When it comes to the best accounting solution in the market then the first name which comes to anyone’s mind is QuickBooks. In the current era, the amazing QuickBooks accounting solution is one of the most used and preferred accounting solutions by both professionals and newbie.
On one side, the professionals love this amazing accounting solution because of the advanced accounting features which keep on updating while on the other side, the novices love this accounting software because of the ease of use. In the US, alone, the amazing QB accounting software has more than 85% market share and it is continuously growing in other countries as well.
One of the best things about QuickBooks is that it keeps getting updated which makes it much better than it previous form. Every year, there is a new version of QuickBooks launched during the month of September and currently, people are using the latest version of QB which is the most powerful accounting software version. One such improvement which was made in the latest version of QB 2019 is the ability to reduce the file size and it will come in handy for every user as this feature was in demand from a very long time.
Where to reduce the file size?
You can find the new feature of reducing file size through File>Utilities> Condense Data. After clicking on the last option, a new window will appear and it will give you two options of reduction. The first option will be ‘keep all transactions, but remove audit trail info to date and the second option will be ‘remove the transactions you select from your company file’. You should know that when you will click on the Next button located at the bottom of the new window, QB will directly move you to the condense process without any screen information.
It is very necessary to make backup of your files before starting the condense. By having a backup you will be prepared for just in case situation. The backup will act as a plan B for you and it will also help you to look into the details of the condensed file. If you want to create one time backup of your file then you need to click on File>Backup Company>Create Local Backup. This will act as another backup file for your in addition to what your system or network already has.
What does audit trail mean?
The first option of file reduction asks you to keep all transaction, but remove audit trail’ and that’s where people get confused if they don’t know about audit trail. You should know that your QB accounting software holds an audit trail which is basically a set of digital fingerprints with every transaction that you enter in the software. But purchase orders and sales orders don’t post transaction and not even the entries made in customer, vendor or item list.
With the advancement of time, the audit trail can become very large and soon it will start affecting the performance of QuickBooks. If you want to see the audit trial report then you need to click on Reports>Accountant and Taxes?>Audit Trial Report.
So, if you want to reduce the file size in QuickBooks then you should go through the steps mentioned in this blog post, but you should never go for file reduction without making a backup as it can turn into a disaster. If you are not sure about using this new feature, then you should consult the QB experts first and then move forward with this new feature.