Condensing your QuickBooks file can be a money-saving solution

This happens all too often.

A QuickBooks ProAdvisor, accounting firm, or QuickBooks user calls for help with a QuickBooks file that is too big, too slow, or corrupted.

They’ve heard that Peak Advisers can help.  It’s true. We can and we have.

Our Approach

The first thing we do is press F2 (see here for what the F2 key on your keyboard does). F2 gives us a peek at the size, version, fragmentation and results of the last rebuild.

If the problem is corruption, we discuss the last rebuild with the client and will run a new rebuild using a copy of the production file. In some instances, we’ve run the rebuild as many as 11 times to clear errors. On the other hand, there are times when rebuilds simply do not clear the errors.

If the corruption doesn’t clear up, the client can choose to continue running the corrupted file until it fails (not recommended). The client can create a new file, or work with Peak Advisers.

If the problem is the result of a too large file (a gigabyte is approaching too large), then we need to discuss options to resolve the issue.

Others will tell you that 500 MB is too large. But, it really depends on the features used, the number of users, and the type of transactions before we can determine if a file is too large. 

 Binary and magnifying glass graphic

QuickBooks includes a condense feature. But, in our opinion, that, too, can be problematic.

Some recommend never using the condense feature. At Peak Advisers, we’ve had good results with it in certain circumstances. Examples being, no corruption, not too large, and not too many years of financial information.

In the right circumstances, we like trying the condense feature. Sometimes it works and sometimes it doesn’t.

Condensing is the most cost effective way to reduce the size of a too large QuickBooks file. If condensing doesn’t work, or if it doesn’t reduce the size of the file enough, the only option is to create a new file.

Creating a new file is not cheap. It takes a lot of planning, computer resources and the knowledge and experience Peak Advisers has developed. When discussing the creation of a new file with a client we present it this way:

  • The fastest, easiest and least expensive way to create a new file is—excluding open accounts receivable invoices, vendor bills and inventory—to import past information as a journal entry. 
  • The most expensive, slowest and hardest way to create a new file is to import all transaction data, e.g. bills, bill payments, invoices, payment receipts, and deposits, etc. By all transaction data, we mean all the transaction data for the periods in which you want to have financial information in QuickBooks.

For example, a client may have 10 years of financial data and wants that data moved from the old file to the new file in this format:      

  • Three years of all financial transactions.
  • Seven years of financial information as summary journal entries.

This would be a relatively expensive project and not the structure Peak Advisers recommends. 

What we do recommend however, and one that is less expensive, is:

  • No more than the current year transactional data.
  • Two years of monthly summary journal entries.
  • Seven years of annual summary journal Entries.

Of course, every situation and business need is different. But Peak Advisers will always deliver what the client wants. However, we will always desire to reduce the client’s costs.

Our most significant recommendation is this: Work with a firm that has done it—a firm like Peak Advisers.

Call Peak Advisers today and we’ll help you join the 1.2 million small businesses who rely on QuickBooks.

If you feel like your business is managing you—instead of the other way around—and your books are a nightmare, contact Peak Advisers today for a free consultation. We can help you with a full-range of value-added business and financial solutions. 

Peak Advisers is Denver’s leading advanced certified QuickBooks re-sellers and consultants. We make QuickBooks work for you and your small business. All purchases include free training. Call us today at: 303-801-4772; or email: info@peakadvisers.com