QuickBooks has positioned itself as one of the easiest and most dynamic accounting software that is used by small and medium businesses to manage their accounting transactions. Since managing accounting expenses and bills can be a daunting task, QuickBooks offers various features and tools to simplify the journaling process.
We all can agree that businesses involve continuous and series of accounting transactions. When you create a company file in QuickBooks, it has all the information regarding the business. Sometimes the information is vast, and the company file becomes large in data size. In such situations condensing feature works as it reduces the size of the company file and ensures optimal performance in the software. This article will cover all the details of condensing a QuickBooks company file.
What is Condensing QuickBooks Company File?
Before jumping into the term super condensing, it is essential to understand the meaning of condensing in QuickBooks. In simple terms, condensing reduces the size of the QuickBooks company file to increase the performance and utility of the software. The QuickBooks condense data utility ensures that all the large company file is shrunk and an archival copy of the file is saved. With the help of QuickBooks condense data utility, you can also import your company file from desktop to the online version of QuickBooks. There are several other benefits of condensing that QuickBooks users enjoy.
How Does QuickBooks Condensing Utility Works?
The updated version of the QuickBooks condensing utility is effective and better than the former version. Previously, the company file size was reduced by removing transaction details and creating a journal entry for the data. However, the updated version allows the user to remove the audit trail and leave the transaction details, making the condensing process faster and more effective. If you are using the 2019 version of QuickBooks, the condensing process is easy to execute. Follow the steps mentioned below to condense your data file.
- Go to the File menu and click on the Utility option
- From the utility option, click on the Condense data option
- Under the condense data option, click on the option to keep all transactions but remove audit trail info to date.
- Once you click on the option, your company file will be reduced by around 40%.
- As the process finishes, a window will open that will tell the details of company file reduction along with the backup location.
Checking For Errors After You Compress QuickBooks Data File
Once your company file is compressed, it is important to check for errors and ensure that the company file contains the same information before the condensing process. Some of the reports that you should match for errors are:
- Accrual-based profit and loss
- Statement of cash flows
- Accrual-based balance sheet for all dates
- Apart from all these, you must also compare the reports to the ones that were saved before initiating the condensing process.
If there are any transactions that are creating differences, you must note them down and restore the backup of your company file.
Super Condensing Company File in QuickBooks
Now that you know what condensing means in QuickBooks, super condensing would be easier to understand. In simple terms, super condensing slashes the company file size better and larger than the traditional condensing process. With super condense, you can shrink the original file size by nearly 80%. The working of super condense in QuickBooks is hassle-free. Like QuickBooks Condense Utility, super condense does not require journaling, ensuring that condensing is done effectively.
Benefits of Super Condensing QuickBooks Company File
If you have a large company file in QuickBooks with more than 3 years of data, the performance of the file will degrade as the file size will keep increasing. To ensure the efficiency of the software, super condensing is used to reduce the file size. Some of the major benefits of super condensing QuickBooks company files are:
Super condensing QuickBooks company file ensures higher network stability
- Data corruption issues do not happen when the super condensing process is finished.
- You can convert large company files and save space for other purposes.
- Super condensing ensures faster performance and high responsiveness of the software.
- You can upgrade to newer versions of QuickBooks higher and faster.
- Super condensing improves the performance of the company file with third-party applications.
- You can run various reports effectively and efficiently without any lags.
Difference Between Condense and Super Condense
Now that we know both the terms condense and super condense, it is important to outline the major difference between both processes. While condense is the built-in utility in QuickBooks, super condense is an advanced version of the company file reduction. While the QuickBooks Condense Data Utility reduces the file size by 40%, the super condense feature can reduce the company file size by nearly 80% resulting in better performance and efficiency.
Process of Super Condensing QuickBooks Company File
The actual process of super condensing QuickBooks company files is easy. You just have to share the company file in the mail with a recognized third party, and the job will be done. The super-condensed copy of your company file will be sent to your official mail. It is advised that you must back up the contents of your file and check for errors in the super-condensed file. If there are any transaction errors, you can use the backup and rectify them without hassle.