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In today’s topic, we are going to know, ‘How to upgrade company file in a new version of QuickBooks Desktop?’. Those who need a solution to update or upgrade the company file in a new version of QuickBooks Desktop, stay with us, and read the blog carefully.
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Whenever a QuickBooks user upgrades to a newer version of QuickBooks Desktop, he/she also needs to upgrade the company file. Because the company file is the most crucial file in QuickBooks. Here is the method, by which you can easily upgrade the company file after switching to a new version of QuickBooks Desktop.
Method to Upgrade Company File In a New Version of QuickBooks Desktop:
We will know the method to upgrade the company file, before that we should know the common things about this topic.
Common Things to Know Before Upgrading the Company File:
- Upgrading or converting company file in QuickBooks can only be done by the Admin user:-
If you are the only user having a single profile, then you automatically become the administrator and have all the privileges to view and modify your company file. On the other hand, if you are not the administrator and you want to upgrade your company file, then you will receive the message “The company file needs to be updated.” In such a situation, it is advised that you approach your QuickBooks administrator to help you update the company file.
- Do not upgrade your QuickBooks company file over a network:-
Moving further, you must remember that it is not necessarily required to upgrade or convert your company file while stored on a network or mapped the drive. Instead, the company file must be stored locally on the computer, where you have QuickBooks Desktop installed.
- You Cannot Open an Upgraded QuickBooks Company Data File in Previous Versions:-
If you upgrade or convert your QuickBooks Desktop company file to a newer version, then the older version of the QuickBooks Desktop program will not be able to open your newly updated company file. You may end up getting an error message when trying to open the company file on your previous version of QuickBooks Desktop accounting program.
QuickBooks can automatically backup your data file before being upgraded to a newer version. This is usually helpful, in case you decide to return to the older version, in case you wish to return to your previous version of QuickBooks Desktop accounting software, you can always restore the backup of the data file with your old version of QuickBooks Desktop. Yet again, if the transmission process is, for some reason, interrupted, then you have the possibility to restore your backup data file with your new version of QuickBooks Desktop in order to restart the upgrade process.
Steps to Upgrade Company File in QuickBooks Desktop:
Here is the method to upgrade company file in a new version of QuickBooks Desktop, you have to follow 4 steps for that, so read the blog carefully, and follow the instruction, in the step by step method, if you want to upgrade the QuickBooks company file.
Step 1: Install QuickBooks in your System
In the first step, we need to install the QuickBooks in the system, follow the below procedure to install QuickBooks:
- First of all, sign to the Windows or to your system as an admin.
- Then download QuickBooks desktop in the new version.
- And install the new version.
Step 2: Prepare the Company File
Now you need to prepare the company file, to upgrade company file in QuickBooks Desktop.
- At first, you have to open the original version of the QuickBooks.
- Now select or open the company file that you need to upgrade.
- Get the product information, from the product information window, by pressing the ‘F2’ key from the keyboard.
- Visit for the ‘File Information’ section, and note the location where the company file is saved on your system or PC.
- At last, run the rebuild tool to prepare the company file for upgrade.
Now go for the upgrade process of the company file.
Step 3: Upgrade the Company File
During this process, QuickBooks will ask you to upgrade the company file for the first time. Remember that, you will not be able to open the company file in the original version of QuickBooks, after the complete upgrade. Before starting the process, make sure that all the users logged out of your company file.
- Open the QuickBooks Desktop new version, and go for the ‘Open or Restore Company’ option, if you don’t have any opened company file.
- Or click on the ‘File’ menu and click on the ‘Open re Restore Company’ option.
- Then choose the ‘Open a company file’ option, and click on the ‘Next’.
- Choose the ‘Open a company file’ option and click on the ‘Next’ option.
- Click on the ‘Restore a backup copy’ option and then ‘Local Backup’, If you have a QBB file (company file) instead of QBW (company file).
- Browse your company file on your system, go for that location, and open it by selecting it.
- As an admin sign in to your company file.
- After that QuickBooks will automatically create a backup of the existing company file.
- If you want to save the backup in a specific folder then you can choose the ‘Change this default location’ option.
- Then click on the ‘Update Now’ option to start the upgrade. After the complete upgrade click on the ‘Done’ option.
- Now open the company file in the new version of QuickBooks Desktop, after the complete upgrade process.
Step 4: Update QuickBooks Desktop
- Update the QuickBooks, after opening the company file, so that you will always with the latest software release.
The process to upgrade company file in a new version of QuickBooks Desktop is very simple, a QuickBooks beginner can also do this. You just have to follow the steps carefully to upgrade the company file. We hope you will like this blog. And if you have any doubts regarding this or need help to perform this, then you can drop a call through our toll-free number +1-877-715-0222 to get our ProAdvisor Support.