QuickBooks provides two ways (actually, three) to create a copy of your QuickBooks data file.
When you think about it, it's pretty amazing that Intuit is able to pack the lion's share of your financial data into one giant company file. Certainly makes it easier to separate from QuickBooks and move when necessary.
There are actually three options for saving and relocating that file. You know about backups, since you should be producing them religiously. You generate them so that if QuickBooks – or your computer itself -- stops working or your file becomes corrupt, you can re-create the entire environment. Portable company files are more limited, and are best used when you want to save your file to a temporary location and/or email it to someone else.
You would only use an Accountant's Copy, of course, when you want us to check your progress. We'll work with you on setting this up.
Figure 1: Once you save and send off an Accountant's Copy, you can't work on transactions created before the dividing date.
The Critical Backup