Q:
Subject: Quick BooksI seen your page on QB and I was wondering if you know how many years I can use my QB Pro 2007?
Simply Accounting stated on the box that it can save up to 7 years. Is there any limits in QB2007?
Kindest Regards,
A:
None of the regular QuickBooks programs has ever had any limits on how many years' data you could keep in a single company file. It's just a matter of your hard disk space. I actually prefer to keep as many years as possible in the same file for easier reporting and comparisons of multiple year data. I currently have the entire history of our first corporation, covering from 1994 to the present, in a single QBW company file and have every intention of letting it accumulate forever.
I encourage all of our clients to do likewise. I frequently need to look up older data. This has especially been useful while preparing 2006 tax returns and locating the 2003 through 2006 phone bill charges for the special long distance tax credit. Clients who didn't have those back years in their QB files had to accept the measly standard $30 to $40 credit, while those whose data extended back often received credits of over $1,000.
I have no idea of the space limitations present in the two crappy versions of QuickBooks that I advise against using, Simple Start and QuickBooks Online; but wouldn't be the least bit surprised to see limitations in both of them, especially the online version, where your files are stored on the Intuit servers and you have no control over how many years they choose to hold onto.
All of the desktop versions of QuickBooks, from the first one to the current 2008 versions, allow you to accumulate an unlimited number of years of data in a single company file.
I hope this helps.
Good luck.
Kerry Kerstetter
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