Articles
How to Make Use of QuickBooks Condense Data Utility?
by Ruth Mazur Accounting and Bookkeeping ProadvisorQuickBooks accounting application is used by small and
medium-sized business organizations all over the world. The primary reason for
choosing this application is its advanced features. Business owners are highly
benefited from this application is it helps in business management. QuickBooks
Condense Data Utility helps to streamline your company data file.
QuickBooks Condense Data Utility- In Layman’s Term
QuickBooks Desktop 2019 edition comes with the latest Condense
feature. The Condense Data Utility enables an option to delete or remove the
audit trail that decreases the file size but keeps the detailed transactions
accurately. The QuickBooks Condense Data Utility is also known as QuickBooks
Condense Repair Tool. It is mainly used to fix the problems that arise because
of File condensing. Undoubtedly, it is quite an essential part of the
application.
How
to Use QuickBooks Condense Data Utility (Simple and Easiest Way)
The QuickBooks Condense Data Utility offers many exciting
features.
Below is a detailed step-by-step guide that the users can use to
utilize all the features before condensing the company file.
Firstly,
Look for the Transactions that Cannot be Condensed
You must RUN reports to check the transactions that cannot be
condensed.
Secondly,
Condense after the RUN is Complete
RUN the report and then proceed to condense the
QuickBooks company file.
- Open QuickBooks, go to File
- Click on Utilities and click on Condense Data.
- A wizard tool will come up on the screen. You must select ‘Transactions before specific date’ and enter the dates correctly.
- After that, click on Next and select the ‘Summarize Inventory Transactions’ option.
- Next, select a method of condensing inventory.
- Select the Transaction groups that you wish to remove
- To initiate the condensing process, click on ‘Begin Condense.’
Thirdly,
Preparing the Company File
- Delete the data file closing date
- Now, go to Edit and click on Preferences
- Next, select Accounting and then click on Company Preferences
- Make sure to mention the date in the closing date area
- Remove ‘Date’ from the Closing Date Box and click OK
- You must Run Profit & Loss and Balance Sheet to get an overview of the transactions.
- Once this is done, run, rebuild, and verify the data utility files ensuring there is no damage to the Data
- Lastly, copy the Company file and create a backup
Fourthly,
Save the Comparison report
You must ensure to make a copy of all the essential reports and
save them in a PDF format to avoid the deletion of any information when the
File is condensed. Some important documents that you must consider saving are:
- Cash Flow Statement
- Profit and Loss, Balance sheet
- Account payable and Account Receivables
- Other books that are important and required by the accountant or user.
Process for Condensing QuickBooks desktop company
file
- Run the QuickBooks Condense Data Utility
- Open QuickBooks and go to File Menu.
- Click on Utilities and go to Condense Data
- Now, click on your choices to proceed with condensing the File.
- Once the selection is made, start the process of condensing by clicking on Begin Condense.
Summary
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About Ruth Mazur 
Accounting and Bookkeeping Proadvisor
3 connections, 0 recommendations, 17 honor points.Joined APSense since, January 8th, 2021, From Cheyenne, United States.
Created on Feb 19th 2021 12:16. Viewed 367 times.
