Importing QuickBooks Online Accounting Data

[Ryanvv126]

Hello Everyone,

I was just wondering if anyone else tried out this new feature that came out with the 17.3 release? It is definitely short on some line items when doing the tax mapping. However, it is not bad for importing a simple Schedule C.

[Jack from Ohio]

I never trusted the export/import of tax information from QB.  The function is not complete and fraught with errors.

[ILLMAS]

I remember it being a mess about 18-20 years when it was first introduced , even if you mapped an expense to the correct tax line, the bottom line never matched.  We thought it was going to make business returns a piece of cake, the firm dropped it and went back to preparing returns the old fashioned way.

[Catherine]

I'll chime in too; I have NEVER liked the QB tax mapping/import.  Plus I find the online version even *more* fraught with problems.  Heck, I have QBO clients whose bank feeds mess up on a regular basis, and some of them just gave up and enter everything manually.  Faster and more accurate than fixing double entries and missed entries.  

Print out (even just to pdf) a good P&L and work from that.  You'll know where every entry came from and won't waste time chasing down irregularities.