QuickBooks Online

Advanced Certification
Exam Prep Training
Module 10:
Complex Conversions

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Agenda

MODULE 1: Advanced Categorization

MODULE 2: Advanced Features
MODULE 3: Advanced Banking
MODULE 4: Advanced Reports
MODULE 5: Inventory Management
MODULE 6: Sales Tax
MODULE 7: Special Transactions
MODULE 8: Multicurrency
MODULE 9: End-of-period activities
MODULE 10: Complex Conversions

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Additional Resources

QuickBooks Accountant Training: Firm Of The Future Blog: Intuit Marketing Hub:
qbtrainingevents.com firmofthefuture.com http://intuit.me/hub

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CPE Process

In order to receive CPE credit in each training session, you must:

• Be present for a minimum of 50 minutes to earn 1 CPE credit.

• Respond to 75% of the checkpoints during each session
• Answer 1 polling question per hour during each session
• If all requirements are met, your CPE appears in your USER PROFILE in the virtual conference
within 24 hours. And, you will receive an email with your CPE attached from:
[email protected] (please add to your approved contacts)
• If you only meet the above requirements in part, your CPE will be processed manually. Your
certificate will be emailed to you within 2 weeks following the close of the event.
• Example, 2-hour training session, you only attend 1-hour and meet all other requirements
during that hour. You will receive partial credit.

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Exam Prerequisites

Member of QuickBooks ProAdvisor Program

QuickBooks Online Certified
Proficient with accounting principles
Have hands-on experience using QuickBooks Online Accountant and supporting
QuickBooks Online clients.
Have deep product knowledge and/or experience with client engagements using
QuickBooks Online

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Exam Candidate Expectations and Things to Know

Understand advanced topics

Comprehend training material
Ability to work through scenario-based questions
Draw on your expertise and trusted advisor role
No CPE for exam itself. However, live training is eligible for CPE.
Exam may be completed in any order
Multiple-choice questions may contain one or more correct answer(s)

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How to Access Training & Exam

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QuickBooks Online Advanced Certification

5 Sections
Multiple choice, submit each section, then submit
all sections for grading; 80% or better each section
to pass
Only need to re-take sections not passed
3 Attempts to pass; 60-day lockout after 3
successive not pass attempts

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Recertification and Leveling Up

Once certified, you can also continue your journey with a range of additional courses
that will add to your knowledge and impress clients.
– ProAdvisor additional courses: Visit www.qbtrainingevents.com
– ProAdvisor certification badges:

Recertify every year between April to June 30 on what’s new in QuickBooks Online to
maintain core and advanced certification status for another year.
Gain Advanced Certification between 11/1/20 to 10/31/21 – recertify by June 30, 2022

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QuickBooks Online
Advanced Certification
Exam Prep Training
MODULE 10: Complex Conversions

Intuit Confidential and Proprietary

Module 10: Complex Conversions

LEARNING OUTCOMES

In this module, you’ll learn how to:

Recognize considerations when using the

QuickBooks Data Conversion Tool
Identify pre- and post-conversion activities that
are key to a successful conversion
Identify options to import lists and data
Identify when to start a new QuickBooks
company by entering beginning balances
Identify sequence of steps to enter beginning
balances
Recognize when and how to purge data in
QuickBooks Online
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Module 10: Complex Conversions

Lesson 1: Convert QuickBooks Desktop to QuickBooks Online

Lesson 2: Import List Data
Lesson 3: Begin from Scratch and Opening Balances
Lesson 4: Purge Data

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QuickBooks Online
Advanced Certification
Exam Prep Training
MODULE 10:
Complex Conversions

LESSON 1:
Convert QuickBooks Desktop to
QuickBooks Online

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Considerations – Data Limits

• No database file size limit in QuickBooks Online

• Only limits are ones imposed by subscription level
• Review the supplemental guide for character limits
• QuickBooks Online uses pagination for reports, so only a certain number of
rows appear on each screen

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Pre-Conversion – Create Subscription
Create from QBOA

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Pre-Conversion – Open QB Desktop
Backup

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Pre-Conversion – Open QB Desktop

Press F2 to look at targets

Must be fewer than 350,000
Convert on a local drive

https://community.intuit.com/articles/1145321-condensing-your-quickbooks-desktop-file-for-import-to-quickbooks-online
https://community.intuit.com/articles/1502371-the-condense-data-utility

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Pre-Conversion – Open QB Desktop

Verify data
Possibly rebuild
Other best practices:
Re-sort lists
Create/restore portable
company file to reduce db file
fragments
Make sure you have the latest
maintenance release
Review and disable any
unnecessary preferences
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Conversion

Company > Export Company to QuickBooks Online

F2 to open Product information screen

Ctrl + b, then Ctrl + q
Click OK

File > Export > To QuickBooks Online

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Conversion

Log into Intuit account

Choose QBO subscription
Wait for email

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Conversion – Inventory On

Activates tracking quantity on hand

Records QBD weighted average inventory
valuation for each product as of start date
Reports won’t match
Notify of change in inventory method

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Conversion – Inventory Off

Inventory imported as non-inventory part

Sales transactions show cost of goods, but
does not print
Purchase transactions use accounts instead
of items

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What Converts
LISTS
What Converts – Lists

Inactive status
Entities
Accounts
Product / Service Items
Sales tax items
Other lists

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What Converts – Lists

Inactive list records are imported as

inactive

Exceptions:
Inactive record has a balance in QBDT
Inactive Employee paid in the current year
Inactive records can’t be deleted in QBO

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What Converts – Lists

Customer jobs in QBDT are converted to sub-customers in QBO

The following fields are NOT converted

Additional contacts Price level Job status End date

Rep Account number Start date Job description

Customer types if
there are ARE sub- Credit limit Projected end Job type
customer types

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What Converts – Lists
Other names in QBDT are converted to Vendors in QBO

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What Converts – Lists

Employees:
Most information is converted
QBOP will notify you if there is missing information and prompt you to enter it after
conversion

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What Converts – Lists (Chart of Accounts)

Name Non-posting accounts

Type Bank account number

(conversion tool assigns both Category type and Detail type)

Description Online banking connection

Number Notes

Account hierarchy

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What Converts – Lists

QB ONLINE ITEM TYPE QB ONLINE ITEM TYPE

QB DESKTOP ITEM TYPE
INVENTORY ON INVENTORY OFF

Inventory Assembly Inventory Non-inventory

Inventory Part Inventory Non-inventory
Non-inventory Part Non-inventory Non-inventory
Service Service Service
Other Charge Service Service
Discount Service Service
Payment Service Service
Group Bundle Bundle
Subtotal Not imported Not imported

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What Converts – Lists

*Sales tax items convert to sales tax rates in the Sales Tax Center – not to items!

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What Converts – Lists

Budgets – Profit & Loss only

Classes

Currencies

Memorized Transactions (QBO Essentials, Plus and Advanced only)

Payment methods

Terms

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What Doesn’t Convert – Lists

Ship Via
Audit Trail
(field is converted, drop-down list is not)

Vendor Type Shortcut list

Custom sales form styles To do list

Sales Rep Multiple Units of Measure
(field is converted, drop-down list is not)

Price Levels

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 What Converts
TRANSACTIONS
What Converts – Transactions

Bill and Bill Credit, Purchase Order

(link to Bill is not preserved)
Estimate, Invoice, Sales Receipt Checks

Statement Charge converts as Invoice Credit card charges and credits

Progress invoices convert but not linked to estimate Billable time and expenses

Journal entries (billable status on JE not converted) Reconciled status “R”

Discounts convert as Credit Memo or Vendor Paychecks convert as Checks, Liability

Credit payments convert as Journal entries

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What Doesn’t Convert – Transactions

Link between closed Purchase Orders and Bills

Link between Estimates and Progress Invoices

Reconciliations

Sales Orders (can import as Estimates using 3rd Party app)

Billable status on Journal Entries

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What Converts
SETTINGS
What Converts – Settings

Company Information

Closing Date

Multi-currency

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What Doesn’t Convert – Settings

Online banking connections

Audit Trail
(Bank Feeds)
Closing date password 3rd Party apps connections

Custom Forms Styles Memorized reports

Exceptions to Closing Date International versions

Reconciliation reports Users & permissions

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POST-CONVERSION
Post-Conversion

Verify reports
Configure settings
Connect bank and credit card
accounts
Initial reconciliation
Create & save custom reports
Setup users & permissions
Connect 3rd party apps

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Post-Conversion

Reconcile
Same ending date and
balance as last reconciliation
in Desktop
Don’t check off anything
Click Finish Now

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QuickBooks Online
Advanced Certification
Exam Prep Training
MODULE 10: Complex Conversions

LESSON 2: Import List Data

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Importing Lists

Customers, Vendors & Accounts

add new records to table
Products & Services list can be
updated if name matches
Account type and detail type
required
You can also import invoices (has to
be CSV format)

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Importing Lists
Download sample file

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Importing Lists – Customers / Vendors

Customer / Vendor address is

separate fields for street, city,
state, zip
Customer / Vendor opening
balance should be $0

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Importing Lists – Products and Services

Products & Services specified

as single / double sided via
“Sell” and “Buy” columns
If check “Track”, sets up
inventory item

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Importing Lists – Accounts

Type and detail type must match

QBO’s pre-defined options for
each field
Must have detail type
Maximum of 100 characters
Cannot import more than 250
accounts except in QBO
Advanced
Sub-accounts can be imported in
this format: parent:sub

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Importing Lists – Accounts

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QuickBooks Online
Advanced Certification
Exam Prep Training
MODULE 10:
Complex Conversions

LESSON 3:
Begin from Scratch and Opening Balances

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Gather Balances
Trial Balance
December 31, 20XX
Trial Balance
Account Debit Credit

Open transactions Cash $7,000

Accounts Receivable 3,000

Inventory detail Office Supplies 3,000

Office Equipment 5,000

Unbilled billable time and charges Bank Loan $5,000

Accounts Payable 1,000

Common Stock 10,000

Consulting Revenue 7,000

Rent Expense 600

Salaries Expense 2,500

Supplies Used 1,200

Utilities Expense 700

Total $23,000 $23,000

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Enter Balances

Record bank and credit card statement

balances
Post PY retained earnings to equity
Exclude the following accounts:
• A/R, A/P
• Inventory (if feature enabled)
• Sales tax liability
• Payroll tax liability
Use Opening Balance Equity (OBE) as
the offset account

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 Enter Balances – Journal entry

Start date

Offset to Opening Balance

Equity

56
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Enter Balances – Outstanding Transactions

Outstanding/Uncleared:
Checks
Deposits
Credit card transactions

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Enter Balances – Open A/R

Invoices
Credit Memos

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Enter Balances – Open A/P

Bills
Vendor Credits

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Enter Balances – Open Non-posting Activity

Estimates
Purchase Orders

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Enter Balances – Open Non-posting Activity

Single Time Activity

Weekly Timesheet

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Enter Balances – Open Non-posting Activity

Delayed Charges
Delayed Credits

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Enter Balances – Mid-Year Income and Expenses (if applicable)

Use Journal Entry

Offset against Retained
Earnings

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Enter Balances – Sales and Payroll Taxes Payable

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Enter Balances – Inventory

Setup products and

services
Can be imported using the
Import Data tool

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Enter Balances – Final Check – Opening Balance Equity = $0

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QuickBooks Online
Advanced Certification
Exam Prep Training
MODULE 10: Complex Conversions

LESSON 4: Purge Data

Intuit Confidential and Proprietary

Purge Data

https://qbo.intuit.com/app/purgecompany

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Next Steps

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How to Access Training & Exam

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QuickBooks Online Advanced Certification

5 Sections
Multiple choice, submit each section, then submit
all sections for grading; 80% or better each section
to pass
Only need to re-take sections not passed
3 Attempts to pass; 60-day lockout after 3
successive not pass attempts

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