New company inventory

You can use the Condense Data utility as a workaround to remove ALL transactions.

Good morning, @TIM HIGDON.

How are you doing today? I hope all is well. 

You can create a new company file from the existing one. This lets you bring over all your accounts, lists, templates, and preferences. You can also bring over transactions if you want. I'm including some steps below to help get this process started. 

First, you'll need to create a copy of the company file. Here's how: 

1. Open QuickBooks Desktop and the company file you want to copy.
2. Find where you saved your file by pressing F2 to open the Product Information window.
3. In File Information, see where you save your company file on your computer.
4. Back up your company file and rename it when you restore your company file.
   Note: This creates a unique copy of your original company file.  Save the new file to a unique folder.

If you don't want to bring over your transactions, this is where you'll need to remove them. Here's how:

1. Open your new company file.
2. Go to File, Utilities and then select Condense Data. If you receive a message about removing budget data, click on Yes.
3. In the Condense Data window, select All Transactions and then Next.
4. Follow the on-screen instructions to remove transactions.

When you condense the file, QuickBooks removes your transactions. Run a Transaction List by Date report to ensure your accounts are empty.

1. Go to Reports and select Reports Center.
2. Find the Account & Taxes section and open a Transaction List by Date.
3. Adjust the date range for the report so it starts before the oldest transaction in the file you copied.
4. There shouldn't be any transactions on the list. If there are, edit and delete them.

For more information about this process, check out Create a new company file from existing one in QuickBooks Desktop. 

I also wanted to mention if you use Enterprise or Accountant, you can quickly create new company files from existing ones. Think of it as a way to create company file templates. Here's how:

1. Go to File and select New Company from Existing Company File.
2. Click on Browse and find the company file you want to copy.
3. Choose your file and then Open it.
4. Give the new company file a name and hit Create Company.
5. QuickBooks copies your preferences, sales tax items, memorized reports, and chart of accounts to the new company file. It doesn't bring over bank or credit card accounts. It doesn't copy sensitive info like Employer Identification Number (EIN) or payroll.

That should do the trick. Please don't hesitate to let me know if you have any other questions or concerns. Take care!