A Quick Guide to fix QuickBooks Company File Error
                     Start A New Company File 
With Data From Your 
Existing File in 
QuickBooks
The essence of QuickBooks lies in its ability to streamline complex accounting tasks and 
maintain organized financial records through its advanced features. The company file 
serves as the cornerstone of QuickBooks, housing vital financial information. However, as 
data accumulates, errors can impact performance.
Each QuickBooks user must create and manage their company file diligently. QuickBooks 
enables users to save multiple company files for distinct businesses, offering flexibility and 
convenience. So, let’s start a new company file with data from your existing file by 
following this guide.
In this segment, we delve into the process of starting a new company from existing data in 
QuickBooks, providing valuable insights and guidance. For those hesitant or unfamiliar 
with the process, our dedicated technical support team stands ready to assist on our Toll-
Free Number 1–855–856–0042, ensuring a smooth transition without compromising crucial 
data integrity.

When Is It Necessary to Create A New 
Company File?
You might need to create a new company file in the following cases.
• After exhausting troubleshooting options for restoring QuickBooks functionality, the next 
logical step is configuring it for an existing company. However, if your current QuickBooks 
version exhibits performance degradation, upgrading to a higher version isn’t a viable 
solution.
• In some instances, a damaged company file may defy repair attempts, including using 
Rebuild Data Utility. In such cases, restoring the latest backup
is an option. However, if even the backup is unavailable, starting a new company file becomes 
the only solution.
How to Create A New Company File Using Existing 
Data?
When a QuickBooks Company File Error, you need to create a new company file using 
existing data. To ensure an error-free process, you need to create a backup of your company 
file data.
Step 1: Duplicate an existing company file
• Launch QuickBooks Desktop and open the desired company file.
• Access the location of your file by pressing F2 to open the Product Information window.
• Under File Information, note the file’s location on your computer.
• Create a backup of your company file and rename it during the restoration process.
Step 2: Clear transactions from the duplicated company file
After restoring the backup, a new company file is generated with identical accounts, lists, 
templates, and preferences. To initiate a clean slate, remove the transactions copied by 
QuickBooks.
• Open the newly created company file.
• Navigate to ‘File,’ ‘Utilities,’ and select Condense Data. Confirm the removal of budget 
data if prompted.
• In the Condense Data window, opt for All Transactions and proceed with the prompts to 
eliminate transactions.
Step 3: Verify account status
Following the data condensing process, QuickBooks purges transactions. Run a 
Transaction List by Date report to ensure your accounts are devoid of entries.
• Access ‘Reports’ and click on the ‘Reports Center.
• Locate the ‘Account & Taxes’ section and access a ‘Transaction List’ by Date report.
• Adjust the date range to commence before the oldest transaction in the copied file.
Step 4: Re-establish online banking, payroll, and additional services
For users utilizing various QuickBooks features and services, proceed to set them up 
afresh to effectively manage your financial records.
Using QuickBooks, we’ve seamlessly transferred existing company data to a new file, 
ensuring continuity and accuracy in financial records. This transition enables us to 
maintain historical data while facilitating a fresh start for enhanced organization and 
efficiency in financial management. If you face any issues in the process to start a new 
company file with data from your existing file, dial our Toll-Free Number 1.855.856.0042.