In this two-part series, we examined the enhanced condense utility feature within 2023 QuickBooks for Mac. Part 1 delved into the first two condense options: "Removing the audit trail to date" and "Removal of (all) transactions while keeping lists and preferences" with the various sub-options that it offers.
In Part 2, we will look at the third option: "Remove transactions dated: Prior to (a specific date) or Between (specific dates)."
Remove Transactions Dated: Prior to (a Specific Date) or Between (Specific Dates)
The functionality that QuickBooks for Mac 2023 offers now is essentially the same in terms of options as that which QuickBooks Desktop Accountant and Enterprise have had available for the last few years.
This includes the ability to produce what many people refer to as either "going forward" (removing transition prior to a specific date) or a "period copy" (between specific dates) of your QuickBooks for Mac data.
As with the other two condense options, the removal process begins by selecting the Condense Data option from the Utilities menu under the File menu option of QuickBooks for Mac 2023 (shown below).
Graphic developed from Intuit QuickBooks website content.
Remove Transactions Dated: Prior to (a Specific Date)
To select the option that allows you to produce a "going forward" option from a particular date in time, choose the option to Remove transactions dated: Before and specify the date you wish to start with as your going forward date. Typically, this would be either the first day of a fiscal or calendar year.
Graphic developed from Intuit QuickBooks website content.
You can determine the transactions you want to remove as part of this process and those you do not want removed. For example, if you have transactions that have not yet been printed or sent or are pending, you may not want those transactions removed. Likewise, you might not want bank or credit card transactions that have not been marked cleared removed either.
Graphic developed from Intuit QuickBooks website content.
Because you are removing transactions, you have the same options available as I described in Part 1 on how prior transactions being removed (under option 2) can be summarized:
- One single journal entry summary
- A summary journal entry summary for each month being removed
- No summary journal entries at all, just data removal
Graphic developed from Intuit QuickBooks website content.
Since I wrote about each of these options in Part 1, I will not spend time reiterating what I covered there.
The next area of inquiry deals with inventory. This should be a significant consideration if you manage inventory using QuickBooks for Mac. Again, there are two options here.
The first is a summary option, which removes all condensable inventory transactions and replaces those with inventory adjustment(s). While Intuit recommends this option because it provides the most significant degree of condensation of your file, it may not offer the most accuracy of your inventory. And it certainly will not provide you with the ability to look back at inventory history.
The second option keeps your inventory transaction details. In other words, most of your inventory-related transactions will be retained in your QuickBooks data file, thus limiting the amount of data that can be removed during the condense process.
However, this significantly improves the accuracy of your inventory record and does provide a look back at your inventory history for the most part.
Graphic developed from Intuit QuickBooks website content.
Another option involves any list entries you might want to remove. Because some of your lists will contain entries that might not be used after removing the transactions you have selected, QuickBooks can remove the unused list entries for you.
Graphic developed from Intuit QuickBooks website content.
After all of these decisions, you now are ready to begin the condensing process.
Graphic developed from Intuit QuickBooks website content.
Don't worry; your current file is safe. QuickBooks for Mac 2023 archives a copy of your current file before the actual condensing process starts.
Graphic developed from Intuit QuickBooks website content.
Remove Transactions Dated: Between (Specific Dates)
To select the option that allows you to produce a "period copy" option between two particular dates in time, choose the option to Remove transactions dated: Before (specify the date) and After (specify the date) to obtain the time frame for your period copy.
This is the copy you might need to produce for some specific financial audit or legal compliance request. It provides a snapshot of your company during a particular period.
Graphic developed from Intuit QuickBooks website content.
With this condense method, you have the same options available regarding transactions to be removed, how they are to be summarized, and what lists you want unused names removed from (as I have just described above).
You really have to think about what the requirements are for the period copy you are producing, what you must produce or provide and what the objectives are in meeting the request for the copy.
If, for example, all you are doing is producing a copy of the actual transactions entered during the specific dates, you really just want to remove all transactions without any summary transactions for all dates prior to your starting period and all dates after your ending period. You also want to remove all unnecessary list names.
This will give you a file that is only related information for the period itself with absolutely nothing before and nothing after, if that is what you intend to accomplish.
After the Condense is Finished
Regardless of the method you choose to condense your data; you will be provided with a synopsis of the results similar to the one shown below. This synopsis gives you information about your new file, including the name, size and percentage the file was condensed by, along with the current location of your file.
In addition, the synopsis shows your old file backup name, size and location.
Graphic developed from Intuit QuickBooks website content.
If any transactions were selected for removal that could not be removed, they will be available to you via the synopsis and shown on a report similar to the one below.
Graphic developed from Intuit QuickBooks website content.
Murph's Word to the Wise
Always Verify and, if necessary, Rebuild or otherwise repair your Company file before starting any Condense process. You will find both the Verify and Rebuild utilities within the Utilities menu under the File menu option of QuickBooks for Mac 2023, as seen in the first illustration within this article.
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