LLC to S Corp in QuickBooks

[wildflower]

We have a small consulting firm that was established last year. We initially set up the company as an LLC with two partners, owning 50% each. We utilized QuickBooks as our accounting software last year. We have since elected to be taxed as an S Corporation and I am trying to complete our taxes for last year as such. Does anyone know how to alter the company set up in QuickBooks from an LLC to an S Corp, in order for the information to be imported properly into Turbo Tax? Do I have to establish a "new" company or can I simply alter the current one? If I do have to start from scratch, how do I import all the information for this year and last so that I do not have to reenter anything?

Thanks in advance for any help provided!

[nealrm]

First thing I will suggest is to find something other that QuickBooks for your accounting software. Moving data into and out of QuickBooks is generally a nightmare. The program is EXTREMELY inflexible. Once the data is in it comes out only in reports or via less than simple programing. Data goes in via the program or can be entered via some complicated programing. In general you do things either the Quickbooks way or spend more time trying to get it in via other programing.