Hello again Tooldoc,

I'm glad to hear that you've been in touch with support and I'd like to clarify the options available with creating a new company file from an existing one. When you use this feature, lists as well as open balances on the various accounts in your company file. This helps ensure that you don't have to re-enter your data completely from scratch and you can enter transactions against the open balances as needed.

Feel free to give it a shot to see if it meets your needs. It won't affect your current company file, but you can create a backup as an extra precaution if you'd like. This article can help with creating a backup file: Back up your QuickBooks Desktop company file

It's good you've submitted feedback as well since it helps us continue to grow the program. I'll be around if you have further questions!