Know the reasons why we recommend to create a new company file to replace your old or existing QuickBooks company file.
Things to consider in creating a new company file
QuickBooks runs slowly
Performance is a valid reason for creating a new company file given that you already tried all the suggestions to improve QuickBooks' performance. However, it is not a valid reason for upgrading to a higher version of QuickBooks. If you are having performance issues in QuickBooks Premier, then you will have performance issues in QuickBooks Enterprise Solutions products.
You are approaching the Maximum number of QuickBooks Desktop list entries (list limits and custom fields). QuickBooks Desktop has limits on the number of elements in its lists. If you are approaching these limits, you will need to start a new company file.
Your current company file is beyond repair and you don't have a recent backup that you can restore. If you are experiencing repeated data damage that is resolved by the Rebuild Data utility or by repeated uploads to Data Services, then you do need to start a new company file.
Combine accounting for multiple companies into one file
Suppose you have been tracking Division #1, Division #2 and Division #3 in separate company files. For the next fiscal year, you want to track them in one company file using classes. You should create a new file, import lists from the three old files, set up the three divisions as classes and then set up your opening balances.
Stop/Start tracking inventory
Because of tax implications of changing the way you track inventory, you may want to start a new company file instead of setting up a new set of items in your current company file. You cannot change inventory items to non-inventory part items, and we strongly recommend that you do not change non-inventory part items to inventory items.