Learn how to start over with a new company file, and include accounts and lists (customers, vendors, items, etc.) from your old file in QuickBooks Desktop.
Want to create a new file but don’t want to start from scratch? Don’t worry, you can create a new company file and carry over data you still need from your existing file. We’ll show you how.
If you want to create a new file but keep all your existing data, here’s how.
Step 1: Make sure this change is right for you
There are a few reasons why you might need to create a new company file:
- Your company changed from one business type to another (sole proprietorship to partnership, partnership to corporation, etc.).
- You want to combine different company files in one main file.
- You want to change how you track inventory.
If you’re not sure, reach out to your accountant. Don't have an accountant? We can help you find one.
If you’re good to go, move on to step 2.
Step 2: Keep a copy of your account balances
If you haven’t already, save a copy of your account balances. You can use these later to enter your beginning balances.
- Make sure your books are up to date.
- Go to the Reports menu.
- 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.
- If you want, you can customize your reports to better fit your needs.
- On the report window, select the Print ▼ dropdown.
- Select Print if you want to keep a physical copy of the report.
- Select Save as PDF if you want a digital copy.
Step 3: Export your lists from the old company file
You don’t need to enter each of your lists manually. You can just export your accounts and lists from your old company file and carry it over to your new one.
Learn how you can clean up and export lists from your old company file.
Step 4: Create a new company file
When you’re ready, create a new company file.
Step 5: Import your lists and enter the beginning balances
Now that you have your new file, you can import your lists and enter your accounts’ beginning balances.
Step 6: Set up online banking, payroll, and other services
If you also use different QuickBooks features and services, you can re-set them up to help you manage your books.
- Set up your bank accounts for Bank Feeds
- Track account balances by classes using Class Tracking
- Set up Advanced Inventory for QuickBooks Desktop Enterprise
- Set up your QuickBooks Desktop Payroll subscription
- Connect your existing Payments account
- Set up Intuit Data Protect to back up your new file
When you’re done, you can now start using your new file.