Kington, UK -- (SBWIRE) -- 01/14/2021 -- Setting up a QuickBooks file incorrectly or just wanting to start on a clean slate?
Experts find that rather than going back and manually reversing every transaction, it may be easier to just purge, or erase everything and start over.
QuickBooks Online allows to reset, or purge, your company only if it has been active fewer than 90 days. If the QuickBooks Company has been active more than 90 days, the subscription for the company would have to be cancelled and a new one created.
If the company is fewer than 60 days old, a reset can be done by logging into the company on QuickBooks.The type of business selected would then determine which accounts QuickBooks Online will create.
To cancel the QuickBooks account, sign in to the company account by going into https://qbo.intuit.com and clicking on the cancel subscription link.
"Most choose to start over but few realize what's really involved," E-Tech's John Rocha said. He pointed to a list of what needs to be done to start over with QuickBooks Online. Firstly a new subscription would have to be purchased, a company file would need to be set up, the chart of accounts would have to be customized, and lists would have to be imported or entered, company settings and invoices would have to be customized.
QuickBooks Online would also then have to be connected with the bank and credit card accounts as well as any integrated apps, transactions would have to be re-entered from the start of the year, "opening balances" like unpaid customer invoices and unpaid vendor bills as of the start of the period would also have to be entered.
Rocha also pointed to the fact that historical information may not be included in the new QuickBooks Online file. "It can be a time-consuming process for those not too familiar with the process," Rocha said.
E-Tech's simplifies the entire process of resetting or purging a company data file with its File Reset Service. This service deletes all closed transactions from a data file providing a clean data file to work with. This new data file will contain beginning balances and open transactions.
More service specifications for E-Tech's QuickBooks Company File Reset Service can be seen at https://quickbooksrecovery.co.uk/quickbooks-file-data-services/quickbooks-company-file-reset-service/ .
E-Tech is the leading service provider of QuickBooks File Repair, Data Recovery, QuickBooks Conversion and QuickBooks SDK programming in the UK and Ireland. In their 20 years plus of experience with Intuit QuickBooks, they have assisted over 1000 satisfied customers with their requirements. E-Tech UK covers US, UK, Canadian, Australian versions which include Reckon Accounts, and New Zealand versions of QuickBooks through PC and Mac platforms.
For media inquiries regarding E-Tech, individuals are encouraged to contact Media Relations Director, Melanie Ann via email at Melanie@e-tech.ca.
To learn more about the company, visit: https://quickbooksrecovery.co.uk/
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