Converted to a new accounting system from QBO. What QBO data do I need to keep in the event of an audit?

Here is a list of reports I recommend to have it on record (export to excel, or save as pdf) before canceling the QBO subscription:

  1. General Ledger (All Dates). Depending upon the file size limits, it may need to be downloaded in batches.
  2. Trial Balance by Fiscal Year Ending
  3. Bank Reconciliation Reports (for last three months)
  4. A/R Aging Report
  5. A/P Aging Report
  6. Open Invoices to match A/R Aging Report
  7. Open Bills to match A/P Aging Report
  8. Profit and Loss by Fiscal Year
  9. Balance Sheet by Fiscal Year Ending
  10. Sales Tax Liability Report (+ Taxable Sales Detail and Summary)
  11. Contact List (Vendor and Customer)
  12. Chart of Accounts

Note: Even after QBO cancellation, you will still have access to company file for a year. Just make sure the account is canceled, not suspended.