Hello there, @SMBakerBooks. I want to help you start a new company file using data from a current file in QuickBooks Desktop (QBDT).
Thanks for getting back here and sharing your insights about the recommendation of my colleague. The steps provided are to use the Condense Data tool to create a new company file from the existing one. In this method, you'll need to delete the transactions in the existing file to start fresh.
As another option, you can also create a new company file and carry over the data you need from the existing file. I'll guide you on how.
To start, let's keep a copy of your account balances (2023 1st quarter balances) for 4/1/2023. This will be used to enter your beginning balances. Here's how:
- Ensure your books are up to date. Then, go to the Reports menu.
- Next, select the report you want to keep a copy of:
- Account balances: Select Company & Financial, then Balance Sheet Detail.
- Customer balances: Select Customers & Receivables, then Customer Balance Detail.
- Vendor balances: Select Vendors & Payables, then Vendor Balance Detail.
- You can also customize the reports and set the correct date.
- On the report window, select the Print dropdown.
After that, you can now export your lists to avoid entering them manually. The data from your old company file will be carried over to your new one.
Next, create a new company file.
Once done, import your lists and enter the beginning balances.
When finished, you can re-set up your QuickBooks features and services to help you manage your books. For reference, check out this article: Start a new company file with data from your existing file.
I'm just around the corner if you have any other concerns about managing your company file.
