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How to Fix QuickBooks Error C=43 (Unable to Read Transaction)?

How to Fix QuickBooks Error C=43 (Unable to Read Transaction)?

Did you see QuickBooks Error Code C=43? Well, the QuickBooks error indicates that the software has encountered an issue when trying to access the company file. One might come across such an error in QuickBooks due to a loss of power or network connection. There can be a handful of reasons triggering such an error in QuickBooks, which we will try to elaborate on later in this segment.

Thus, to understand QuickBooks error code C=43 in a better way, stick to the article till the end, or can get in touch with our QuickBooks error support team for more details by dialing our toll-free number i.e. +1-855-771-8085.

Read Also: How to Resolve QuickBooks Error QBW32.exe?

What is QuickBooks Error C=43?

QuickBooks error C=43 shows up on the screen with the following warning messages:

Error Description
Error CodeQuickBooks error code C=43
Error Message Error reading a transaction or memorized transaction
SoftwareQuickBooks
Applies to:Windows XP, Vista, 7, 8, 10, 11

You can come across QuickBooks error C=43 in case there is any data damage or when QuickBooks tries to navigate a report or report-like data. In case restarting QuickBooks doesn’t fix the error, it indicates that this particular error might show up due to damaged data.

Why does QuickBooks error C=43 occur?

In this article, we are going to mention the description, causes, and solution of Error C=43. Possibly, the QuickBooks error C=43 appears due to one or more reasons given below.

  • When the QuickBooks data file/files are damaged.
  • If the QB software tries an attempt to navigate a report, then this error could be seen.
  • It usually appears when the form 1099 & W2 are printed.
  • Poor internet connection might also be the reason behind the occurrence of this error.
  • Windows registry files are corrupted, then this issue could be seen.
  • The firewall is blocking the internet connection or QuickBooks files to access.

See Also: How to Fix QuickBooks Online Error 101?

Steps to fix QuickBooks error C=43 (Unable to read transaction)

Follow the procedure to resolve the QuickBooks Error Code C=43 (Unable to read transaction) & to remove the corruption in the QuickBooks (QBW) file.

Solution 1: Use the QuickBooks feature “Rebuild Data”

The Intuit Inc. product QuickBooks has an In-build feature to resolve the QuickBooks error code C=43 from the QB software. The “Rebuild Data” feature is generally used when the error code appears due to the damaged QuickBooks data file/files. Rebuilding a company file is an ideal step in these situations. Perform these quick steps to Rebuild your company file.

Steps to run the Rebuild utility by following these steps:

  • Go to Utilities.
  • Click on the Rebuild data menu option
rebuild data - screenshot

Follow the actions given below to backup your data files:

  1. Leave the restoring procedure nonstop until it gets successfully complete.
  2. Once you have started the Rebuild Data utility, QuickBooks will prompt you to create a backup of your company file before proceeding to the steps.
  3. Follow these actions to backup your information:
    • First of all Click OK button to backup your data
    • After that select the online type or local type and options
    • Now select the location for your back-up files
    • Leave your computer system nonstop while QuickBooks rebuilds your company file
    • Once the QuickBooks has finished restoring your company file just click on OK button

You may also read: How to use Accounting tools in QuickBooks enterprise?

Solution 2: Verify your company file

QuickBooks includes a utility to verify a company file.

Perform these steps to check for damage.

  1. To verify your company file go to the File and then click Utilities
  2. Now click on Verify Data menu selection.
  3. File verification will proceed by its own. You need to press the ESC key on your keyboard, if you require to cancel the verification process.
verifying the data integrity - screenshot
  1. Simply click OK button to go back to the other tasks. (Under the regular situations, the verification procedure will complete as well as not find any type of problems.)
Verify success message - screenshot
  1. In case the verification process troubles with a problem, you’ll see the warning screen revealed listed below.
verify warning error - screenshot
  1. You need to click on Close button and proceed to use the Rebuild Information feature to fix this issue.

You may also read: How to Fix QuickBooks Error 6000?

Solution 3: Remove the Entire OCR-A fonts & reinstall QB software

Uninstall QuickBooks desktop

If the QB error C=43 appear when the 1099 & W2 form is printed, you suppose to eliminate/remove the entire OCR-A fonts and reinstall QuickBooks software to fix this error.

Solution 4: Result-Oriented Professional Tool

Many QuickBooks users admire using the third-party professional utility to fix this error immediately. This method is assumed as the fastest and smooth way to troubleshoot the QuickBooks error C=43.

Also See: How to become intuit QuickBooks certified?

Get Instant help

We often see many tools and service providers who claim to provide the best solution for the QuickBooks error C=43. Whether it’s related to installation, updates, integration, or data recovery. But we always need professional and certified experts to help us out as they can understand our issues because they have extensive experience in their sphere. 

We at, Host Docket, team of authentic and authorized QuickBooks professionals, work with an aim to fix and resolve all the issues related to QuickBooks. To get in touch with our team of experts and certified professionals, make call at our QuickBooks error support phone number i.e. +1-855-771-8085. Our team will provide you with a feasible solution for your accounting issues in no time.

FAQs – QuickBooks error c=43

How to fix QuickBooks error

If you get an error when you use, install, or update QuickBooks, our tool hub can help. Just run Quick Fix my program to fix common errors right away. The steps involved here are:
1. In the QuickBooks Tool Hub, select Program Problems.
2. Select Quick Fix my Program.
3. Start QuickBooks Desktop and open your data file.

How to fix QuickBooks error code H303?

The QuickBooks error code H303 can result in one or more of your workstations is set to be the server for QuickBooks. Your server (the computer that hosts your company files) should be the only computer set to host multi-user mode. The Host Multi-User Access option should be turned off on your workstations.

What is QuickBooks error code C=44?

Error Code c=44 can occur when QuickBooks attempts to access a damaged record, such as a transaction. To recover from this error, do the following: Verify your data (on the File->Utilities->Verify Data menu) If necessary, rebuild your data (on the File->Utilities->Rebuild Data menu)

 

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Don’t let Computer Crash Cost You Lost of Your Essential QuickBooks Data Files

Don’t let Computer Crash Cost You Lost of Your Essential QuickBooks Data Files

Prepare QuickBooks data files backups to Survive a Computer Crash

A computer crash occurs when a software or operating system or any other computer program stops working and exits. It’s better to be prepared for such crashes as there isn’t any complete and foolproof mechanism to prevent them. A system crash or hard drive fail is an intimidating issue for QuickBooks users too. Knowing that you lost all your data can be an irreparable loss. One computer crash and you may lose your essential documents, emails, contacts, user profile, password, bookmarks and more.

This blog post is aimed to prepare you well to cope up with such unpleasant and unwanted moments. Learn the steps to prepare QuickBooks data files backups by going through this piece of writing. With the right preparations, you can overcome even the worst conditions. Here is how you can stay ready for a computer crash. However, if you need any sort of technical assistance at any point in time, then do not hesitate in connecting our tech support professionals at +1-855-771-8085, and we will provide you with immediate assistance.

Read Also: Easy ways to resolve QuickBooks Error 1935

Steps to Create QuickBooks data files backups

Here is your step by step guide to prepare QuickBooks data files backups:

Keep Backups of Your Data Files

You must always create copies of all your essential files and store them in one or more locations to not lose them. This is the thumb rule to safeguard your backups. Virus and other malicious software affect computer data, and thus most people save data flash drive or CD. You should be aware of such unwanted items that may harm your computer or data by regularly making the backups of your company file. This step would ensure the security of your essential data.

Create Backups Periodically

You should consider creating the backups of your data and files periodically. Now if you ask how often, then there is no particular answer to it. This depends on the sort of work you perform on your computer. For instance, a writer should consider creating backups of his work once or twice in a month. It professionals can create the backup of their work every week. Business owners or curators can perform daily or weekly backups depending on the quantity of the data to be secured.

Hire IT Professional

You can hire IT professional to safeguard your vital data. They make sure that the networks your computer and other devices are connected to are safe. By making sure that your anti-virus and other safety feature are updated and working appropriately they leave almost no scope for malicious software to harm your data. Also, they make sure that your systems receive a permanent supply of power so that you don’t lose your system data if the power goes off.

You may also like: What is the Best Ways to Fix QuickBooks Error QBW32.exe?

Create and store backups like a pro

  • Many of us keep wondering that how often we should create backups for our system data and where to store them. Now, creating backups is also no easy task, and many of us may find taxing. There is one very simple answer to all such questions and doubts – create backups as often as possible. You can create keep on creating daily, weekly or monthly backups depending on the requirement of your work and dependency on your computer data. But make sure that you don’t keep postponing it.
  • Flash drives, CDs, and external hard drives are among the best tools to store the backups. You can also save your data on NAS or cloud store. External may have large space to accommodate your data, but they are not very portable. Thus you should always handle such tools with care.
  • NAS (Network Attached System) is like a system with similar costs and requirements. It needs to be configured to not be accessible directly from a system as a system drive. This is an excellent choice, but it may be very expensive.

Save time by moving your data on cloud

  • Keeping our essential data in the cloud is presently the most popular and affordable solution to keep your data from being lost. Storing your data real time in the cloud is very simple.
  • However, if you are making a backup with a cloud, you should ensure that no one else has access to it and its safe. Cloud backups are located on your network, and thus you should use it carefully.
  • This is also convenient for QuickBooks users as moving QuickBooks data to cloud is also very easy. In case you don’t have IT support and some file crashes, you can easily move the data to a cloud.
  • Cloud Save your Data – is a major feature of cloud hosting providers and it monitors and safeguards data of the users using standard security. Moving data to cloud is simple and saves you a significant amount of time.
  • We discuss here many ways to secure data and recover from a computer crash.

Also Read: How to Troubleshoot Error: Cannot Open QuickBooks Company File?

Winding Up!

We hope that you find this article helpful. If you still have any doubt or you need assistance in protecting your essential data you can write to us or reach us at +1-855-771-8085. Our QuickBooks data recovery team will provide you the right tips & solutions to save your important data files from being damaged or lost.

 

FAQs Related to Lost QuickBooks data files due to computer crash

How do I recover a lost QuickBooks file?

You can restore a backup company file to recover a lost QuickBooks file. The steps involved are:
1. Head to the file menu, and further choose open or restore company.
2. You now have to choose restore a backup copy and hit next.
3. Once done with that, choose a local backup and hit next.
4. Browse your system for a backup company file.
5. Choose a folder to decide where to save your restored company file.

How do I reinstall QuickBooks after computer crash?

You can remove and then install QuickBooks by performing the steps in the control panel. This will help you start working on QuickBooks afresh.

How do you resolve data damage on your QuickBooks company file?

You can try repairing the company file using the rebuild data tool. The steps involved are:
1. Head to the file menu and hover over the utilities tab and choose rebuild data.
2. After that, choose ok tab.
3. You now have to let the tool repair your file.
4. When the tool finishes, hit ok tab.
5. Move to the file menu and let the tool check your file for data issues.

How do I find my QuickBooks data file?

The default location of a QuickBooks desktop company file is C:\Users\Public\Public Documents\Intuit\QuickBooks\Company Files.

 

More article related to data recovery

How to Fix QuickBooks Error Code 6123, 0?

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How to Fix QuickBooks Condense Data Errors (80004005, 80004003)?

How to Fix QuickBooks Condense Data Errors (80004005, 80004003)?

Fix Error Code 80004003, 80004005 – QuickBooks Damaged/Corrupted File Repair and Data Recovery

Troubled by QuickBooks condense data errors and can’t find an ideal way dump them? Well to save you from such a situation, we are here with this piece of writing. You might shockingly bump into condense data errors, when using QuickBooks accounting software and especially when trying to archive the data file. The condense data errors like 80004005, 80004003 in QuickBooks can hinder the smooth working procedure midway and might not let the file be condensed. The condensation process basically indicates the process to reduce the company file size. This feature further helps in reducing the size of the company file to a considerable degree restoring QuickBooks performance. You can land this this issue depicting a bunch of warning messages on screen, which include:

Warning 1- QuickBooks encountered a system error when trying to archive your data file. QuickBooks will not condense your data file. The error is – an unspecified error. Please try the operation again.

Warning 2- QuickBooks encountered an error and was unable to successfully complete the condense process. Your company file has been restored to its original state.

Warning 3- Unable to run QuickBooks Clean up data utility

Warning 4- Not enough storage is available to complete this operation Illegal operation error

You can come across these errors due to damaged company file at the time of attempting to condense the QuickBooks company file. Also, the issue QuickBooks Error 80004005 can be fixed by Intuit data services tools as it can scan and repair company files. The process will eradicate all the damaged files. To help you culminate these errors successfully, we have drafted this piece of writing with the complete details regarding these errors. You can call our QuickBooks Data Repair Support team on +1-855-771-8085 to obtain these QuickBooks errors solve shortly. Having said that, let us delve in deep and unleash further about condense data errors!

Read Also: How to Fix QuickBooks Error 6190 and 816?

What is QuickBooks Error 80004005, 80004003: QuickBooks Condense Data Error?

QuickBooks Error 80004005, 80004003 - Pro Accountant Advisor

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QuickBooks Condense Data Error shows up a different error code, for example, QuickBooks error code 80004005, 80004003. These codes indicate that company file repair in detail is required and keeps users from facing company data loss in condensing utility process or later. The troubleshooting for these errors may also not be the same. If you are performing the troubleshooting steps for QuickBooks error code 80004005, please ensure that you keep a portable backup of your company file.

How to Resolve Error 80004005 and 80004003 – QuickBooks Condense Data Errors?

What makes QuickBooks an ideal software even after being prone to certain errors is the fact that the users can implement some set of steps to rectify the errors successfully. And the same theory applies in case of condense data errors. Let us explore each of the methods that can be implemented to culminate the condense data error in QuickBooks.

Technique 1: Use Rebuild Data Tool

  1. First of all, ‘Reboot database server‘ or your computer system.
  2. Wait for your computer to shut down completely.
  3. Check and ‘Rebuild your QuickBooks company file‘ through utility tools.
  4. In case the step mentioned step doesn’t work, check if ‘QuickBooks is configured appropriately‘ and if the PC that hosts the data file is working properly

Verify and Rebuild to fix QuickBooks Condense Data Error 80004005

Tips to verify and rebuild to repair QuickBooks Condense Data Error 80004005

Verify and Rebuild Data in QuickBooks Desktop - Screenshot
  1. Firstly, Login to your QuickBooks and run it as a ‘System Administrator
  2. Go to your ‘Company file
  3. Choose ‘Utilities
  4. Select the prompt that will allow you to back up your file.
  5. Select ‘Verify‘ to check if the company file is hosted right.
  6. Allow it to rebuild and fix the errors

See Also: How to Fix QuickBooks Error Code 6150, -1006?

Technique 2: Clean Install QuickBooks Software

At times, a mere reinstallation of QuickBooks can rectify the issue to a certain extent, and clean installation is a more advanced version of the same. You can try performing the below procedure to clean install QuickBooks.

Step 1: Remove QuickBooks

  • You can try opening the windows start menu at first.
  • Eventually, search for the control panel.
  • Choose the programs and features tab or uninstall a program.
  • You would then have to select the version of QuickBooks desktop you want to remove.
  • Go for the option to uninstall/change, remove.
Uninstall and reinstall the QuickBooks file or program
  • Furthermore, select the next tab.
  • In case you are able to spot this option, try to sign out and sign in back to windows as admin.

Step 2: Install QuickBooks Desktop Again

Once you are done, install QuickBooks desktop, and when you install again, QuickBooks will automatically install new folders and rename the old ones.

Technique 3: Change the name of QBWIN.LOG file

In case you are facing an issue when condensing the file, try to rename the file. You simply need to add old in the file extension and then condense the company file.

Rename QBWin file - QuickBooks condense data errors
  • Start off by opening the QuickBooks folder in the Drive C.
  • Furthermore, you need to right click the QBWIN.LOG file.
  • Heading forward, choose Rename tab.
  • And then, add .old at the end of the file name.

After renaming the file, try to launch QuickBooks program and try condensing the company files.

Also Read: How to Resolve QuickBooks Desktop Error C=387?

Steps to Fix QuickBooks Condense Data Errors

Other than the above discussed procedures, you can try performing the below shared methods to eliminate the condense data errors in QuickBooks.

Method 1: Run QuickBooks File Doctor Tool

As the name suggests, QuickBooks file doctor tool is designed to eliminate all sorts of file related issues in QuickBooks. You can try performing the below set of steps to run the file doctor tool.

Run QuickBooks file doctor - Condense Data Errors

Step 1: Download and Install QuickBooks Tool Hub

  • You need to first close QuickBooks
  • Furthermore, download the latest version of QuickBooks Tool hub.
  • Save the file where it can be accessed easily.
  • Open the file you downloaded i.e., QuickBooksToolHub.exe.
  • Later on, perform the onscreen steps to complete the installation process.
  • In case you are unable to spot the icon, do a search in windows for QuickBooks tool hub and then choose the program.

Step 2: Run QuickBooks File Doctor Tool

QuickBooks file doctor - Condense data error 80004003
  • After opening the QuickBooks tool hub, head to the company file issues tab.
  • You would then have to choose run QuickBooks file doctor option.
  • This might take around a couple of minutes to open.
  • If QuickBooks file doctor doesn’t open, then look for the QuickBooks desktop file doctor manually and try opening it.
  • Choose the company file from the drop-down menu.
  • And further, if you do not see your file, then choose browse and search to identify and spot the file.
  • You now have to choose check your file and hit the continue tab.
  • Later on, enter the QuickBooks admin password and select next.
  • The scan time usually depends on the size of your file and might take around 10-15 minutes.

Also Check This Out – How to Fix QuickBooks Desktop Installation Errors?

Method 2: Fix Negative Entries in QuickBooks Company file

  • To start off with, explore QuickBooks Installation, and further open the qbwin.log file.
  • You will then have to scroll down to the bottom of the file and search for the error and type the error in the text.
  • Heading forward, the text in the file will show the transaction and entries that are having a negative value or any other type of issue.
  • You will then have to note the invoice number and look for the same in the company file.
  • Perform the necessary changes to the value of the transaction or the entry and save the file.
  • Towards the end, you need to try condensing the company file again and check if the issue is rectified or not.

Method 3: Start Windows in Safe Mode

Entering safe mode helps in eliminating various errors hindering the smooth working process. In order to enable the safe mode on windows, perform the following instructions:

Safe mode - Condense data error 80004005
  • Simply begin by pressing shift key and then restarting the system.
  • You will find the Advanced Boot options there on the startup screen.
  • Make sure to choose the troubleshoot option.
  • And further click on the advanced options. This will provide you with some advanced options, one of which is the startup settings.
  • There you need to click on the Restart tab.
  • When Windows starts, you will see the active boot options list.
  • You need to press F4 key to enable safe mode.
  • After you enter the safe mode, the system will itself prevent the third-party application from performing, ultimately preventing the errors.

Read also: How to Fix QuickBooks Update Error 1603?

Conclusion

If the Error 80004005, 80004003 persists or any new error code shows up you can contact our round the clock QuickBooks error support number at +1-855-771-8085. We are a team of highly trained and experienced QuickBooks experts and can help you fix any QuickBooks related issue in the least possible time.

FAQs

What happens when you condense data in QuickBooks?

When you condense the data file in QuickBooks, it reduces the size of the company file. It further converts individual point data for each calendar month into a single summarized entry. Condensing data conserves disk space. Not just that, it removes data points from the Single Test Point Data Entry dialog box and adds them to the Single Test Summary Data Entry dialog box.

How do I delete a transaction from QuickBooks condense data?

For this, you simply need to:
1. Click on the File menu.
2. After that, choose Utilities.
3. Now, select Condense Data.
4. Go for, Remove the transactions you select from your company file and click on Next.
5. Choose what transactions do you want to remove and click on Next.
6. Opt for how transactions should be summarized.

Can I undo the QuickBooks Condense data process if I encounter errors?

No, the condense data process cannot be undone. Thus, it is suggested to keep a backup of the company file before condensing the file.

 

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QuickBooks Condense Data Utility: Repair your Data Files

QuickBooks Condense Data Utility: Repair your Data Files

QuickBooks Condense Data Utility often assists in streamlining the company data file and enhancing performance. Intuit, lets the QuickBooks users to make use of the condense data utility feature and reduce the size of the company file to make it more compatible and easy to use. To use this utility, you simply need to use the QuickBooks condense data tool. This tool comes in handy, when the file size is way too large and causing issues. This particular tool was introduced in the year 2019. The tool keeps the data intact and ensures that your overall file size is usable.

QuickBooks Condense data utility

To help you understand QuickBooks condense data utility better, we have drafted this segment right here. Thus, stick around this article and find out the quick ways that can help you condense your data using the tool. However, if you need any technical guidance, you can contact our team at +1-855-771-8085, and let our certified professionals help you fix the issue.

Read Also: How to Fix data damage on your QuickBooks desktop company file?

Condense Your Data using QuickBooks Condese Data Utility

Now that you have an idea about what QuickBooks Condense Data Utility is, it is time to understand the right steps that can be performed to condense your data. Let us have a look:

Condense QuickBooks Data While Keeping All Transactions

  • Here you simply have to opt for File and then go for Utilities
  • Now, choose Condense Data
  • After that, go for Keep all transactions, but remove audit trail info to date
  • The next step is to click on Next
  • Once done with that, choose Close.

Condense QuickBooks Data by Removing Selected Transactions

  • Under this procedure, you will have to opt for File tab.
  • Later on, choose Utilities
  • Once done with that, go for Keep all transactions, but remove audit trail info to date.
  • The next step is to choose Next.
  • Lastly, let the process complete, and choose Close.

Condense Data by Removing Selected Transactions

  • The very first step is to choose File and then go for Utilities
  • After that, choose Condense Data
  • You now have to choose Remove the transactions you select from your company file.
  • Now, select Next tab
  • The next step is to choose the transactions you would like to remove and then hit Next.
  • Choose how transactions would be summarized, and then click on Next
  • Select how inventory should be condensed, and click on the Next tab
  • After that, choose the recommended transactions you would like to remove and then hit the Next tab
  • You now have to go for the list entries you would like to remove and click on the next tab
  • The last step is to choose begin condense and wait for the process to complete.
  • Hit close and end the process.

You might also find this helpful: How to Fix Error: This is a Corrupt or Damaged QuickBooks Database?

Understand QuickBooks Condense Data Utility Better!

There are a few factors that you can know to understand the QuickBooks Condense Data Utility in a better way. Let us Explore:

QB Condense Data Repair isn’t Reversible

After you condense your company file, note that it can’t be undone. You can try other solutions first, before you perform the steps related to condensing the data. Here are some quick reasons to do so:

  • Having a large data file
  • You have close to a list limit
  • In case you have upgraded your hardware
  • Your Accountant and technical support have discussed other options and are willing to proceed with condensing

Condense Data Utility in QuickBooks may or may not affect the size of the company file

  • It might reduce the size as it’ll remove transaction details and list entries.
  • Furthermore, open transactions won’t get condensed and the file size won’t be affected
  • The condense won’t be available, in case there is no significant change to the file size.

Condense Data Repair might not fix Data file damage

There can be scenarios, when QuickBooks condense data repair might fail in fixing damaged files, in such scenarios, you need to try the following:

QuickBooks Condense Data Repair doesn’t remove certain transactions

Transactions Description/Reason
Payroll TransactionsIn case the condense date is before 12/31/2018 or if an employee’s W2 isn’t reviewed.
Invoices, payments, credit memos, and refund checksIn case they are not linked to each other in a proper manner.
Payments recorded to Undeposited FundsIf they haven’t been deposited to a bank account.
Bills, bill credits, and bill payment checksIn case they are not linked to each other in a proper manner.
Estimates linked to invoicesEstimates are non-posting entries and can’t be condensed into journal entries, which are posting transactions.
Sales tax not paid in Pay Sales TaxPaying sales tax with checks leaves invoices open which are non-condensable.
Transactions linked to a non-condensable transactionExample: You entered an invoice on 12/15/2015 and the corresponding payment on 1/15/2016, then ran the Condense Data utility through 12/31/2015. Both won’t be condensed. This is because the invoice is linked to a payment made outside the period.

Also Read: How To Set Up a Chart of Accounts in QuickBooks?

Condense Data Utility Affects Various Reports

Account and item-based reports

The account-based reports will be accurate due to entries on accounts aren’t affected:

  • Profit and Loss (accrual)
  • Balance Sheet (accrual)
  • Statement of Cash Flows (accrual)
  • Trial Balance (accrual)

The item-based reports will be blank due to all of the item data is gone.

  • Sales and Purchase reports
  • Job Costing reports
  • Accounts Receivable and Accounts Payable Aging report

Cash Basis Reports

Cash basis reports for the condensed period will not be accurate. There aren’t any links from cash into income or from cash out to expenses.

Reports filtered by Class

Note that, any transactions summarized by the utility won’t have classes assigned. When you run a profit or loss by class report will show amounts in the unclassified column.

Sales Tax Liability Reports

It is important to note that the invoices with sales tax no longer exist. A condensed journal entry basically has an amount credited to income accounts. QuickBooks will not be able to identify what part of the income is taxable and which part is nontaxable. Moreover, the tax collected comes from the invoices, which no longer exist, so it will show zero.

Read Also: How to Turn off Sales Tax in QuickBooks Online 

Sales and Purchase Detail Reports

The reports draw their data from items on invoices and bills. As there are no more invoices and bills, there will be no more items and the reports will be empty.

A/R Collections Reports

The A/R collection report will usually show the condensed journal entries under No Name. The entries will contain the entries to A/R that aren’t linked to closing transactions and are considered as open. The total is zero as all of the invoices in the file are paid.

A/R reports won’t show the condensed journal entries as they have a default filter of Names All Customer: Jobs. You need to remove this filter and the A/R aging reports that will show the condensed journal entries.

Audit Trail Reports

  • Only edited, voided, and deleted transactions are removed from the audit trail report when condensing.
  • Moreover, the condense data doesn’t remove the audit trail report.
  • The audit trail report info option will be available in case a company file has a significant amount of edited, voided, or deleted transactions.

Reconciliation

  • Note that the opening balance for your next reconciliation will be correct as the condensed journal entries are cleared transactions
  • The checks and deposits no longer exist, so the reconciliation reports might be incorrect or gone.
  • The statement date gets incorrect as the last reconciliation ismissing.

Note: Before you condense, and reconcile all accounts, print all reconciliation and discrepancy reports, or save these reports in PDF format. Also, backup the company file.

Also Read: How to Create, Edit, or Delete QuickBooks Memorized Transaction?

Conclusion!

Toward the end of this segment, we believe that the reader might be able to successfully condense QuickBooks data file using the condense data utility. However, in case of any queries, or if the user needs our technical assistance at any point in time, then in that case contact us at +1-855-771-8085, and our certified ProAdvisors will help you with your queries immediately.

 

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