Steps to Import Chart of Accounts into QuickBooks & its Importance

import chart of accounts into QuickBooks

Do you wonder how you can import chart of accounts into QuickBooks? There might a problem you face regarding it. But we assure you have come to the right place. We will guide you in QuickBooks Import Chart of accounts.

How to Import Chart of Accounts into QuickBooks safely?

  • Following the export and import procedure of transferring information between QuickBooks files carefully is absolutely necessary. This will save time and efforts by eradicating any chances of being stuck during the procedure.
  • Creating a backup of the export file is absolutely necessary as this backup data will come handy in case anything gets lost during the transfer process of the data.
  • Logging in as QuickBooks Administrator is mandatory to undertake the import and export of IIF QuickBooks files. It should not be in multi-user mode to prevent other users from accessing data during the transfer procedure.

Steps to Import Chart of Accounts into QuickBooks software.

Step 1- Creating a backup:

Do not forget to create a backup copy of the company’s QuickBooks file before undertaking the import operation. This backup data may prove to be useful in case you lose any data during the transfer process.

Step 2- Exporting the data:

The easiest method of importing the data is by using data transfer utility QuickBooks. Prior to import chart of accounts into QuickBooks into the new file, you will need to export it from the old one. File > Utilities > Export. Now click on ‘Lists’ and choose IIF files from the list.

Once a window appears on the screen choose the lists that are to be imported and included in the export file of QuickBooks.

 For example, if a customer file needs to be imported, select ‘Customer List’ in the dialogue box and then click on ‘Ok’. Enter an appropriate ‘File Name’ and ‘Save’ the export file.

Note: IIF files are actually Intuit Interchange Format files, text files which are used by QuickBooks during the import or export of data. It is easier to export and import data to and from QuickBooks using IIF files than to carry out the job with tab, CSV and Excel delimited files. The IIF files, being in formatted form makes the entire transfer process easier and faster.

Step 3- Importing the IIF file:

Open QuickBooks Company where the list information is to be exported. Then click on File > Import > IIF files. A dialogue box will pop up, after which choose the newly created export file and then click on the ‘Open button’. This way QuickBooks will automatically add the information list to the current company file from the export file.

For example, if a Customer list has Accountant XYZ in the export file. The new company file’s customer list will also feature Accountant XYZ, as added by QuickBooks. If the Accountant XYZ file already features in the new Company file before the importing process takes place, QuickBooks automatically updates the data into the company file as and when required.

 Step 4- Modifying the Chart of Accounts according to the requirement:

Making sure to create a prototype of the import chart of accounts into QuickBooks is necessary for creating an error-less company file. Often, modifications are necessary to create an appropriate and seamless company file even if proper Chart of Accounts is available.

Import chart of accounts into QuickBooks | Conclusion

To sum up, this blog, if you get any error regarding import chart of accounts into QuickBooks, then you can make a call to our QuickBooks import chart of accounts team experts. We will give you assured answers and solve your queries. You may have a problem regarding data transfer utility QuickBooks, which can be tackled by getting in call with our QuickBooks Support Team at 1-805-257-5030.

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