Do you want to make a review of your books through your accountant? Thankfully, QuickBooks gives you the facility to cross-check your all finance records through the QuickBooks Accountant’s copy. You just need to create and send the copy to your account to make changes. Read the complete article to know the Accountant’s copy and its uses.
A QuickBooks Accountant’s copy is a special company file version that is used to prepare and change your data when you proceed to function. It freezes the books for a certain period of time. And allows the client to share their file with their accountant while continuing to work on their own copy of the file.
After the accountant did their work, the changes they made will need to be imported back into the company file by the client. It may require some additional training from the accountant. So here in this article, we will know the complete detail of the QuickBooks Accountants copy like the creation, and use of the copy.
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After saving the QB Accountant’s copy, QB shows “Accountant’s Changes Pending” in the top & will remain there until you encompass the changes back from the Accountant or you remove the restrictions.
Be aware of the fact that in case you remove the restrictions before the accountant sends back the changes, you’ll not be able to include any changes made by the accountant automatically into your QuickBooks.
To Create an Accountant’s Copy of QuickBooks Company File
A QuickBooks Accountant’s copy can be created in just three steps. Here is the procedure to create, and send the file;
Step 1: Set Up the QuickBooks
In the first step, set up your QuickBooks perfectly, so that, you will never face any problem while using the accountant’s copy.
- If you are using the QuickBooks Desktop Enterprise and turned on any advanced inventory feature in it. Then turn off its advance, QuickBooks will ask you to turn off it, while sending the accountant’s copy.
- And if you are a QuickBooks Desktop Pro or Premier user, then don’t need to follow the this step.
Step 2: Create Accountant’s Copy
Now, in the 2nd step, you need to create an accountant’s copy. There are 2 methods to get an Accountant’s copy to your accountant. Here are the methods;
Create a Physical File Ready to Transfer
If you want to create the copy to put on a USB or online hosting service then follow the below-given procedure;
- Navigate to the ‘File’ menu.
- Take your mouse cursor and hover over the ‘Send Company File’.
- Then hover over the ‘Accountant’s Copy’ and then over the Client Activities.
- After that select ‘Save File’ and then click on ‘Next’.
- Now Select the ‘Accountant’s Copy’ and then ‘Next’.
- Enter the QuickBooks Accountant Copy dividing date. Then select the ‘Next’ option.
After that, name the file with the .qbx extension, and put the file on a USB. Now you can give this file to your account, and can share it through a cloud service like Box.
Send File Through the Accountant’s Copy File Service
If you want to create the file by the transfer service to send the file through the web. Then follow the below-given procedure;
- Navigate to the ‘File’ menu.
- Take your mouse cursor to ‘Send Company File’ and hover on it.
- Then hover on ‘Accountant’s Copy’ and after that on ‘Client Activities’.
- Now select the ‘Send to Accountant’ and click on ‘Next’.
- Select the ‘Accountant’s Copy’ and click on ‘Next’.
- After that enter the QuickBooks Accountant Copy dividing date. And then select ‘Next’.
- Enter the email address of yours and your accountant.
- Create a password for the Copy file.
- Click on the ‘Send’ option.
QuickBooks will close all of the open windows while sending the file. So, if you are running any important program in QuickBooks, first complete it, and then send the file to your accountant.
Steps for Accountant, After Getting the Copy
- The accountant will receive a file, with a download link to download the client company file.
- After clicking on the download link, the accountant will receive another link for the one-time password that you have provided during the upload of the file.
- By using the password the accountant can download the accountant’s copy and can open the file in QuickBooks to make changes (if required).
Step 3: Turn On Advanced Inventory Again
If you are a QuickBooks Desktop Enterprise user and tuned off the advanced inventory features in the 1st step, then you turn on it again, after sending the file you your accountant.
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To Use the Accountant’s Copy
Now it’s time to use the accountant copy in different ways. Here are some procedures that will help you to use the accountant copy in the right direction.
To Change the QuickBooks Accountant Edition
If you want to change the edition of the accountant’s copy then follow the below procedure;
- Navigate to the File menu and select “Toggle to another edition”.
- Premier (or Enterprise Solutions) Accountant Edition – Home should be greyed out. If not, select its radio button.
- After that select “Next”, then “Toggle”.(You can toggle back to your previous edition)
To Convert the Accountant’s Copy to a Working File
Follow the procedure to modify the accountant’s copy to a working file;
- Navigate to the File menu and select “Open and Restore Company”.
- Select “Convert an Accountant’s Copy Transfer File”.
- Click “Next”.
- Read the “Overview” and “Do’s and Don’ts” and click on “Next”.
- Search and open the Accountant’s Copy.
- Confirm that you want to convert the file.
- Rename it and select “Save”.
To Edit a Client’s Book
Make changes in the client’s book. Edit the book and correct it. You can perform certain tasks like :
- Correct opening balance.
- Write off a group of invoices.
- Enter multiple transactions at once.
- Correct inventory errors and many more.
To Send the File to the Client
After making changes to the file, now you can send the file to the client. For that first, you have to export it in the .qby format and then you send the file to the client.
You need to send the file carefully, because some wrong steps can create the QuickBooks Accountants copy failed issue, so be aware of that.
Remove the Accountant’s Copy Restriction
Removing the Accountant’s copy restriction on the QuickBooks Desktop means you are voiding the initial Accountant’s Copy that changed into made. This is normally done when your Accountant asks you to send another Accountant’s Copy or your company file requires it to be repaired due to information damage. Before transferring forward, make sure to create a backup of your Company file.
- Firstly go to the File menu, then select Send Company File.
- Choose the Accountant’s copy, then Client Activities.
- Click on the Remove Restrictions option.
- Choose Yes, I want to remove the QuickBooks Accountant’s copy restrictions, then OK.
Hopefully, you find the article informative, and now you have the idea that how to create and use the QuickBooks Accountant’s copy. You can take our Accountwizy support for any kind of problem regarding this topic through our certified QuickBooks ProAdvisor.