Swiftly Upgrade QuickBooks Company
Files
Upgrading your QuickBooks company file is an important step to keep your accounting software and
financial information up to date. As your business grows, you need the latest features and tools that
newer versions offer. This upgrade helps you work better and keeps your financial data safe. Also, when
you move to a new and latest version of QuickBooks, you must upgrade your files to avoid compatibility
issues. In this guide, we will walk you through the simple steps to upgrade QuickBooks company
files smoothly.
Upgrading your QuickBooks company file can be tricky, and you might worry about losing
important data. To avoid all these hassles, just give us a call at 1-855-856-0042. Our
QuickBooks experts will assist you and ensure that the company files upgrade goes
smoothly.
Update Your Company File
When you upgrade to a new version of QuickBooks without updating your existing files,
you might encounter the error: “This company file needs to be updated.” Therefore,
you must update your files.
Step 1: Prepare the Company File
 Launch your current version of QuickBooks Desktop.
 Open the company files you want to update within QuickBooks.
 Press the “F2” key on your keyboard.
 Access the Product Information window.
 In the “File Information” section, note the location where your company file is saved
on your computer.
Note: If your company files are on a server, temporarily move them to your local hard
drive. You can transfer them back after completing the update and opening them in the
newer version of QuickBooks Desktop.
Step 2: Update Your Company File
Note: QuickBooks Desktop 2024 or Enterprise 24.0 offer the best security features for
optimal data protection. After updating, reset passwords for all non-admin users to a
temporary password; they can then create a new permanent password upon logging
in.
 Ensure all users are signed out of your company file before proceeding.
 Launch the new version of QuickBooks Desktop you want to update to.
 Navigate to the “File” menu.
 Select “Open or Restore Company.”
 Choose “Open a company file.”
 Click “Next” to continue.
 If you have a backup company file (QBB), choose the “Restore a backup
copy” option.
 Locate the company file you want to update, select it, and click “Open.”
Note: If you can’t find your files, go to the Windows Start menu, then File Explorer, and
search for your company file name or the QBW extension.
 Access your company file using admin credentials.
 QuickBooks may automatically create a backup of your existing company file.
 Click on “Change this default location” if you wish to modify the backup location.
 Select “Update Now.”
 Once the update is complete, click “Done.”
 Note: If the update fails and the file won’t open, you can restore the backup created
earlier and attempt the update again.
Conclusion
After following the steps given in this guide, users can effectively upgrade QuickBooks
company files and ensure a smooth transition to the latest version while keeping their
data safe.