Updating quickbooks company file
To see how your company is doing this year compared to last year: Your cash basis reports for the condense period will be inaccurate.
There are no links from Cash In to Income or from Cash Out to Expenses.
Before running the Condense, reconcile all accounts, print all reconciliation and discrepancy reports or save these reports in PDF format, and backup your Company file.
This report is available in Quick Books Desktop Premier and Quick Books Desktop Enterprise Solutions.
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 can create a journal entry for each month in the selected period.
If your post-Condense Data reports are different from your pre-Condense Data reports, then you will most likely need to restore your back up, fix damage in your company file and try the Condense Data again.
Each non-condensable transaction has a link with which you can bring the transaction to the screen.They can help you determine which option is best for you and they can help you implement the option you select.Quick Books Desktop periodically provides maintenance releases and product (software) updates to fix known issues, add features and enhancements, and update compliance information.The total below is zero because all of the invoices in this trivial file are paid.
A/R Aging reports do not show the condensed journal entries because they have a default filter of Names = All customer:jobs.
The summary journal entries affect your accounts in exactly the same way as did the detail transactions.