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Archive and purge

I have accounting data that I ported from quickbooks into SQL Ledger then into LedgerSMB 1.2 then into LedgerSMB 1.3 going back to 1997.

I'm choking on all the old data and would like to archive it and purge it, or failing that, start a new set of books and transfer over just that which makes sense (inventory, starting balances, etc.)

Has anyone done something like this? And can you share what you learned?

Thanks in advance,