Many a times we go on creating files and entering data into QuickBooks and end up with a lot of transactions and a huge file. Many of us outsource our accounting and QuickBooks work to an outside firm. They compile the information and return the whole file to us which sometimes exceeds the limit of file size allowed in QuickBooks Pro and Premier. A huge file can also slow down the processing of your QuickBooks and system which will cause hindrance to the overall performance.
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If you do end up with a huge file on your hands then there is not much you can do with it in QuickBooks as Intuit advises people with a file exceeding 150 mb limit to upgrade from Pro or Premier to Enterprise. Still, they forget that QuickBooks Enterprise comes with additional tools that may not be required by many businesses. Enterprise’s benefits can exceed the cost and the whole software can be exorbitant at times.
An option that may be used in QuickBooks is Condense Data Utility. This takes your company data and condenses it by removing the unused fields and lists. It will also create a summary of all your journal entries. There is no downside to you having a summary journal as they both affect your QuickBooks account in the same manner. This method should be used as a last resort to improve the performance of your QuickBooks. As an alternative you can try to create a new company file and store your data in that.
Follow the steps below to do this:-
- Goto File in Menu.
- Select Condense Data after clicking on Utilities.
- The wizard will walk you through the available options.
- Select everything that you want to perform a clean up on. For example you may want to clean up the inventory or customer statements.
- Hit the BEGIN CONDENSE option and QuickBooks will condense your company file as much as it can.
Make sure to backup all your data before performing the above action. Condensing can also end up damaging your file. In that case your only option would be to restore a backup. Also, while condensing make sure your system does not crash due to improper power supply. Also, while running condense on the data file uploaded on the cloud, make sure that your internet connection is working properly and does not disconnect.