Importing Data from QuickBooks into Drake Tax Software
The information you can import consists of tax information. If data is not necessary for a tax return, it will not be part of the QuickBooks report that you import.
Two steps are needed to import client data from QuickBooks into Drake: export the file from QuickBooks, and import the file into Drake.
Note: Back up Drake files and the QuickBooks files prior to importing client files.
Export the File From QuickBooks
- In QuickBooks, open the client from whom you want to export information.
- Select the Reports tab; select Accountant & Taxes option; select Income Tax Summary.
- Once the report is on the screen, go to the Customize Report tab. Select Advanced.
- Under Display Rows, select All. Click OK twice to display the report again.
- Select the Print tab above the report.
- Under Print To select File.
- Ensure the selection says ASCII Text File.
- Click Print, and when the print dialog box appears, enter a unique file name, such as ABC Tax Summary.
- Save the file, noting the location so that you can browse to it later. The file is normally saved in the following subdirectory: C:\Program Files\Intuit\QuickBooks Pro\
Import the File Into Drake
- Select Tools > File Maintenance > Import Data and select QuickBooks Financial and Accounting Software.
- Click Next and review the instructions for creating a QuickBooks export file.
- Click Next and use the Browse button to locate the file to be imported. Refer to steps 8 and 9 above for file name and location.
- Select the file to be imported and click OK.
- Enter the SSN/EIN for the client. This number will be used in Drake Software to reference the tax return.
- Click Next.
- Choose Business Type from the drop list.
- Click Next. The QuickBooks Import - Step 4 dialog box appears.
- Review the information on the dialog box.
- Click Back to correct any information or Finish to begin the import process. The import process should occur quickly. When done the Data Entry screen opens.