Press Preferences, and then go to the Company Preferences.Access QuickBooks and choose the Edit menu.Delete the closing date of your data file by the following steps:.Now, prepare your company file for condensing by following these steps.Read More About: QuickBooks Payroll Update Error PS038 It will not start condensing right now but will only run the report. Erase the transaction groups as you wish and press Next.Hit Summarize inventory transactions and choose how your inventory will be condensed later, press Next.Check-mark the optional box and choose Next.Select the Transactions before a specific date option and enter the required date.Locate Utilities and choose Condense Data option.Access QuickBooks and choose the File tab.To run the report, follow the steps listed below: You May Know About: Fixation of QuickBooks Error 601 Sales Tax Liability Report Invoices with sales tax no longer exist.Ī Condensed journal entry has an amount credited to income accounts, but QuickBooks doesn't know what part of the income is taxable and which part of the income is non-taxable.Ī Quick Guide to how to Use the QuickBooks File Condense Utilityīefore you begin condensing the company file, follow the instructions listed below to back up the transactions that will not be covered in the condensation of the File. For example, running a Profit and Loss by Class report will display all amounts in the unclassified column. Your accountant and your technical support have discussed other solutions and are willing to proceed with Condensing.Īny transactions encapsulated by the utility will not have classes assigned.You have recently upgraded all your hardware.You have a large data file, and you are nearing a list limit.Condensing cannot be reversed later, so we recommend Condensing only after trying the other solutions. QuickBooks Data Utility Tool is not reversible.īefore Condensing, ensure it's the best option for your company. May Also Read Related Post: QuickBooks Error Code 3371 Status Code 11118 Things You Need to Know about Condense Data utility If your accountant or adviser has discussed various other alternatives and has agreed to condense, then again, you need the help of QuickBooks to condense the utility tool.In case you have upgraded all the hardware of your system, a need for this tool arises.This tool must be used if you are closing to an inventory list limit.This tool is required if you want to import the Company File from QB Desktop to QB Online.However, that's not the only reason you need to use the utility below is a list of other reasons. It saves an archival copy of your data file and erases and summarizes the old closed transactions. The utility to condense data in QuickBooks is a tool to shrink or compress the size of a bloated company file that causes the overall issues in accessing QuickBooks. What is this QuickBooks Condense Data Utility, and why should you use Condense Data in QuickBooks? If you are unable to follow the steps, you can reach us at +1(855)-738-0359 to get quick assistance from our support team. This blog is a helpful guide to QuickBooks Condense Data Utility. It is a crucial part of the QB application as it lets the users delete an Audit Trail. This tool is specifically used for rectifying issues like File Condensing errors. QuickBooks Enterprise Condense Data aids you in streamlining your company data file. Sometimes while working in QuickBooks, users might encounter QB Condense data errors. QuickBooks is one of the most used accounting applications, among the best in the business market.
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