QB Issue Resolution:

seems silly that QB does not have the same functions to archive a portion of the data file the way quicken does, especially when you consider the same company makes both. one desk does not talk to the other syndrome

get these two utilities and create a new file with only current items, customers, vendors, etc going forward, keep the old file as a record in case of an audit

Beginning balance transfer
http://marketplace.intuit.com/AppID-2441-Overview.aspx
Data Transfer
http://marketplace.intuit.com/AppID-2309-Overview.aspx

Resolution for Issue 'CREATING NEW COMPANY FILE.' available: Yes (Solved).
Source: Intuit Community forum.

CREATING NEW COMPANY FILE.: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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