How to Update Your Company File after Upgrading QuickBooks?
QuickBooks is one of the top-rated accounting tools used by businesses to ensure swiffer financing! Are you still using an older version of the accounting platform in your system? It’s time to update the existing QuickBooks tool to an upgraded version for best use! Some of these upgrades are free & some need to be purchased!
You can still use your earlier documents & files in QuickBooks with simple updates! Upgrading the software doesn’t guarantee you the automatic update of the company files & they need to be manually updated. Make sure you update the QuickBooks tool first & then update the files for best use.
Are you looking for steps to update your company files with QuickBooks's newer version? This article will provide details related to updating the files & things to watch before the update. Make sure you have the right idea to upgrade the files correctly to avoid any hassle.
Table of Contents
1. The Need to Upgrade to a New QuickBooks Version
2. Things to Consider before Updating the QuickBooks Version
3. Steps to Update the Company File after QuickBooks Upgrade
The Need to Upgrade to a New QuickBooks Version
QuickBooks have been developed by Intuit and every year the software goes through updates to add on new features. There are also multiple versions of the software that fit according to the needs of different businesses. Whenever the QuickBooks upgrades are available, it is advisable to comply with the upgrades for the best results.
QuickBooks cloud accounting is one of the finest ways to do accounting and there you need manual update of files. But, companies using the desktop QuickBooks software need to get the files to update manually using the steps mentioned below in the article.
Are you already using a QuickBooks tool in your business? It needs to be updated to fit in new functionalities for your business. There are different situations when Intuit forces you to upgrade the existing version.
The two primary reasons that force the business for a QuickBooks tool update -
· Have you installed a new operating system on your computer? The QuickBooks tool will not work at all in such a scenario & it forces for the mandatory update of the software.
· Are you using an older version of QuickBooks? It might be the reason that Intuit is not supporting the QuickBooks version at all.
If you haven’t been using any accounting or financial tool for your business, then the right to buy one! Make sure your system is upgraded with the latest tools so that there is no mismanagement in the business finances. Install an upgraded version of QuickBooks software in your office system or select cloud hosting as per the business need.
QuickBooks allows easy integration of all files & data into the system after the upgrade. But, the files need to be updated manually on the upgraded software. If you have selected the right hosting service then technical experts will come to your rescue regarding any sort of problem. Make sure you are completely sure of upgrading the QuickBooks tool for smoother accounting!
Things to Consider before Updating the QuickBooks Version
Looking to upgrade your QuickBooks tool to a new version? Getting the error message ‘This QuickBooks file needs to be updated? It shows that the company files are not upgraded on the new version of software & need to be done manually.
Let us look at things to consider before updating QuickBooks to a newer version –
1. Make sure you have the admin rights to update the QuickBooks file. If you are already logged in as Admin User by default but still getting the message ‘The company file needs to be updated. Ask your QuickBooks Desktop administrator to update the file’, then close the QuickBooks software & login again using the Admin login credentials.
2. Avoid any kind of company file update over the network. When you get the prompt message as ‘QuickBooks company file needs to be updated’ then avoid updating the company file. Move the file to the system & update it there only in case of updating the file from a different computer.
3. Do not interrupt the file update process even if it takes a longer time. The business should be prepared for it & prepare the backup for that limited time when the updates take place.
4. Make sure you reach out to the right kind of QuickBooks hosting provider who can also help you upgrade the QuickBooks account as needed. Select the plan that suits your budget & need!
Steps to Update the Company File after QuickBooks Upgrade
The business files don’t get updated in the upgraded QuickBooks software automatically and it requires manual work. For updating the company file after a software upgrade, take the help of QuickBooks Company File Update Wizard to guide you with the process.
Follow the steps to update the company files after QuickBooks upgrade –
Step 1: Launch the QuickBooks account by logging into the server with accurate Admin credentials.
Step 2: Now select the option ‘Open or restore an existing company.
Step 3: Select ‘Open a company file’ and click on ‘Next’.
Step 4: Browse and go to the location of company files. If your server is having a shared data drive then look for the file accordingly. Locate the company file and click on ‘Open’.
Step 5: Now enter the company file’s Admin credentials and click on ‘Ok’.
Step 6: The user will be prompted to update the company file. Then click ‘Update Now’ and then the QuickBooks Company File Update Wizard will begin the process of file update.
Step 7: Once the update is complete, click on ‘Done’ and start working on the file in the newer version of QuickBooks.
QuickBooks software is changing the way businesses used to do their accounting tasks! To manage the account effectively and use it rightly, the tool needs to be upgraded regularly. Once the upgrade is done, make sure all the business files are updated manually using the above steps.
Reach out to the right kind of QuickBooks hosting provider who can help you in getting the updates regularly. Also, the technical experts assist in the update of business files when needed. Make sure you update the company files to use the previous data as per the business need.
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