To figure out this issue, QuickBooks introduces the “QuickBooks Condense Repair Tool” which fixes this issue automatically and manually as well. In this blog, you get complete information and learn how to use it.
QuickBooks accounting software is the best way to manage entire business accountancy functions. QB users need to delete and edit some data files a lot of times. This happens due to the simple fact that it has lots of space to create new files. QuickBooks usually encounters with condense data error issues. This error issue creates major problems for users and blocks the user from the file condensing option.
Read this blog and you know the benefits and functions of this tool.
Table of Contents
- 1 What is QuickBooks Condense Repair Tool?
- 2 Step to use QuickBooks Condense Repair tool
- 3 Get solutions to all of your accounting and bookkeeping problems with industry leading experts
What is QuickBooks Condense Repair Tool?
The aim of this primary tool is to repair all condensed error issues with its amazing in-built features. It permits all users to remove an Audit trail. With the help of this tool, users get access to lessen the size of all files without affecting the quality of information which is present in them. It is the best option to fix all the condensed error issues and makes a way to handle all necessary company files. In any case, if you found any performance issues then Condense Data utility is the last option to improve the quality performance.
To minimize the file size without any damage to data, this tool is one of the best choices. It introduces many advanced features and also makes a consolidated Journal entry for choosing that specific data. That particular feature is known as the traditional condense feature. To get to access this feature, the user needs to perform the below steps…
- Go to the File menu
- Then choose the “Utilities” option
- From the drop-down menu, select the “Condense Data” option
- Follow on-screen instructions and choose the First option
- Proceed forward with the Next click and then “Working on the file” will pop up on your screen
- And then, it will reduce the file size and also locate the backup file location just before file optimization will pop up on your current window
Step to use QuickBooks Condense Repair tool
Here, you can learn how to use this tool to utilize its all amazing features. These steps will help to meet the requirements and perform the “Company File Condensing” function.
Step 1: Locate Non-condensable transactions
The user needs to locate all non-condensable files. To process this function, click on the Run Any Report. Then check and mark all transactions that will not be condensed.
Step 2: To run the report, the user has to condense the QuickBooks file with these steps:
- Click on the “File menu” and then choose the “Utilities” option
- Enter next click on the “Condense Data” and the “Wizard tool” option will pop up on your screen
- After that, choose the “Transaction before specific date” and fill in the accurate dates
- Hit the NEXT option and select “Summarize Inventory Transactions”
- Then need to choose the “method of condensing the inventory” option
- Select that particular “Transactions group” which you want to delete and mark on them
- Enter your next click on the “Begin Condense” option. This will help to initiate the QuickBooks Condense.
Step 3: Prepare the company file
- Begin with the “Eliminating” process to closing the date of all files
- Then select “Accounting” and click on the “Company Preference” option
- Enter the date in the “Closing date section”
- Erase “Data” from the closing data box section and click on OK
- And you can view all transactions such as the Run report of profit and loss and the balance sheet.
- After that, the “Run rebuild and verify the data utility” option takes care that there should be no damage taking place
- Then copy the company file and back it up again
Step 4: Track the record of the comparison report
Condensing the company file may cause many issues such as deletion of information, data quality, etc. To save a comparison report, make sure that you save a copy of all necessary reports as a PDF. The following reports are listed below.
- Cash Flow Statement, Balance sheet, Profit and loss
- Accounts Payable and Receivable
- And all necessary requirements by the accountant
Step 5: Condensing the company file
- First of all, running this tool
- Then open the file menu and choose the “Utilities” option
- Then locate the “Condense Data”
- Choose the respective choices as per your according
- Once the process is finished, start with the “Condensing” option
Period Copy: The period copy is considered to be a condensed version of that specific company file you selected. That file contains information for a little while. To make a period copy, just go with the below instructions.
- Go to the “File menu” first and then drop click on the “Utilities” option
- From the drop-menu options, choose the “Condensed Data”
- Hit your click on the “Transaction outside of a data range” to remove unnecessary transaction
- Set the accurate dates for “Remove transactions before and after filter”
To view the comparison between the Pre and Post Condense files, go through with the given information.
Once condensing the company file is finished, the user needs to make sure about the quality performance parameters match before and after the condensed data report.
- Go with re-run and print the given reports
- Choose the “Profit and loss” option and then enter dates to maintain the balance sheet
- After that, accrual-based conclusion reports will appear to show the results. In any case, if you found discrepancies
- Then again need to view all supposed transaction that makes differences
- Restore the backup file
- Click on “Repair damaged transactions” and then “re-run condense data”
- Users make a new company file or utilize the restored company file without preferring re-running condensed data.
The above information is enough to know about the QuickBooks Condense Repair Tool, but if any queries you want to clear or drop your all issues at this email address firstname.lastname@example.org. To get any assistance, you can chat with QuickBooks Consultant expertise through the QB LIVE CHAT link.