Every now and then, out of sheer necessity, accounting software users have to compress or condense their company files. The question is, do their accounting applications provide the facility to do so within the application suite? In QuickBooks’ case, users can avail of the QuickBooks Condense Data Utility is a fantastic thing. Stick to the entire article to know some ideas.
Who is QuickBooks?
QuickBooks, if one may ask in a short intro, is one of the top accounting software in the USA that allows users to do bookkeeping, inventory, bank reconciliation, payroll, taxation, etc. in one software. It is most popular among low to mid-ranked businesses. The software has a “company file” that contains all of the business activities like transactions that QuickBooks stores. It becomes more and more difficult to load the file, particularly over a network setup, as it grows in size.
QuickBooks Condense Data Utility
When users will want to condense, this procedure permits you to reduce the size of files without removing any details or causing damage, and it does so with a low risk of damaging the data. Simply put, QuickBooks Condense Data Utility reduces the size of your files by removing all audit trails. It reduces the file size without affecting their content and frees up storage space. The system’s overall performance is enhanced as a result. Compared to the standard file condensing feature, this method is significantly faster. This way, QuickBooks archives and condenses data.
Utilization of Condense Data Utility
Condense Data Utility will remove the file size by up to 40%. Use this for the following scenarios. When you have a file that is very big when you are getting close to the list limit, and when your hardware has just been upgraded. This facility is way different than traditional condense facilities. If you want to transfer the Company File from QB Desktop to QB Online, you will need this tool. Another reason is if your inventory list is getting close to its limit. Lastly, this tool is necessary if your system’s entire hardware has been upgraded.
How to proceed to condense?
In QuickBooks, follow the steps below:
- Launch QuickBooks.
- You must first access the File
- Select Utilities
- Condense Data will now appear in a window, which you can choose to open.
- You must now select the first choice. The system will inform you of the approximate file size reduction.
- You must now select the Next
- The phrase working on your file now will now appear on your system screen. It indicates that the procedure has begun.
- Your system will open a window displaying the total size reduction of your file post its completion. Plus, it will inform you of the backup’s location prior to optimizing the file.
What to consider before condensing?
Before you use QB Condense Data Tool, what happens when you condense data in QuickBooks is that the condensing process is irreversible, it may not fix your file damage. It does not remove some transactions (like invoices, payments, credit memos, refund cheques, and payments recorded to Undeposited Funds).
If you are unable to condense…!
If in any way unable to condense the company file, the reasons are, corrupted or damaged company file, or the QuickBooks log file is damaged or corrupted, not enough storage is available for QuickBooks to condense data utility, opening a company file in another computer network.
Drawbacks of Condensing Data
There is a limit to how far data condensing will be executed. Firstly, payroll transactions will not be removed if the condense date falls into the previous year. Secondly, in case the employee’s W-2 is not reviewed, payroll transactions will not be removed. Thirdly, any invoices, payments, credit memos, and Refund Checks that are incorrectly linked to one another. Fourth, payment records of Undeposited Funds. Fifth, bill payments, bills, and bill credits are incorrectly linked to one another. Lastly, estimates that are linked to invoices and if the sales tax is not paid in the “Pay sales tax” dialogue box.
Some steps to take before the condensing starts
As we have discussed, what condensing looks like a post to its execution, there are things users should do before doing that:
- Update QuickBooks to the latest release.
- Make sure there is storage space available at least of 10GB.
- Create a duplicate of the file, and store it in a different system.
- Always back up the company file.
What to do if error sprouts
During condensing data files, if any error sprouts, then it is better to contact the official website. As the solution to this is a little bit tricky. The errors are in these types “Transaction held because this transaction has not been paid”, “Transaction held because the funds are not yet deposited” and “Transaction held because this transaction is ‘Linked’ to the above outer-level transaction.” Try doing the following if it’s too urgent:
- Run QuickBooks File Doctor Tool to repair company file damage
- Fix Negative Entries in the QuickBooks company file
- Rename QBWIN.LOG File
- Start Windows in Safe Mode
- Use a QuickBooks File Repair Tool
- Copy the QBW file to the local drive and then compress it if it is on another PC
Note: Not every accounting application comes with a user manual. Updates are necessary for software to enhance productivity and Key Posting is the best place to follow these updates and stay connected. For more insights into accounting and financial applications used widely by small and medium businesses kindly follow Key Posting.
QuickBooks Enterprise 2020 Condense Data
This is a more updated version of to condense data tool that has the option to remove the audit trail which reduces the file size but leaves all the detailed transactions. This is also considered a faster method compared to the traditional one.
How long does it take to condense?
A usual condensing of a company file using the QB Condense Data Utility Tool needs less than an hour. It largely depends on the capacity, speed, and size of your computer, as well as the targeted company file.
Some QuickBooks Data Condense Utility Errors
Once in a while, users might face some errors that will halt the QB Data Condense Utility, they are:
- Unable to run QuickBooks. Clean Up Company Data Utility
- QuickBooks Condense Freezes
- Transaction held because this transaction has not been paid
- Transaction held because the funds are not yet deposited
- Transaction held because this transaction is ‘Linked’ to the above outer-level transaction.
- QuickBooks encountered a system error when trying to archive your data file. QuickBooks will not condense your data file. The Error is- An unspecified error (error 80004005). Please try the operation again.
The Reasons for the Condense Errors
QB Condense Utility faces errors because of the following reasons. They might cause errors singularly or maybe as a group. Here are they:
- QuickBooks includes a damaged or corrupted company file.
- Or there is damage or corruption in the QuickBooks log file.
- The error occurs if you want to reduce the size of your data.
- QuickBooks’s utility for condensing data lacks sufficient storage.
- Using a different computer network to open a company file.
Final Words
In the final analysis, we can say that QB Condense Data Utility Tool is a little bit tricky process. Users need to have other options before they attempt anything with this. What we should measure we have explicated. We hope that you found this article to be informative!
Summary:
This article summarizes how to proceed with the QuickBooks Condense Data Utility and what to consider before we do that. There is some valuable info.
