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ShadyLady
Level 2

Create a new company file from the existing company file?

What gets carried over to your new file.  I want same vendors, same customers with their contact information, chart of accounts and lists.  What I do not want is previously created invoices with all the mistakes I have made trying to learn QuickBooks.  Or the many templates I have created and did not like.  I want a fresh start but I don't want to have to re-create all of the emails, telephone #'s

23 Comments 23
bnb1209
Level 1

Create a new company file from the existing company file?

I want to create a new company with same vendors/customers but new item lists, new chart of accounts, new classifications and last FY balance sheet info/inventory info
RCV
QuickBooks Team
QuickBooks Team

Create a new company file from the existing company file?

Great to hear from you, lap2016.

 

I'd be glad to help you create a new file from your existing company file in QuickBooks Desktop. 

You can create a new company file by copying the existing file with the same vendors, customer contact information, chart of accounts and lists.

 

Aside from that, all the lists, transactions, templates, and preferences in the original company file are also carried over. Since an invoice and template transactions will be also carried over, you'll need to manually delete them so you can remove the transactions in the new company file.

 

If you don't want to manually delete them, you can create a new company file. Then, you'll need to export the lists from the original company file and import them into the new company file. 

 

You can check out this article for detailed troubleshooting steps on how to create a new company file from the existing company file: Create a new company file by copying an existing one.

 

As always, you can contact our Technical Customer Support Team if you'd like someone to be with you as you go through these steps.

 

I'm confident this will take you in the right direction. Please keep me posted if you have any additional questions, as I'm always here to help. Wishing you the best. 

ShadyLady
Level 2

Create a new company file from the existing company file?

Thanks, I am going to attempt this.  Your help is appreciated.
Anonymous
Not applicable

Create a new company file from the existing company file?

I have a similar scenario, but I use QuickBooks Online. I recently Incorporated and need to separate my business from my sole proprietor. I would like to keep my vendors and clients and items I bill. But, from reading this, it seems I may need to just start a new file and re-set it up. I don't want to loose the ability to run a report of my past sales if I ever need proof of income for home refinancing or something like that. How would I preserve the old data for safe keeping. I would need to close the old Quickbooks Online account. I do not have a desktop version to run if I exported the data. I am on a Mac and aware that I could export the data and use the desktop version if I was on a pc (before QuickBooks Online I used and app to run windows just for quickbooks!) Do you have any other solutions?

JamesDuanT
Moderator

Create a new company file from the existing company file?

Thanks for joining the thread, Sharrow. I'd like to join in on this as well.

 

Exporting and importing lists are the recommend solutions when creating a new company file (with the same lists).

 

Meanwhile, you might also want to export reports to Excel and save it on your computer. These reports will serve as proof of income of your business for tax filing purposes. I'd suggest consulting your accountant to see what specific reports you need to export.

 

If you need anything, feel free to let us know.

hemang
Level 1

Create a new company file from the existing company file?

How can it be possible on Quickbooks intuit.

 

RenjolynC
QuickBooks Team

Create a new company file from the existing company file?

Hi there, hemang.

 

If you're using the Desktop version of QuickBooks, you can follow the steps provided by RCV. For QuickBooks Online, JamesDuanT's steps can help you set up the new company and import the lists. 

 

For any additional concerns about QuickBooks set up, feel free to reach out to us. Thanks.

santisusbielles
Level 1

Create a new company file from the existing company file?

Hi! How are you? I hope you are well and can help me with this situation. 

 

I need to create a qbd (MAC) from scratch but the company is already going. Bookeeping is a mess and I need to start over.

 

Is there any way to export (and import) transactions from a particular date? I Will start from 1/1/19 based on 2018 tax file. Or do you recommend copying the file and deleting transactions before 12.31.18? 

 

Thanks? 

SophiaAnnL
Moderator

Create a new company file from the existing company file?

I'm doing fine today, santisusbielles. I'll help you get your file sorted out.

 

Exporting transactions from one QuickBooks file to another for a particular date is not available. But I would recommend the second suggestion you mentioned which is to copy the file and delete the transactions manually. This way, you can keep those that you need in your company file.

 

To learn more about managing your file in the Mac version, you can refer to the user's guide official eBook. From the PDF file, press CTRL + F on your keyboard and type import so you'll be routed to the import section where you can get the steps.

 

Don't hesitate to leave reply if you have more questions. Thanks.

santisusbielles
Level 1

Create a new company file from the existing company file?

Thanks!!! Maybe you can help me with further information..

 

In case I delete previous transactions, how can I keep those still opened and thus keep the open balance for each customar (the same for bills).

 

Thanks!

 

 

BettyJaneB
QuickBooks Team

Create a new company file from the existing company file?

Hi there, @santisusbielles.

 

You've got me here to provide some clarifications about deleting your previous transactions in QuickBooks Desktop.

 

If you wish to keep those open bills and invoices from the previous year's transactions, deleting your past data is not advisable. This is to avoid messing up your customers' balances.

 

The best thing to do is to create a new company file and import the data that you need. Doing this will help you to have intact records of your customers transactions including their open balance. 

 

Before doing so, I'd suggest creating a backup copy of your company file so you can easily restore it in case of data loss. 

 

If you need further assistance with this process, feel free to get in touch with our Customer Care Team. They have the ability to do run a remote viewing session and walk you through the procedure.

 

To do that:

  1. Go to https://help.quickbooks.intuit.com/en_US/contact
  2. Select your product.
  3. Select your QuickBooks version.
  4. Select a topic.
  5. Click on the Get Phone Number button.

I'm just a reply away if you have any other questions about this concern. I want to ensure you're all set. Have a nice day!

AdrianG001
Level 4

Create a new company file from the existing company file?

You can create a new company file by copying an existing one, an using the Condense Data utility to remove all transactions. The copy will keep your accounts, lists (customers, vendors, items, etc.), templates, and preferences from the original company.

 

Below are the steps on how to copy an existing Hosted QuickBooks Desktop company file:

 

  1. Back up your QuickBooks company file.
  2. Restore your backup company file. Save the backup to a folder where you want to keep your new company file. And then rename the file. (Note: This creates a copy of the original company file, with a different name.)
  3. Review the new company file.

**Remove all transactions from a copied company file**

 

QuickBooks won't be able to remove all transactions if you have payroll data in the current year. Learn more about this and other limitations when condensing your data.

 

You can delete transactions manually. Or create a new company file instead. After that, export your lists from the original company. Then import them into the new one. You can also export and import your form templates Although you can only do this one at a time.

 

  1. Go to File, then Utilities, then Condense Data. (If you receive a message that budget data will be removed, select Yes.)
  2. In the Condense Data window, select All Transactions.
  3. Select Next. Then follow the onscreen instructions to remove the transactions.

Regards,

Adrian

 

santisusbielles
Level 1

Create a new company file from the existing company file?

Hi Betty, 

 

In case I import the transactions I need. How can I import from a specific date? Because Balances are wrong.

 

Can I start from 01/01/19 and manually set up beginning balances? I dont really know what to do with open transactions when I start from scratch from 01/01 

Alessandra_B
QuickBooks Team

Create a new company file from the existing company file?

Thank you for getting back to us, @santisusbielles.

 

There are multiple ways to enter your customer and vendor beginning balances. Let me share them with you and help you further.

 

In QuickBooks, you're able to import your transactions. Also, you can import the beginning balances of your accounts, as well as your bills and invoices.

 

Thus, you can import your transactions from a specific date range you prefer. But you'll need to edit them when you export them from your previous company file.

 

Once done, you may follow the steps below in importing your data:

  1. Click on File from the menu bar.
  2. Choose Utilities, then Import.
  3. Select .IIF files.
  4. Locate your .IIF file.
  5. Click on Open.
  6. Select OK on the pop-up.

You may also read this article for more information: Export or Import Intuit Interchange Format (.IIF) Files.

 

Next, when entering beginning balances, are you referring to your customers and vendors?

 

If so, and your beginning balances are before your start date, you have multiple options to enter them. Here are some of them:

  • You can enter their outstanding balance in the Opening balance field with the As of date similar to your start date.
  • You can create an Opening balance item and use it on your invoices and bills.
  • You can enter individual unpaid invoices or bills instead of the total balance for each customer or vendor.

I've also attached a helpful article here for more information: Record Opening Balance.

 

Please let me know if you have any other concerns. I'll be around to help.

santisusbielles
Level 1

Create a new company file from the existing company file?

Thank you again!!!

 

In the case "create an Opening balance item and use it on your invoices and bills or Inter individual unpaid invoices or bills instead of the total balance for each customer or vendor",

 

Should I post them against Open Balance Equity? (Because if I work on Accrual Basis, posting against Income is not correct because they were accrued in 2018"

 

Thanks a lot!

LinaHarris63
Level 1

Create a new company file from the existing company file?

Hi there, my clients QBD file is so huge that I would like to archive all years including 2018 and create a new file starting 01/01/2019 with the balances included ? Is that possible?

 

Thank you for your help - it is a little scary for me but I am going to start to make a copy of the existing QBD file.

 

Kindly,

Caroline 's Bookkeeping

MaryLurleenM
Moderator

Create a new company file from the existing company file?

You can use the condense data utility, LinaHarris63.

 

QuickBooks Desktop 2019 has this feature which reduces the file size by removing the audit trail. This will optimize the performance while using QBDT.

 

This process is not reversible. Make sure to review first this article to know more about the process: Use the Condense Data utility.

 

Once you've decided to push through with the process, you can follow these steps below:

  1. Click File on the menu.
  2. Select Utilities, then click Condense Data.
  3. Select the first option. The system will provide you the approximate reduction of your file,.
  4. Select Next.

The prompt Working on your file will appear. Once completed, a window opens advising you of the total reduction in your file size as well as the location of the backup prior to the file optimization. You can review the article provided above on what to do after the process.

 

Please know that I'm here to help you more if you need it. You can post a reply if you have additional questions.

-clear-
Level 1

Create a new company file from the existing company file?

I'm in the exact situation now as you were (I see this was a year ago). If you get this do you mind sharing what you ended up doing?

Emily M
QuickBooks Team

Create a new company file from the existing company file?

Thanks for joining in on the thread, @-clear-.

 

I’m glad to further assist you with creating a new file from your existing company file. Before you start a new company file, you’ll need to gather these reports to re-create the accounts receivable and accounts payable year-end balances in the new company file. You’ll need to create the opening balances for all the balance sheet accounts and to manually enter inventory value, stock status, and outstand banking transactions.

 

Customer Balance Detail report

  1. Select the Reports menu.
  2. Find the Customer & Receivables and then choose Customer Balance Detail.

Vendor Balance Detail report

  1. Go to the Reports menu.
  2. Click Vendors & Payables and then pick Vendor Balance Detail.

Standard Balance Sheet

  1. Locate the Reports menu.
  2. Choose Company & Financial and then go to the Balance Sheet Standard.

 

Once done, you’ll want to start a new company file.

 

  1. Go to the File menu, choose Utilities, then Clean Up Company Data
  2. Make General Journal Entries from the QuickBooks Company menu.
  3. Rebuild the outstanding balances in accounts receivable by either creating balance forward invoices for a lump sum customer balance or re-creating individual invoices.
  4. Recreate vendor balances from the Vendors menu with the Enter Bills option, charging these bills directly to the Uncategorized Expense account, as opposed to individual expense accounts.
  5. Choose File, then New Company.
  6. From the Easy Step Interview window, click Start Interview.
  7. Follow the on-screen instructions to enter the information for your new company file.

 

 

If your company file is too big, you may also condense the data.

 

This link has more information about creating new company files:

 

https://quickbooks.intuit.com/learn-support/en-us/account-management/re-great-to-hear-from-you-lap20...

 

If you have other questions, let me know.

YFC
Level 1

Create a new company file from the existing company file?

Hello. I have followed your instruction as posted. the last step: check your accounts. there shouldn't be any transaction on the list. if there are, edit and delete them .

All my transactions were still there. Everything. full  years of transaction. anyway to solve it or i need to go one by one and delete? it is thousands of entries...

Ethel_A
QuickBooks Team

Create a new company file from the existing company file?

Welcome to the Community, @YFC. Allow me to share additional information about deleting transactions after exporting and importing transactions from the old company file to the new one in QuickBooks Desktop.

 

I appreciate you following the steps provided by my colleagues above. Since you can still see the transactions and you want to delete them, you can delete them manually and one by one.

 

Here's how:

 

  1. Go to Lists from the top menu bar.
  2. Choose Chart of Accounts.
  3. Select the appropriate bank account.
  4. Locate each transaction, then right-click.
  5. Click Delete.
  6. Press OK in the confirmation window.

 

You can also check this article for the steps to delete transactions in QuickBooks Online: Void or delete transactions in QuickBooks Online.

 

I'd recommend making a backup copy of your company file first so you can restore it in the event of data loss.

 

If you need anything else about deleting transactions, you can comment below. I'm always here to help.

Fiat Lux - ASIA
Level 15

Create a new company file from the existing company file?

@YFC 

Which QB Desktop year version do you have?

YFC
Level 1

Create a new company file from the existing company file?

I am using desktop pro 2021. when i realized i had to delete the transactions one by one i used the other method mentioned- i exported the files to my new company.It worked. 

all of this because i did a mistake in my reconciliation and everything got messy.

i wish i could explain so you guys can help me but i am not sure what i did wrong . thank you so much for trying though

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