Many times, those who use QuickBooks need to merge QuickBooks Company File from time to time. Why? Usually, there are lots of duplicate accounts, customers, and vendors in the same application. By merging, your lists remain clean and your bookkeeping becomes faster and makes bookkeeping easier. Please read the entire article to understand the topic.
Preface to QuickBooks
QuickBooks is a popular accounting application among users in the USA and Canada and it is justifiably so. As it brings bookkeeping, taxation, payroll, and bank reconciliation may such business activities in one place. QuickBooks’ various additional facilities include even to merge QuickBooks company files. A beautiful option to lessen the unnecessary baggage, isn’t it? Read further.
Merge QuickBooks data
Users can merge some other types of data and bank accounts connected to the software. Users can combine data, transfer transactions to one another, and consolidate multiple companies. The merging process will differ for every version such as QuickBooks Desktop to QuickBooks Online to QuickBooks Desktop Enterprise. In this article, we will take into account only QuickBooks Desktop and QuickBooks Online. It is to be noted that some data cannot be merged and for bank accounts, the merging process is irreversible.
Can you merge two QuickBooks company files?
Of course, the answer is affirmative. There is a provision to merge two QuickBooks company files. On a condition that, sometimes, you’ll need to enter the data manually. There is no inbuilt option for merging in most of the QuickBooks versions.
Is there a way to combine two company QuickBooks files?
Yes, you can. There is no option for merging QuickBooks files in the application. Users will have to buy third-party merging services like BRC Transaction Copier. With any of these third-party services, they will ensure that all the files have been merged correctly.
The prerequisite for merging
Both accounts cannot be merged with the same names. For instance, if one company file has an account with the name “Accounts Receive”, then the second company cannot have an account with the name “AccountReceivable” of another kind. To resolve this issue, rename one of the accounts to “Account Recievable1”. Those accounts that will be added secondarily will have to be renamed. Still, as per our above discussion, some data cannot be merged by combining two company files.
How do I merge QuickBooks data files?
Here’s how to merge QuickBooks files:
- Log in to the Company file as an admin.
- Out of the File menu, select the option Utilities.
- Click on Import and select the option Import IIF
- Select the IIF option you want to import and open it
- Click OK
You can try using a QuickBooks File Merge Service. Using a file merger service has many advantages i.e., creating more than one QuickBooks data file, creating a local data file, combining various company files together, etc.
How do I merge two companies in QuickBooks Online?
There’s no direct way of merging companies in QuickBooks Online. If users want to merge two companies in QuickBooks Online, then first both QBO dataset needs to be converted to a QB Desktop version. Post-merging, it needs a new QBO company file for uploading.
Users can also upload the merged company file back to the QBO account; for this, the account needs to be under 60 days old, or otherwise, users will need the permission of Intuit so they can upload the merged file. If users are unable to do so, they will have to create a new QuickBooks Online account.
How do I transfer data from one company to another in QuickBooks?
In QuickBooks, if you want to perform data transfer from one company to another, then there’s no direct way. Either the option is to copy and paste or put data manually. The last option is to use third-party software to export data. A detailed method is below:
- First, you need to create a fresh company backup file.
- Head to File and click on Utility.
- The next step is to Verify Data and Rebuild Data.
- Use Transaction Pro Exporter
- Now you can export from one company to another.
Users can ‘two-fold’ the file if it’s size-wise too large.
Can I transfer transactions from one QuickBooks file to another?
It is to be noted that QuickBooks doesn’t provide a file merging option. Thus, the option is to copy the transaction (checks, deposits, credit card charges, and credits, bill and bill credits, invoice and credit memos, etc.) file from one company file to another. Make a copy of transactions and then import/export it into another QuickBooks file.
Can QuickBooks Online consolidate multiple companies?
Yes, it can. It’s demanding that you use a secondary software, JustConsolidate connected with QuickBooks.If the user needs to consolidate or combine multiple companies, in QuickBooks Online, then follow as it is:
- Out of the QuickBooks Reports menu, select Combine Reports from Multiple Companies
- Select Add Files, locate the other company file, then choose Open
- Under Select Reports for Combining, select the reports you want to combine
- Select the report’s from and to date range, then select a reported basis
- Click Combine Reports
Can I merge two bank accounts in QuickBooks?
Of course, you can. You would be able to merge two bank accounts. You need to deactivate the online services for both bank accounts beforehand, in order to merge. In the Edit Account option appears a prompt, you can create a new account. The instructions are here:
- First head to the Lists menu, now click on the Chart of Accountants option
- To match the account level, check out the Diamond symbol.
- Now click on the accounts you want to merge. After that click on Account.
- Then click on the Edit Account option.
- Now you can change the account type. If the accounts do not match, then it won’t be possible to merge bank accounts.
- You can now set an account name for the account where you want to merge.
- Lastly, click on the Save and Close buttons. Now, hit Yes to apply.
Things to remember
Cases, when data merging won’t be possible are:
Summary:
This article explains how to merge company files and what measurements need to be taken in some possible situations.
- Payroll checks
- Memorized transactions
- Bank reconciliations
- Customer fields
- Budgets and forecast
- Customer to-do list
End Note!
In the final analysis, this function to merge QuickBooks company files is a time-consuming process. Also, this process is different for various QB versions. It will involve third-party software or the user has to copy data from one company to another. Bank accounts can be merged, but unmerged is not possible.
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