QuickBooks allows users to create an accountant’s copy of the company’s data files, allowing the practitioner to review and adjust prior period data while the client continues to process transactions in the original file for the current period. In QuickBooks Premier-Accountant, practitioners can open their client’s previous year’s QuickBooks data files as well as the current year’s QuickBooks data files using the accountant’s copy feature and make changes. The client will be able to import the changes back into their previous year’s QuickBooks data file even though the practitioner used a newer version of QuickBooks. The client sets the dividing date that determines when the practitioner can edit transactions in an accountant’s copy. After adjusting the accountant’s copy, the practitioner can export the changes to a new file and the client can then import the practitioner’s changes into the original data file.
Note: In other file types such as backup (.qbb) or portable company files (.qbm) there is no backward compatibility. Therefore, once the file is open in the newer version of QuickBooks the file can no longer be read with the older version of QuickBooks.
With an accountant’s copy, a practitioner can—
- Add new accounts to the chart of accounts and edit existing account names and numbers.
- Delete existing accounts from the chart of accounts.
- Record and memorize general journal entries. (Although the memorized transaction will not get back to the client.)
- Post general journal transactions to account registers.
- Adjust inventory quantities and values.
The accountant’s copy has its limitations, however. Practitioners may not perform the following activities using the accountant’s copy:
- Enter or memorize transactions other than general journal entries or account register postings after the dividing date
- Reconcile bank accounts in any period that ends after the dividing date. (The practitioner can reconcile periods ending after the dividing date if it helps with their work, but those changes will not be sent back to the client.)
- Use the “Adjust payroll liabilities” feature
- Edit or delete existing payroll items
- Add new items to the payroll item list
- Delete existing inventory part items
Note: The practitioner and the client generally have to use the same version of QuickBooks for the accountant to make changes using accountant’s copy. However, in QuickBooks Premier-Accountant, practitioners can open their client’s previous year’s QuickBooks data files as well as the current year’s QuickBooks data files using the accountant’s copy feature and make changes.
For more on HOW to
- Create the Accountant Copy
- Work with the Accountant copy
- Create an export file
- Import the changes
- Note client restrictions
See the full explanation at http://www.nacpb.org/tip/quickbooks.cfm