QuickBooks is a widely known and efficient accounting software which allows a user to create a new company file. This new company file can be created every year and thus, it automatically deleted all the data entry required during the initial file set up. When you work on to setup a new company file in QuickBooks, then it is not necessary to delete or close the previous file.

Moreover, at year end, many companies find that they have a large amount of data which is affecting their performance. And the benefit about new set up is that you can simply start with the new file set up that is quite beneficial as it provides you with an extra level of security which protects your data from accidental losses.

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