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sduttonusa
May 16, 2024
Question

Duplicate QB File and erase financial information

  • May 16, 2024
  • 3 replies
  • 0 views

One of the projects that was part of our Company is breaking off to establish themselves as a separate company . . . I will be using QB for the new company's finances.  I have duplicated my QB File, renamed it with the new Company's name . . . how do I delete all the financial data?  I don't want to start from scratch.  I've built various reports and have a Chart of Accounts / Class List that I want to keep.  Is there a simple way to purge all of the financial data, but leave the QB "framework" in place?  What if I take a snapshot of the Chart of Accounts, delete each entry, and then recreate it, would that erase the financial data?  (I'm wanting to get rid of all invoices, expenses, income, etc.)

3 replies

Bryan_M
Bryan_M
May 17, 2024

Good day, @sduttonusa.

 

I'll guide you on the best course of action we can take for your old company file to start the new one.

 

To retain the QuickBooks framework from the old company file, delete the transactions and profiles manually. Afterward, enter the details and info of the new company.

 

The other way around, instead of duplicating the QuickBooks File and deleting financial information, you can export the lists from the old file and import them to the new one to exclude the transactions.

 

Here's how to export via MS Excel:

 

  1. Ensure to log in as the Admin and set up on the Single-user mode.
  2. From the Edit menu, pick Preferences.
  3. Select Items & Inventory, then move to the Company Preferences section.
  4. Click the Inventory and Purchase Orders are Active checkbox, then select OK.

 

After that, set up accounts in your data file. Check out this article for more info: Import or export MS Excel files.

 

Additionally, you can read this article if you want to remove unused or inactive list entries in QuickBooks Desktop (QBDT): Condense your QuickBooks Desktop file for import to QuickBooks Online.

 

If you want to learn how to back up your accounting data in QBDT, feel free to read this article: Back up your QuickBooks Desktop company file.

 

Leave a reply below if you have additional questions about managing your new company file in QBDT. I'll be willing to lend a hand. Keep safe, and have a good one.

4
4Gal
May 17, 2024

@sduttonusa 

how do I delete all the financial data?

 

Use the Condense Data utility to remove all transactions data but CoA and Lists.

S
sduttonusaAuthor
May 17, 2024

Thanks for the quick replies.  I called QB support and asked them about how to do this . . . they told me that there was no such utility, and that I would need to erase things manually. The Condense Data Utility sounds like an easy solution.

4
4Gal
May 17, 2024

Do you have QB Desktop US version or another country version?

E
execasst
May 23, 2025

Is it possible to duplicate a company and erase financial data while maintaining that information in the original account? We need to open a parallel business with same CoA and Lists, but it will have different banking info. I tested it my de-activating an old bank acct in the new company, but it also de-activated it in the first company. 

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GlinetteC
May 23, 2025

You can create a new company file from existing ones instead of duplicating it, execasst.

 

First, make a copy of an existing company file, then condense it to remove all transactions. Additionally, you can set up a new bank account using the newly created company file.

 

Here's how to do it:

 

  1. Start QuickBooks Desktop and access the company file you wish to copy.
  2. Locate the saved file by pressing F2, which opens the Product Information window.
  3. Check the File Information section to see the storage location of your company file on the computer.
  4. Create a backup of your company file and assign a new name when restoring it. Note: This action generates a distinct version of your original company file. Save the new file in a separate folder.

 

The restored backup generates a new company file containing identical accounts, lists, templates, and preferences.

 

Visit the provided link to access a detailed, step-by-step guide: Create new company files from existing ones in QuickBooks Desktop.

 

Should you require additional help managing your data, I'd be happy to assist you through the process.

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