Quickbooks Period Copy

QuickBooks Period Copy

When your company file becomes too large to manage and QuickBooks begins to slow down due to the large size of your database, condense your transaction data. The Condense Data utility provides options to remove outdated transaction data, delete all transactions or create a period copy. A period copy provides a way to send only requested information in the event of an audit, or request by a client or financial institution. You can only create a period copy if you own the QuickBooks Accountant edition.

The “Period Copy” in QuickBooks Premier Accountant Edition and QuickBooks Enterprise Solutions allows you to share data for a specific time period with others, such as banks, investors or the Internal Revenue Service. Until this new feature, businesses had to hand over a copy of the entire QuickBooks file to interested parties. Not a first choice for many business owners. The Period Copy now makes it possible to drill down into your file and choose a specific time period to share.

The Period Copy is part of the Condense Data Feature, which is accessed from the File Menu under Utilities. As with any Condense Data activity, budget information may be removed during this process. For the purposes of the Period Copy this is not typically a concern. To create the Period Copy, select the transaction dates for the period you want to keep in the Condense Data window.

E-Tech offers a service to create a period copy of your data file with a specific date range. This can be used for CRA file submission or other purposes such as selling a business, creating a new business company file, divorce situations, legal disputes, etc. Only transactions in the date range requested will be in the period copy; all other transactions will be removed. The Audit Trail will also be removed and as a result, the reviewer of the QuickBooks Period copy of the data file will not be able to see transaction entry or modification dates.

 

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