Have you been using the incorrect QuickBooks international edition and now need to switch to a different edition? Your data file can be converted between different international versions. You could convert from QB Canada to QB US, QB UK to US, or vice versa, for instance. For VAT filing requirements, QuickBooks can also be converted from the US to the UK version.
There are numerous versions of QuickBooks available for various locations. Although there are regional differences in the database structure and functionality of various QuickBooks versions, accounting standards, and financial regulations are consistent across nations.
Today, we’re going to walk you through the entire conversion process from QuickBooks Canada to QuickBooks US in this blog.
Things to Consider When Converting a Company File:
While converting QuickBooks Canada to QuickBooks US, there are many considerations to keep in mind:
- Payroll checks are the only checks transferred as regular checks. It is possible to remove all negative inventory and data files.
- There may be some currency-related variations in the amounts.
- The section that is unavailable in the US version will not be present in the converted file. You can make a custom section to transfer this kind of information.
System Prerequisites for QuickBooks Canada to US Conversion:
Before converting the QuickBooks Canada version to the US, you must fulfill all system requirements.
The following list includes every system requirement for this conversion process:
- The operating system should be Windows 8 or newer.
- The QuickBooks Pro, Premier, or Enterprise version must be 2018 or newer.
- RAM must be at least 512 MB in size.
- With Sage 50 2013 or a later version, make sure you have a reliable internet connection.
- It’s necessary to have Microsoft.NET Framework 2.0 or a newer version.
- At least 2.5 GB of free hard drive space is required.
- At least a 500 MHz processor is required.
Comparing QuickBooks Canada and QuickBooks USA
Small business owners abroad may experience some frustrations with QuickBooks because the localized versions created for use in other nations do not have all the same features as the version created for American small business owners. Although the product is known by different names depending on the country, including QuickBooks Online, QuickBooks Enterprise, QuickBooks Self-Employed, etc., we’ll refer to the standard American version of QuickBooks software as “QuickBooks USA” for our article.
Canadian business owners need to understand the differences between QuickBooks USA and “QuickBooks Canada.” Even though QuickBooks products are sold under the same names in both the United States and Canada, small business owners in Canada don’t purchase the same products as their American counterparts. Thankfully, QuickBooks offers a broad range of features, the majority of which are compatible with QuickBooks Canada. You can expect the following from QuickBooks Canada in terms of language, taxation, features, and cost.
1. French Version Currently Available:
QuickBooks has a French language version to cover both of Canada’s official languages. QuickBooks’ French-Canadian edition has been expertly translated and fully localized for local use.
If French is your mother tongue and you prefer to use QuickBooks in French, pick the French language version. You can create invoices in English, Canadian French, Spanish, Italian, Traditional Chinese, and Brazilian Portuguese, so don’t worry if your clients don’t speak French.
2. Various Tax Structures
The two versions of QuickBooks reflect this significant difference in bookkeeping, which is how taxes are handled differently in Canada and the U.S. For instance, the U.S. has a sales tax while Canada has both a sales tax and a goods and services tax (GST) that must be considered.
Additionally, the Canadian tax system links taxes to the item, whereas the American tax system links taxes to the customer. As a result, they display differently within the software.
3. Not all add-ons are available:
Even though QuickBooks is excellent bookkeeping software on its own, there are times when adding one or two more features increases its effectiveness and productivity as a tool for managing a business. That’s where extensions or integrations from both QuickBooks and outside developers come in handy.
Look no further than Smart Service if you require scheduling, dispatching, and work order integration. With the only real-time connection in the industry, Smart Service leads the pack when it comes to QuickBooks USA or QuickBooks Canada integration.
4. Price and Plan Variations
Simple Start, Essentials, Plus, and Self-Employed are the four pricing tiers that QuickBooks USA and QuickBooks Canada currently offer for small businesses. QuickBooks USA does, however, provide an additional tier above Plus called Advanced, which includes a few extra features like invoice importing, integrated Fathom reporting, and access to Priority Circle customer service.
Silver, Gold, and Platinum are the three plans that QuickBooks USA offers for enterprise businesses (with or without hosting) to fit your budget. The Platinum version offers advanced inventory and pricing features that are not available with the Silver or Bronze versions, and the Gold version expands the Silver plan’s payroll capabilities.
On the other hand, QuickBooks Canada allows you to customize your enterprise package based on the number of users you’ll have (up to 30), and allows you to choose advanced inventory and pricing add-ons if you want them (they’re free for ten or more users), and even provides a customizable hosting package.
Remember that the prices you see for each product are given in the local currency: QuickBooks USA displays prices in USD, while QuickBooks Canada displays prices in Canadian dollars.
Conditions for Transferring Payroll Data from QuickBooks Canada to QuickBooks USA:
There are a few things to consider when converting QuickBooks Canada to the US edition if you’re using desktop software:
- For reports and mailings to have a more distinctive feel, you must alter the templates.
- It is not possible to transfer templates from the program or ones the user creates. A negative inventory count should be removed from any data files or inventory.
- Mistakes could be made if they were combined.
- There will be no migration of QuickBooks notes or to-do lists.
- The only way to transfer payroll checks is as regular checks.
- The converted file won’t include any fields that aren’t available in QB US. You might need to set up a custom field to send this kind of data.
- There is no transferability of bank reconciliation statements.
- This suggests that the checks won’t be used in the payroll report or W2 tax calculation.
Things that are Difficult to convert or transfer:
QuickBooks does not permit the transfer of payroll transactions from one file to another. Payroll checks, complete with line-item information, will be transferred as regular checks.
The primary file does not receive usernames from the secondary files. After the merger or conversion, you will need to create new users.
- Data about budgets cannot be moved.
- Not converted are bank reconciliations.
- Due to QuickBooks’ inability to accurately calculate P&L COGS and B/S inventory amounts with files that contain negative inventory, data files with negative inventory and/or assembly builds may not convert correctly.
- In files with multiple currencies, transfers must be transformed into journal entries.
- Since QuickBooks does not keep track of historical rate changes, data files containing sales tax items and sales tax groups that were changed after they were first used might not be transferred correctly.
- The QuickBooks data file you are converting to does not convert any fields that are not present in the international version.
- Due to QuickBooks’ lack of support, templates cannot be transferred.
- QuickBooks does not support the transfer of attachments, so they cannot be transferred.
- There is no transfer of customer notes or to-do lists.
- Transaction definitions that have already been memorized must be repeated because they are not transferred.
- Reports that have already been memorized must be repeated because they cannot be transferred.
- Budgets and forecasts must be entered from scratch because they cannot be transferred.
- The user must be entered again because they are not transferred.
- You will probably need to make adjusting entries to get the sales tax or VAT reports the way you want them because they differ from each other.
- There are differences there as well because other international editions permit or even require the use of multiple VAT accounts, whereas the US version only has one sales tax account.
- Due to restrictions in the QuickBooks SDK, the exchange gain/loss will differ in the converted file. Gain and loss are handled differently in the US, UK, and Canadian versions of the software. When multiple currencies are involved, gain/loss differences will always exist. The converted file’s retained earnings will differ due to variations in exchange gains and losses.
Steps to Convert QuickBooks CA into QuickBooks US:
QuickBooks is a flexible program that enables you to gather customer information efficiently and accurately. The program gives businesspeople like your countless capabilities. You must register for a new account on the US website using this link because QuickBooks Canada is different from the US version. You can import data from the Canadian version once you’ve successfully created a US account. You must first export your data from the Canadian version to begin.
Step 1: Before converting a QuickBooks Canada company file to a QuickBooks US edition, take a backup of it.
The steps for backing up a company file in QuickBooks are listed below in case you want to create a backup of your QB Canada company file before converting it to QB US Edition:
- Begin by choosing File from the main menu.
- Switch to single-user mode (if you’re currently in multi-user mode).
- Click File just now.
- By moving the mouse over it, back Up can then be accessed.
- Pick Create Local Backup after you’re finished.
- There will now be a new window displayed. In the newly opened window, select Local Backup.
- To continue, click the Next button.
- From the Local Backup Only section, click Browse right away.
- Pick a location for the backup copy of your QuickBooks company file. (At this point, you can specify how many backups QuickBooks should keep. This implies that the limit-exceeding backups from the past will be deleted.)
- Click the OK button when finished.
- Finally, click Save It Now after clicking Next.
- Note: You can enable automatic updates in QuickBooks. However, this might not work for clients who simply want to upgrade to a newer version of the accounting software.
Step 2: Moving QuickBooks CA Payroll to QuickBooks US
- From the Gear Icon, select Account and Settings first.
- Select Payroll now.
- After that, press the Cancel button. Your subscription to Canada Payroll will be canceled as a result.
- When finished, click Continue.
- Finally, either finish the survey or click Cancel Payroll Service.
1. What distinguishes QuickBooks from QuickBooks Canada?
Although QuickBooks products have the same name in both the U.S. and Canada, small business owners in Canada don’t purchase the same products as their American counterparts. Most of the features from QuickBooks’ extensive feature set are, fortunately, also available in QuickBooks Canada.
2. What exactly is QuickBooks Canada?
QuickBooks is a flexible program that enables you to efficiently and precisely gather customer information. The program gives your company countless capabilities.
3. How does QuickBooks Online handle foreign currencies?
When you select the appropriate foreign currency during the setup of your supplier, QuickBooks Online handles the rest of the conversions and exchange rates.
4. How many different QuickBooks versions are there?
QuickBooks Online, QuickBooks Self-Employed, QuickBooks Desktop Pro Plus, QuickBooks Desktop Premier Plus, QuickBooks Enterprise, and QuickBooks Mac Plus are the six versions of QuickBooks that allow business owners to manage their accounting and finances. Each QuickBooks product has a different target market, price, features, and usability.
5. Which QuickBooks edition is most suitable for small businesses?
For users who already have accounting experience or who prefer a locally installed option, QuickBooks Pro, Premier, Enterprise, and Mac are the best options. The operating system on your computer and the size of your company are the two main distinctions between the versions.
6. Is QuickBooks the best option for your company?
Whether you run a small business or are self-employed, QuickBooks makes it simple to stay on top of your finances from any location. To reduce stress during tax season, concentrate on growth, and make better business decisions.
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