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Choose how to summarize transactions

When you condense your company file, you can tell QuickBooks how to summarize transactions. Select one of the following options:

  • To replace all transactions before the selected date with a single general journal entry, select Create one summary journal entry. If you use this method, you won't be able to run historical monthly or quarterly financial statements.
  • To replace all transactions up to the selected date with monthly general journal entries, select Create a summary journal entry for each month. This method is preferable if you need to run historical monthly or quarterly financial statements.
  • To condense your company file without creating a summary, select Don't create a summary. Note that this option doesn't create a journal entry. With this choice, you would need to enter opening balances manually.
KB ID# H_FILES_CONDENSE_HOW_TO_SUMMARIZE
12/2/2016 2:15:12 PM
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