The process of transferring ownership of QuickBooks to a new person involves registering the product under the new owner’s name. Unfortunately, as per the Intuit’s “License Grant and Restrictions” policy, a user cannot transfer the software’s license to any other person. In some exceptional cases, when you sell your company or donate the license to another nonprofit organization, Intuit allows you to do so. Further, in this article, we have listed the complete method of transferring your QuickBooks subscription.”

QuickBooks desktop license transfer to new owner is required when you want to move QuickBooks to another system. Or if you wish to reinstall QuickBooks, you may have to transfer the license.

Learn the conditions of Intuit’s License Grant and Restriction Policy.

The license agreement for QuickBooks covers the conditions for transferring your license. This can only be done within your business or if you are moving to a new company. The US has a specific law that governs software licenses and states that these can only be transferred in limited circumstances.

How to Transfer QuickBooks License Ownership to New Computer

Currently, a user cannot transfer the QuickBooks software’s license to another party according to Intuit’s “License Grant and Restrictions” policy. However, Intuit enables this in select exceptional instances  to transfer QuickBooks license to new owner, such as when a firm is sold or when a subscription is donated to a non-profit organization.

You will receive a response email within 24 to 48 hours about your QuickBooks transfer request. These include moving the company or when someone hires you as a consultant.

• When a company is sold to the new owner, it includes the assets.
• In case the software is being donated to a non-profit organization.
• When the registration process is complete, there are many different information fields that sequence properly.

Transferring QuickBooks Subscription to a New user

When a Business is Sold to a New User

When somebody sells their company, they need to transfer the license for QuickBooks. Both people in the transaction need to fill out a form and sign it. A bill of sale will also be needed.

When a User is Donating the Program to a Non-Profit Organization

If someone wants to donate the QuickBooks license to a non-profit organization, they must submit a completed and signed 501 C Form from the IRS.

Changing Ownership Info when Incorrect Registration Information is filled

If someone has the incorrect information about their QuickBooks product, it’s possible to transfer the license for free. To do this, go to our help team with proof of purchase and we will assist you.

Use QuickBooks Migrator Tool to Transfer QuickBooks Data File to New Computer

You’ll require access to the company admin account in order to use the migrator tool.

The 2018 and later versions enable you to move QuickBooks desktop along with three company files to new computer.

The migrator tool works in the following manner:

• You need to create a complex password to secure your financial data. When you move the data to another system, you’ll require the password, so note it down somewhere.
• The tool only copies up to 3 last opened company files. The files are copied directly to the USB flash drive.
• With the USB flash drive, you can move the file to another system. When you copy the data from the USB drive, you’ll require the password you used to lock the data.
• The tool downloads and installs the correct version of QuickBooks, and it imports all the data into the newly installed software.
• No other files on the USB drive will be impacted in any manner.

Requirements for using the Migrator Tool transfer QuickBooks license to new owner:

• Your system must be connected to the internet.
• You’ll require free space on your USB flash drive to copy all the data.

Read More: How to Setup QuickBooks Transfer in Different Desktop?

Using the Migrator Tool

To transfer QuickBooks desktop license, you need to follow the methods provided below:

I. On your old system

Follow the steps provided below on the system from which you want to transfer the data:

• Launch QuickBooks and click on the File menu.
• Go to the Utilities menu.
• Click on Move QuickBooks to another computer.

• Click on I’m Ready, and enter the one-time password. Note down this password, as you’ll require it later.

• Wait for the QuickBooks files to be transferred to the USB flash drive.

II. On your new system

Follow the steps provided below on the system to which you want to transfer the data:

• Insert the USB flash drive with the QB data into your new computer.
• Launch the flash drive and double click on Move_QuickBooks.bat. The migrator tool will start.
• Enter the one-time password that you entered while copying the data into the flashdrive.
• Click on Let’s go.
• When the migrator tool transfers and sets up all the data, you’ll get a confirmation message.

Time taken to transfer all information from QuickBooks file to another will entirely depend on the sleep of your system and the type of device used for transferring the data.

Once the files are transferred, the migrator tool removes the data from the USB flash drive automatically, but the files will still be available on your old system.

To avoid using the wrong file, you can change the name of company files on your old system.

Note: If the migrator tool does not launch, then update windows 10 by following the steps provided below:

• Log into windows with an administrator account.
• Go to the start menu and type in ‘Windows Update’.
• Click on check for updates.
• If updates are available, click on download updates.
• Once the updates are downloaded, windows will prompt you to restart your system to install the updates.

Now What

The tool copies most of the information, but some is still left out. You may have to manually export that data and import it into the new system.

Data That Won’t Be Copied

The tool copies most of your financial data along with user information; however, it fails to copy so know how to fix when trouble with QuickBooks transfer & follow the steps below:

• Multi-user setup: the setup preferences and configuration isn’t copied to the new system.
• Intuit data protect: you must install and sign in into the service on the new system.
• Backup QuickBooks files: backup files created using QuickBooks aren’t copied to the new system. You need to move them manually.
• Payroll setup: you’ll need to register and sign into your payroll account in order to use it on the new system.

Read More: How to Reinstall QuickBooks on a New Computer?

Conclusion

Once you move QuickBooks to another system, you can configure the software according to your liking. Although you can transfer the files manually, the migrator tool makes the process easier by doing most of the heavy lifting.

To know more, you can get in touch with our experts.

Frequently Asked Questions