Among small and medium-sized enterprises, QuickBooks is the most often used accounting program. Business owners frequently have multiple inventories to transfer for different purposes. Users need to transfer inventory between companies quite often; thus, QuickBooks provides an easy method to transfer inventories between companies in QuickBooks. Moving inventory between companies involves some technicalities that you need to take care of. Through this article, we will explain you the detailed steps for QuickBooks Transfer Inventory Between Companies.
Steps by Steps Instructions for QuickBooks Transfer Inventory Between Companies
The steps are as follows if your version of QuickBooks allows for the exporting and importing of data from your desktop:
★ The company from which you want to transfer your data should be found after logging onto your QuickBooks accounts
★ Select the exports tab from the Export/Import function, then select the list of inventory you wish to export
★ When you select export, QuickBooks will download your file relating to the computer’s desktop
★ Open the new company file to which you wish to import the data now
★ Then, choose the import option and navigate to the folder on your computer where you downloaded the inventory list
★ Choose the file, then click on the “Upload Data” tab
★ By doing this, the whole inventory list will be transferred to your new QuickBooks company file.
Conclusion
Hopefully, this information helps you QuickBooks Transfer Inventory Between Companies, but sometimes you can face several issues while using or performing the steps. If you are not able to understand any point in this article or you are having some issues while performing the process then you can get our ProAdvisor from our QuickBooks Helpdesk Team.
Frequently Asked Questions
How Do I Add a Location in QuickBooks Transfer Inventory Between Companies?
The below steps help you to add a work location in QuickBooks:
🔹 Click Payroll Settings after clicking your company name in the top right corner
🔹 Go to the Company and Account and select Work Locations
🔹 Click on the “Add a work location” tab
🔹 Click the Save button after entering the new workplace’s address.
How to Transfer Funds From One Company to Another in QuickBooks?
To transfer money from one company to another in QuickBooks, follow these steps:
🔹 The “Create” icon will appear in your QuickBooks window
🔹 Once you are in the “Vendors’ section, select “Check” or “Expense”
🔹 Select the bank accounts where the money is coming from
🔹 Enter the necessary information for “Payee”, “Payment Date”, and “Payment Method”
🔹 Go to the “Category” column when you get to the “Category details” option
🔹 Choose a “Asset” or “Equity” account from the list to display the money leaving the company
🔹 Put the amount you are transferring in the “Amount” section
🔹 At last, click on either the “Save and Close” or “Save and New” button.
What to Do if You Want to Change a Bank Transfer to Payment in QuickBooks Online?
Follow the instructions below to change the bank transfer’s category in QuickBooks Online from “Transfer” to “Payment”:
🔹 From the left panel, select the “Banking” menu
🔹 Select “Banking” from the list of options
🔹 Under “Bank and Credit Cards,” select the “For Review” area by clicking there
🔹 Click on the downloaded transaction that you need to classify as payments after finding it
🔹 Check the box next to the “Find Match” button that says “Add”
🔹 All necessary information should be entered, including Vendor/Customer, Category, Location, Class, and Memo
🔹 At last, press the “Done” button.
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