How to Share your QuickBooks File with a Buyer
Chris Barrett
Introduction
Once you’ve gone under LOI with a potential buyer for your business the buyer will begin to conduct their due diligence. Sharing access to your QuickBooks file can make this process much faster and easier for bother parties. In this article we’ll be showing you just how to do that.
QuickBooks Desktop
When sharing a QuickBooks Desktop file for an acquisition we recommend do so via a QuickBooks Backup Copy.
To send a QBB file follow these few easy steps:
- Open QuickBooks Desktop and sign in to your company file as the administrator or in Single-user Mode.
- Go to the top menu bar, click File, hover over Back up Company, and select Create Local Backup.
- Select Local Backup in the pop-up window, then click Next.
- In the Local Backup Only section, click Browse to choose where you want to save the .qbb file on your computer or external drive.
- Select Complete verification under the backup settings to test your data integrity before saving, then click OK.
- Select Save it now and click Next.
- Choose a name and destination for your backup file, then click Save.
QuickBooks Online
If you utilize QuickBooks Online sharing access to your account is even easier.
To do so follow these simple steps.
- Sign into your account as the primary admin.
- Select the gear icon for Settings and then select Manage Users.
- Select the Accountants tab.
- Finally, enter the email of the buyer’s financial due diligence provider and select Invite.
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Disclaimer
The content contained in this blog post is intended for general informational purposes only and is not meant to constitute legal, tax, accounting, or investment advice. You should consult a qualified legal or tax professional regarding your specific situation.