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Get the best ways to upgrade your company file so it works in newer versions of QuickBooks Desktop Pro, Premier, or Enterprise:

Planning to upgrade your company file after switching to a new version of QuickBooks desktop? If yes, then you have landed at the right page. In case you are upgrading to a newer version of QuickBooks, then you might need to upgrade the company file so that you can keep using it. It should be noted that, you only have to upgrade the company file once.

Upgrade QuickBooks company file - Screenshot

Moreover, one needs not to upgrade the file when switching to a different edition (Pro, premier, enterprise). Another important thing to note is that the process is different from updating the QuickBooks desktop software to the latest release. To know more, make sure that you scroll through the post carefully. Or consult our team of U.S based best accountants and accounting professionals.

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Steps to upgrade old company file to work in a newer version of QuickBooks

Before you start off with a process, the most important thing is to note that if you are using an Intuit hosting server to run QuickBooks, then there is no need to carry out the process, you can simply reach out to them for upgrading the files. Also, if the user has subscribed to QuickBooks desktop pro plus, premier plus, or enterprise, then the steps can be skipped.

Now that you know the important points, it is time to start with the steps to upgrade the company files after switching to a new version of QuickBooks desktop.

Step 1: Installing QuickBooks desktop

Quickbooks Diagnostic tool installation- screenshot

Step 2: Preparing the company file

It should be noted that this step along with the third step of upgrading the company file should be followed for each of the company file that is to be upgraded. The steps involved in here are as follows:

  • The user needs to open the original version of QuickBooks. And then open the company file to be upgraded
  • Now, press F2 key to open the product information window
Product Information window - Screenshot
  • And look in the file information section and also note where the company file is saved on the system
  • The user is then required to run the rebuild tool for the company file. This preps it for the upgrade.
Verify-and-Rebuild-Data-in-QuickBooks-Desktop-Screenshot.jpg

In case the user keeps the company files on a server, then in that case it is suggested to move the company files to the computer’s local hard drive. The user can move them back after upgrade.

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Step 3: Upgrading the company file

QuickBooks asks the user to upgrade the company file the first time it is opened up in the newer version. Also, it is important to keep in mind that the user won’t be able to open the company file in the original version of QuickBooks after upgrading it. The steps to be followed here are as follows:

  • Here, the user needs to first ensure that all the users are logged out of the company file
  • Now, open the new version of QuickBooks desktop
  • And also, select open or restore company, in case you don’t have a company file open. Moreover, navigate to the file menu and select open or restore company
Open or Restore a company file - Screenshot Image
  • The next step is to select open a company file and hit next. In case the user is having the backup company file instead of company file with .qbw file, then it is suggested to select restore a backup copy and then local backup
Create local backup of QuickBooks company file - Screenshot
  • Moving ahead, the user needs to browse the system for the company file and also select the file location written in step 1 and choose open.

It should be noted that if the user is unable to spot the company file, then it is suggested to open the windows start menu and also open file explorer. Followed by search the company file by name or the .qbw file extension. In case the user is unable to find it, then ensure that it is not hidden.

  • Now, sign in to the company file as admin
  • Before upgrading, the QuickBooks software will create a backup of the existing company file. The user will have to select change this default location to save the backup in specific folder
  • And also, choose update now tab to start the upgrade
Update QuickBooks desktop company file to latest version - Screenshot
  • The last step is to select done, when QuickBooks completes the process

The user can open the company file in the new version of QuickBooks desktop. In case the user keeps the company file on a server, then he/she can move them back.

Step 4: Updating QuickBooks desktop

Update QuickBooks 1-screenshot

After upgrading and opening the company file, the user needs to update QuickBooks desktop so that he/she has the latest software release.

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Conclusion!

Upgrading the company files after switching to a new version of QuickBooks desktop isn’t a tough nut to crack. In this piece of writing, we have tried to summarize all possible steps to carry out this process.

However, if you are unable to upgrade the company files even after implementing the above strategies, then in that case we are there to assist you. Connect with our CPA’s and accounting experts using our helpline number i.e. +1-844-521-0490, and get instant support services from some of our tech geeks.

 

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