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The process of exporting, trimming and then importing back may likely result in too many items that are not in balance or incomplete. It may require significant time and effort to find and correct any discrepancies. Cropping prior year transactions will give incorrect balances going forward.
QuickBooks has a utility to condense the file that will reduce the file size that is certainly more reliable; but it may or may not be enough of a change in file size if you keep seven years of detailed transactions. See http://dataservices.intuit.com/support/pages/inproducthelp/core/qb2k12/contentpackage/core/file_condense/info_condense_data_file.html for Intuit support information and links on the procedure.
See also http://support.quickbooks.intuit.com/support/articles/HOW12161
"The Condense Data utility stream lines your company data file by condensing closed transactions into summary journal entries and removing unused list elements. The utility creates a journal entry for each month in the selected period. The summary journal entries affect your accounts in exactly the same way as did the detail transactions.
The following section lists some important functions to consider before running the Condense Data Utility."
Those considerations need to be reviewed prior to using the tool to condense.
Also, it is possible to create a new company file for each new year, by performing the Clean Up Company Data or Archive & Condense Data procedure as explained at http://support.quickbooks.intuit.com/support/articles/INF12329
"Your new company file retains your lists, preferences, and service subscriptions, but no transactions. You may begin entering opening balances for Balance Sheet accounts by selecting Make General Journal Entries from the QuickBooks Company menu."
This can be used to prevent the file from continually expanding each year in the future.
The utilities will be more efficient that using Excel for cropping prior transactions.
Please ask if you need clarification or discussion.
I have a quickbooks pro advisor subscription and access to odbc drivers in enterprise 2013. Can I read the data to a access database using that driver and then select the proper data and export to excel then import the data to a new company file in premier 2011. This would involve some magic on my part and a Microsoft office wiz
You can export and trim and import but that will not make any entries for the amounts that are trimmed to be included in the balances of the accounts after the trimming. Exporting, selecting and recreating will result in balances that do not include the transactions that are removed.
The advantage of using the tool provided to condense the data is that the tool creates a journal entry that summarizes in total the removed transactions.
You can manually trim but with that method you will also have to create the journal entries to keep the balances correct.
Hope this clarifies that the transactions removed will have to be included via journal entry and that the tool can do that for you.
Let me know if you need more information.
excellent advice will use this info by aug can we leave this question open so that I can reach you easily while I do this PLEASE. I will give you and excellent review and tip when we are done
I will be doing the resizing of quickbooks soon for now I am closing the question and will ask for you again excellent answer actually I need to leave the question open Hope you Understand I will tip well but also need one thread of questions and answers for something this important thank you
You are quite welcome.
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