Quickbooks Desktop :- Using Condensed Data Utility
QuickBooks Condense Data
Condensed data utility is a feature that is available on QuickBooks Desktop to get rid of list elements that are not needed by QuickBooks and are unused elements and it also Streamlines the company data file that is being used by QuickBooks into journal entries. Your account is affected by these changes in a same way that are affected by detailed transactions. To know more about condensing the the data go through this article carefully in order to understand better the process, limitations and method of doing it .
Important Note : If you are facing issues about the performance then this option of condensed data utility may surely help you .
Knowing About Data Condensing
- The Changes that are made will not be reversed.
Condensing can surely help you but before proceeding for condensing your data make sure that it is the best option for you and there is no other option that could help as changes make by condensing the data cannot be reversed and will remain there.
Here are the reasons why you should use condense utility:-
- Your data file is very large
- List limit being reached
- Hardware Upgrade
- Concerned by support (QuickBooks Support | Call 1800-470-6903)
- Effect on the size of company file is not necessary it may or may not.
- Mostly condensing affect the size of file as it removes the unused list entries and transaction details.
- If Inventory items are being used then it won’t affect the size much as it won’t remove too much of the items.
- Open transactions do not get condensed and file size remains same.
- File Damages may not get fixed
If company file is being damaged then condensing may not help you and you should try data damage fix or contact QuickBooks Support or simply call at : 1800-470-6903
- Some of the particular transactions listed below are not removed
- Reports That Get Affected
This list consists of reports that get affected :-
Reports that are based on Item and account
Entries on accounts do not get affected
- Profit and Loss (accrual)
- Balance sheet (accrual)
- Statement of cash flow (accrual)
- Trial Balance (accrual)
Item based reports will be removed
- Sales and purchase reports
- Job costing reports
- A/R and A/P aging reports
Reports based on cash
Cash basis reports for the condensed period of time will get inaccurate due to that not being linked as Cash out to expenses or cash in to income.
Reports that are filtered by means of class
Transactions that are being summarized by the utility are not assigned to class . Every profit & loss running by class report will be showing every amount in unclassified columns.
Sales Tax Liability reports
Sales tax invoices are no longer available. In a condensed journal entry has its amounts credited to a income account,But QuickBooks is not able to recognize which part of income is taxable and which is not.
The Purchases and sales Detailed Report
Data for these report is drawn out through items on Invoices,the items will be removed and reports will be seen blank.
The A/R Collection Report
The Reports of A/R collection will be shown under no name.The total is kept as zero because invoices in trivial file are already paid.
The A/R Aging reports are not shown on Condensed journal entries .
The Audit Trail Report
Since condensing deletes the transactions though transactions on audit report will be removes as well.
- As condensed journal entries are cleared transaction hence next reconciliation opening balance will be correct.
- Check and deposits no longer exist and reconciliation reports may go wrong
- As reconciliation may not exist statement may go wrong as well
- The data for yearly comparison reports do not have complete data
Suppose that if you running a Condense Data as of 12/31/2015 and it is now 9/30/2016. Your current company file will not be having the 2015 details and your archive copy do not have 2016 detail.
- By Exporting the current data from your QuickBooks company file.
- Open the following Archive Copy* then you may export historical data.
- You may need to Combine historical data and current data in another program.
What to do before condensing
Finding Condensable Transactions
In QuickBooks Desktop Premier and Enterprise , reports can be run in order to see logic that is being used by program to determine the transactions that are not condensed.
In order to run the report:-
- Open file menu,choose utilities and click on condensed data.
- On the first window that appears choose Transactions before a specific date and enter the correct date.
- In option which says Create a report showing which transactions cannot be removes.Just put a check mark
- Click on next and select Summarize inventory transactions.
- Choose the Inventory condensing method and hit next.
- Select transaction groups to be removed and select next
- Select option of Begin condensing
Preparing company file
- Remove the closing date off your data file
- Open Edit menu,select preferences
- Choose accounting ,open company preferences tab.
- Choose preferred date and password in closing date
- Delete the following present in closing date box.
- Press ok.
- Run profit and loss balance sheet
- Re-sort the lists present
- Run the rebuild and verify data utilities.
- Copy company file somewhere as backup
During the condensing process it is recommended that you do not run any other program as it takes system performance if done it will slow the condensing process
If the file is on server you shall save it in a computer and run the condensing process
To Run the Condensed Data Utility
- Open file menu, choose utilities and click on condensed data
- On the next window select Transactions outside of a date range
- In option of Remove transactions before and after input the correct dates.
- In the wizard select preferred options and choose help for assistance.
The Journal Entries
QuickBooks will be combining multiple transactions into journal entries dated based on last day of month.
- Go back and take out a print of these reports
- Accrual-based Profit & Loss for all dates
- Accrual-based Balance Sheet for all dates
- Statement of Cash Flows
- Get those reports compared to reports made before condensing in case any discrepancies are found you may :
- Note the transaction which are causing the difference in reports
- Restore the backup that was made
- And do any of the following:-
- Rerun the condensing after repairing the data
- Use backup data
- Get a QuickBooks Support Technician to help you by calling at: 1800-470-6903