The option to downgrade from QuickBooks Online (QBO) to QuickBooks Self-Employed (QBSE) is not possible since these two programs are different. You’ll have to cancel your existing QBO account and then create a new company in QBSE.
Before doing so, you’ll have to export your chart of accounts, products and services, reports, customers, and vendors to Excel.
Also, you'll have to manually enter the transactions that are on your QuickBooks Online account.