QB Issue Resolution:

all you can do is cancel your subscription, then intuit keeps it as read only for one year, and then deletes it

You need to have business records saved going forward against the event of an IRS or state audit – and that is a major problem with QBO

QBO does not have a back up at all from the user perspective.  And when you close your account Intuit will only save the company data as a read only file for one year, then it is deleted  – which does not help if an audit occurs in year 2 or 3.

Intuit backs the servers up, but can not restore your file from that back up

US Versions ONLY: Both of the QBO export options to the desktop do not work accurately, not everything is exported, inventory item types are changed with no history, payroll checks are just expense checks, and the make local copy can not be used or opened from desktop.  These known problems have existed for over 7 years.

The only real option to get all your data for archiving against a future audit is to have an accountant log in and print or export to excel the general journal. (Or invite yourself as the accountant, create the log in, and log in as the accountant so you can use the accountant tools.) Due to QBO’s limited data handling capability that will probably have to be done in date segments.
(Note: simple start does not have a true general journal report at all.)

QBO data handling capability for reporting is not adequate, if there is more than 5K records it times out and reports that you have too much data.  You will have to do a journal report in date range segments, like Jan-Feb, Mar-Apr, etc etc.
How many months you can span per report is a guessing game since the report can not deal with more than 5K transactions.

Resolution for Issue 'My company will close shortly. How I close my quickbooks. Thanks' available: Yes (Solved).
Source: Intuit Community forum.

My company will close shortly. How I close my quickbooks. Thanks: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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