QuickBooks allows you to create a separate copy of your company file to send to an accountant or other third party who needs to work with your financial information. The other party can modify the prior period data without disturbing your current operations. You must set a dividing date for the file. The accountant can change transactions prior to this date, and you can continue to post new transactions after this date. When the accountant is done making changes, you can incorporate both files back into one master company file.
Step 1: Save the File
Save the file you received back from your accountant in a location you will remember. The exact procedure depends on how the file was sent to you. For most email providers, right-click on the attachment, select "Save As" and then choose the appropriate subfolder.
Step 2: Import the Changes
Log in to your company file as the administrator. Select File from the top menu bar. Mouse over the Accountant's Copy option until a submenu appears. Select Import Accountant's Changes to begin the import process. You will see this option only if you have previously generated an accountant's copy and not yet incorporated its changes into your company file.
Step 3: Review the Changes
Review the list of pending changes in the Incorporate Accountant's Changes window and read any notes left by your accountant. Each change will be listed as a separate line item. Click the + sign to expand the detail and the - sign to collapse it. You can also use the Expand All and Collapse All buttons to perform these actions on all of the listed transactions.
Step 4: Create a Backup
Click Incorporate Accountant's Changes when you have reviewed all of the transactions. A dialog box will pop up to inform you that QuickBooks needs to close all windows to perform this task. Click OK to proceed, and you will see another dialog box stating that QuickBooks will create a backup of your existing company file. Click OK and select a location for the backup file. You will see a screen with the results when the backup is completed and all of the changes have been incorporated. Click Print or Save as PDF to generate a report.
Keeping the Main File Intact
If you decide not to incorporate the accountant's changes, you must release the restrictions on the main company file.
- Click File and select Send Company File.
- Select Client Activities and choose Remove Restrictions from the list of options.
- Check the the box that says "Yes, I want to remove the Accountant's Copy restrictions" and click OK to proceed.
- Notify your accountant that you have decided not to import the changes. QuickBooks does not send an email notification when the restrictions are removed.