustments seamlessly, provided that they were made by your accountant within the constraints of the Accountant’s Copy.
What should I do if I Accidentally Delete the .qby file before importing?
If you accidentally delete the .qby file, contact your accountant and request a resend of the file. Your accountant can generate a new .qby file without affecting the adjustments made, allowing you to reattempt the import.
Are there any Security considerations for sharing and importing accountant changes?
Yes, data security is paramount when sharing sensitive financial data. If you’re using the ACFT service, the transfer occurs over QuickBooks’ secure servers. For .qby files, use a secure, encrypted transfer method such as a secure email link or a password-protected cloud storage service. Always follow best practices for securing sensitive financial files.
What should I do if my accountant needs more information while working on the Accountant’s Copy?
If your accountant requires further information, maintain open communication. Provide them with necessary reports or data exports while avoiding any changes that might conflict with their work in the Accountant’s Copy. Collaborating in real time ensures they can complete adjustments efficiently and with all the needed information.
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