QuickBooks Company File: How To Update?

QuickBooks is an accounting software developed by Intuit to provide the best accounting related services to its users. Built for businesses of all types, this application consists of various features and tools. In the business world, one company has tons of data that needs to be stored in a manner that is orderly and also easy to access. For that purpose, there is the QuickBooks Company File.

As a QuickBooks user, you are bound to receive constant updates for an enhanced experience. The company file also requires an update with time. Here in this article, we have gathered all the required information to help you with the process.

We will begin with a little insight on the update before we dig into the update process.

Points To Keep In Mind

  • If you have updated the QuickBooks software, it does not necessarily mean the company file has also been updated. You have to manually do the process.
  • Only the admin user has the authority to update the QuickBooks company file.
  • Do not update the company file over a network.
  • It is important to verify and rebuild the integrity of your company file that you are about to update.
  • You will not be able to open the updated company file in the previous version.
  • The Pro or Premier file that has been converted to the Enterprise edition will not open in the previous version.
  • The Enterprise edition file will only function in the Enterprise edition of QuickBooks.

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Updating The Company File

  • First, open the QuickBooks Desktop updated version.
  • Then, go to the file and select Open or Restore Company.
  • Now choose Open a company file and then click Next.
  • After that, select the data file and click on Open.
  • If the Move Company File window appears,
    • thoroughly read about the newer version. Then check-mark the box that you understand and select Update Now.
    • Next, follow the instructions given to back up the file and keep in mind the location where you wish to save the file.
    • If you open the company file in the updated version of QuickBooks, you might receive a prompt message stating Do you want to continue, click on Yes.
  • Once you are done with the update, make sure-
    • to save the company file in a location that is easy to access.
    • Create a copy of the file if it was copied from a different computer.
    • If you are unable to find the company file in its location, search for .QBW files on your hard drive. Also, look for them in Display hidden files or folders.
    • If you attached Payroll in QuickBooks Desktop, check your payroll service.
      • Go to the Employees menu.
      • Then, select My Payroll Service.
      • Finally, go to Account/Billing information.

Note: If you are still not able to open your Company file, there is a possibility that your company file has been damaged due to some sort of corruption on the hard drive.

Final Note

QuickBooks is quintessential accounting software that always wants its users to experience new and exciting features that make their accounting process easy and efficient. The company file update is one such attempt of the application.

We hope the information provided in the article was helpful to you. We believe you were able to understand and learn how to update the company file and were able to do so. However, if you come across any difficulty, you can get in touch with us. Call us through our toll-free number. Our team of experts and ProAdvisor will be happy to help you and guide you through everything. Also, you can contact us for any further queries related to QuickBooks.

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