QuickBooks is the most popular Accounting application used worldwide by small and medium-sized businesses. It is known for providing advanced and innovative solutions to make accounting processes easier for its users. When you purchase a QuickBooks subscription and install it on your application, you need to provide your business information. Once you register your company with the QuickBooks Desktop application, you are supposed to use it with the same registration. Intuit normally does not allows users to transfer QuickBooks license to new owner. It is allowed in certain conditions only that we will discuss in this article.
“If you come across any issues when you transfer QuickBooks license to new owner, contact QuickBooks Technical Support at 1-(855)-856-0042”
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Situations when you can Transfer QuickBooks Subscription
Intuit provides the option to transfer QuickBooks subscriptions, but there are only certain situations when that is allowed. You must satisfy those conditions and then apply for the transfer to Intuit. It requires the ‘QuickBooks Transfer a License Form’ which you need to fill and then send to Intuit for review. After submission, they would mail you regarding the approval of transfer request. It usually takes 1-2 days for the review and approval when you request to transfer QuickBooks license to new owner. Situations, when such transfers are allowed, are as follows:
- When you sell your business to a new owner along with all the assets, you can transfer the QuickBooks license. It stays the same if you have bought a business.
- If the application is being donated to a non-profit organization then the QuickBooks license can be transferred.
- When incorrect user information was provided while registering your product after installation, you can request a transfer so that you can register it correctly again.
Understanding the Process of Transferring Ownership of QuickBooks
Now that we understand the situations when the QuickBooks license can be transferred, let us understand the process of transferring ownership of QuickBooks. The details of procedures and the required forms are mentioned below:
- If a business is sold to a new user along with all the assets, then both the selling party and the buying party needs to submit a completely filled and attested Transfer of License form. Signed notarized bill of sale is also required to be produced along with the Transfer of License Form (TOL).
- If you want to donate the QuickBooks software registered under your name to a non-profit organization, rules are different. The current owner would need to fill the 501C form provided by the Internal Revenue Service (IRS). You need to provide this form to QuickBooks along with a request to transfer QuickBooks license to new owner.
- When you install the application on your Desktop, you need to provide your business information. If you accidentally provided incorrect information during the registration, you will need to provide the proof of purchase to QuickBooks to register it on another name.
QuickBooks will check if the company fulfills the requirements mentioned above and the conditions to transfer as mentioned in the previous section. Your transfer request can be denied if this information is not provided properly.
Consideration for QuickBooks Online License Transfer
You should take into consideration some points before you perform QuickBooks Online License transfer. These have been mentioned below for you:
- Make sure that you have a stable internet connection to ensure that the QuickBooks license and the associated company data is transferred successfully.
- Any QuickBooks window should not be running during the transfer process to prevent any damage.
- Change the name of the file so that you don’t use the wrong file during the transfer.
- Running a virus scan before the transfer, ensures that the file won’t get corrupt.
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Through this article, we discussed the detailed steps to transfer QuickBooks license to new owner. We looked into the situation when Intuit allows such transfers and other related aspects of it. You should be able to perform the process easily following the methods provided above. If you face any issues and need help, contact QuickBooks Desktop Customer Service at 1-(855)-856-0042 and talk to our experienced and certified experts.
Erica Watson is writing about accounting and bookkeeping for over 7+ years, making even the difficult technical topics easy to understand. She is skilled at creating content about popular accounting and tax softwares such as QuickBooks, Sage, Xero, Quicken, etc. Erica’s knowledge of such softwares allows her to create articles and guides that are both informative and easy to follow. Her writing builds trust with readers, thanks to her ability to explain things clearly while showing a real understanding of the industry.