How to Archive QuickBooks Data – Desktop and Online

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Do you want to archive QuickBooks data for the past several years? Transactions and other data accumulate over the year and add to the size of the company file. Yet, it is obvious you can’t delete precious company data for various business purposes such as reporting, referring, audit, etc. Therefore, archiving the data in a secure location from where you can access it later is the only option.

We are here to guide you on how to archive QuickBooks data. We will explore different ways to archive data in QuickBooks Desktop and QuickBooks Online. Moreover, we will also help you address some issues in archiving QuickBooks data if you face any.

The guide will address most of your queries related to archiving QuickBooks data. Yet, an expert’s assistance can be faster and more reliable. Dial 1(800) 580-5375 and get real-time assistance from a QB ProAdvisor on your matter.

QuickBooks Desktop or QuickBooks Online?

The methods to archive data are different in both QuickBooks Desktop and QuickBooks Online. Therefore, there are separate sections for QuickBooks Desktop and QuickBooks Online in this guide. Navigate to the section that best fits your product description.

How to Archive QuickBooks Data in Desktop Application

In QuickBooks Desktop, you will find no option to archive data in its menus. However, QuickBooks does offer some ways to archive data.

• Condense company file
• Create a new company file from the existing company file.

1.     Condense Data

You have the option to condense your data so that all the closed transactions get saved as journal entries. Over time, company files get larger in size, and that affects the performance. Condensing company data helps you reduce the size and increase the performance, but not always.

When you run the condense data tool on the company file, it creates an archive copy of the company file and removes and summarizes the old transactions.

Here are some instances when you might need to condense the company file:

• Your data file is large.
• Your lists are nearing the allowed limit.
• You’ve upgraded the hardware.

Is Condensing Data Right for You?

However, before you condense the company file, there are some crucial things you must know.

• The condensing company file isn’t reversible, and thus, there is no going back once you carry condensing.
• Condensing data files might remove the audit trail if you remove the transactions. Therefore, you should either keep an uncondensed copy of the company file or create a backup.
• Condensing might or may not reduce the size of the company file. While it is expected to reduce the size as it removes the closed transaction details and list entries. However, condensing doesn’t always reduce the size of the company file.
• Condensing the file may not fix the damage in the file or improve its performance.
• Here are certain transactions condensing doesn’t remove:
  • Payments recorded to Undeposited Funds
  • Estimates linked to invoices
  • Invoices, payments, credit memos, and refund checks
  • Sales tax not paid in Pay Sales Tax
  • Bills, bill credits, and bill payment checks
  • Transactions linked to a non-condensable transaction
  • Payroll transactions
• Moreover, running the condense data utility on a company file impacts numerous reports, such as:
  • Account and item-based reports
  • Cash Basis reports
  • Reports filtered by class
  • Sales Tax Liability reports
  • Sales and Purchase Detail reports
  • A/R Collections reports
  • Audit Trail reports
  • Reconciliation

Before You Condense QuickBooks Data – Important

Before you condense the data, there are two essential things you must do:

• Reconcile all accounts. Print all reconciliation and discrepancy reports or save them in PDF format.
• Create a backup of your company file.

Condense QuickBooks Data

Once you are ready, follow these steps to condense company data to archive it. There are two ways you can do this

• Condense data and keep all transactions
• Condense data and remove certain transactions

Condense data while keeping all transactions

• Tap on File, then choose Utilities.
• Click on Condense Data.
• Tap Keep all transactions, but remove audit trail info to date.
• Choose Next.
• Let the condensation process run.
• Once done, tap on Close.

Condense data by removing selected transactions

• Tap on File, then choose Utilities.
• Click on Condense Data.
• Tap on Remove the transactions you select from your company file.
• Choose Next.
• Choose the transactions you wish to remove. Tap on Next.
• Pick how transactions will be summarized. Tap on Next.
• Pick how inventory should be condensed. Tap on Next.
• Choose the recommended transactions you want to remove. Tap on Next.
• Choose the List entries you want to remove. Tap on Next.
• Let the condensation process run.
• Once done, tap on Close.

This will help you to archive QuickBooks company data by condensing it.

2.     Create a New Company File from the Existing One

There is another way you can archive QuickBooks data in the application. You may create a new company file for your fiscal from the existing company file. This way, you will not have to start over, as the lists and Chart of Accounts will remain the same. However, the balances and the old transactions will not be passed on.

Here is how you can create a new company file from an existing company file:

• Tap on File.
• Choose New Company from Existing Company File option.
• Follow the instructions on the screen you see.
• Choose Create Company.

Now, export the data to it for the new fiscal year.

Unable to View Transactions from Archived Data

You might have archived QuickBooks data and later discovered that you were unable to view any details about the transactions from that period.

If this is the case, let us see how you can retrieve the details. If you can’t see some transactions after archiving QuickBooks data, you can restore the backup you created for the older company file. Learn how to restore a QuickBooks backup company.

How to Archive QuickBooks Data in Online Version (QBO)

Let us see how to archive QuickBooks data in QuickBooks Online. You might want to archive your data and save it if you are discontinuing QBO or your subscription is about to expire.

To do this, you will need to export your data to Excel. Let us see how to archive these by exporting them to Excel:

• Reports and Lists
• Estimates
• Purchase Orders
• Customer Statements
• Attachments
• Recurring Templates
• Chart of Accounts
• Products and Services

Archive Reports and Lists

You may export the reports and lists into individual Excel files contained in a zip file in a single process. This will contain invoices, receipts, bills, balances, and so on.

Here’s how:

• Tap on Settings.
• Choose Export data.
• Choose the date range on the Reports tab.
• Toggle the switch on or off to add or remove items to Reports and Lists.
• Choose Export to Excel.

Export Non-Posting Transactions and Attachments

When you export reports, it will only include invoices, receipts, bills, balances, etc. It will not include non-posting transactions and attachments. Therefore, you will need to export non posting transactions and attachments separately to archive them.

These include:

• Estimates
• Purchase Orders
• Customer Statements
• Attachments
• Recurring Templates
• Chart of Accounts
• Products and Services

Estimates

• Tap on Sales, then choose All Sales.
• Click on the Type dropdown. Tap on Estimates.
• Click on the Date dropdown.
• Choose the date range you want to select transactions for.
• You may apply other filters as required.
• Click on the Export to Excel icon.

Purchase Orders

• Tap on Expenses, then choose Expenses.
• Click on the Filter dropdown.
• Click on the Type dropdown. Tap on Purchase Order.
• Choose the date range you want to select transactions for.
• You may apply other filters as required.
• Click on the Export to Excel icon.

Customer Statements

• Tap on Sales, then choose Customers.
• Now, select the customers whose statements you want to export.
• Click on the Statements tab, and choose the statement that you wish to export.
• Click on Print or Preview.

Note:  If you face trouble finding the statement, you may modify the date range. To do that, click on the Date dropdown.

• Click on the Download icon. Choose the folder where you wish to save the file.
• Finally, tap on Save.

Attachments

• Tap on Settings.
• Choose Attachments.
• Now, pick the attachments you wish to export.
• Click on Batch actions.
• Select Export.

The attachments will be exported in a zip file.

Recurring Templates

• Click on Reports
• Find the Recurring Template List report. Open it.
• Click on the Export icon.
• Choose Export to Excel.

Chart of Accounts

• Click on Reports
• Find the Account List report. Open it.
• Click on the Export icon.
• Choose Export to Excel.

Products and Services

• Tap on Settings.
• Choose Products & services.
• Click on the More dropdown arrow.
• Choose Run report.
• Click on the Export icon.
• Choose Export to Excel.

This will help you archive QuickBooks Online data and save it on your hard drive.

Need an Expert’s Assistance?

The above blog will walk you through the detailed steps to archive QuickBooks data in both the desktop application and the Online version. However, if you face a problem or have a query, you can reach out to a QB ProAdvisor.

The QB ProAdvisor will help you resolve the issues you face in no time. Dial 1800-580-5375 now!

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