Knowledge Base

12048: Importing Data from QuickBooks into Drake Tax Software

File Maintenance Generally

How do I import data from QuickBooks into Drake Tax?

You can import tax information from QuickBooks into Drake Tax by first exporting the file from QuickBooks, and then importing the file into Drake Tax. We recommend that you always make a backup of your Drake files and the QuickBooks files prior to continuing with this process.  

This process is not available if using the online version of QuickBooks. 

Export the File From QuickBooks

  1. In QuickBooks, open the client from whom you want to export information.
  2. Select the Reports tab; select Accountant & Taxes option; select Income Tax Summary.
  3. Once the report is on the screen, go to the Modify Report tab. Click Advanced.
  4. Under Display Rows, select All.
  5. Click OK.
  6. Select the Print tab above the report.
  7. Click File.
  8. Ensure the selection says ASCII Text File.
  9. Press Enter
  10. Enter a unique file name, such as ABC Tax Summary.
  11. 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

  1. Select Tools > File Maintenance > Import Data .
  2. Select QuickBooks Financial and Accounting Software.
  3. Click Next
  4. The Instructions screen appears, click Next.
  5. Step 1. Import File Name – Use the Browse button to locate the file to be imported. Refer to steps above for file name and location.
  6. Select the file to be imported, click OK.
  7. Step 2. Enter the SSN/EIN for the client. This number is used in Drake Software to reference the tax return.
  8. Click Next.
  9. Step 3. shows the Business Type. If the business type has multiple options, you are presented with a drop list.
  10. Click Yes. The QuickBooks Import – Step 4. window appears.
  11. Review the information in the window.
  12. Click Back to correct any information or Finish to begin the import process.
  13. The import process will occur quickly. When done the data entry screen opens.

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