To create a new company file, this can be done in 4 easy steps. Here's how to do it:
Open your QuickBooks Desktop program.
In the No Company Open Company screen, select Create a new company.
Choose the setup option you would like (i.e. Express Start or Detailed Start).
Follow the instructions to finish the setup. It'll be best not to use an existing company file name for this new file, so the systems don't override it.
Once finished, you will have your new company file. For more information on getting started, check out our guide on the matter at the link here.
If you're wanting to condense the current company file to remove 2019-2020 information, this can be done as well.However, there are some limitations when it comes to this process. This link is a great tool to see the procedures and details of what happens. Keep me posted and enjoy the rest of your day.