QuickBooks stands out as an advanced accounting software, earning acclaim from users worldwide. Its developers continuously strive to enhance its capabilities. As a QuickBooks user, you can anticipate receiving regular updates and upgrades crucial to your operations. However, upgrading or converting company files requires a proper understanding of the process. Hence, this article provides comprehensive steps to facilitate a smooth upgrade or conversion of your company files.
Continue reading to learn how to upgrade or convert your company file to a new QuickBooks desktop version. Additionally, feel free to reach out to our tech support professionals for any technical assistance you may need. Our skilled team can provide instant support services to address your queries and concerns effectively.
Important Tips Before You Upgrade or Convert the File
Here are a few things you must know before upgrading or converting your company file:
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Only the admin user has the authority to update the QuickBooks company file.
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Upgrading the company file over a network is not advisable.
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Once a company file is updated or converted to a new version, it cannot be opened in the previous version.
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If a Pro or Premier file is upgraded or converted to the Enterprise edition, it will no longer be accessible in the previous version.
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Enterprise company files are compatible only with QB Desktop Enterprise Edition.
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Before upgrading or converting your company file, it's essential to rebuild and verify its integrity.
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This ensures a smooth process. In case of any errors, refer to Intuit's official website or contact QuickBooks Support Service providers for assistance.
Perks of updating QuickBooks Desktop Version
Updating both the QuickBooks accounting software and your company file to the latest version introduces numerous new features and functionalities. The benefits of upgrading your company file to the new version are extensive. Let's delve into them:
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One can enjoy better security of data with an update
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Another perk for the same can be, the elimination of bugs and QuickBooks error codes
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Updating the software also gives you real-time invoice status tracking, improved data files, etc.
Accessing data using an older version of QuickBooks
You cannot open a file saved in the current version of QuickBooks using an older version of the software, nor can you convert it to make it compatible. To use an older version of QuickBooks, you must open a backup file created using that version. For instance, if you wish to use QuickBooks 2017, you'll need to open a backup file from 2017. Keep in mind that you won't have access to any updates made after upgrading to the newer version of QuickBooks.
To open a backup file in QuickBooks, follow these steps: Click on the "File" menu, then select "Open or Restore Company." Next, click "Restore a Backup Copy." Locate the backup file, choose a folder to save the restored file, and give it a new name when prompted. Finally, click "Save."
Downgrading a QuickBooks plan
If you previously upgraded to a different version of QuickBooks from a less expensive one, you can revert back. However, careful planning is necessary beforehand, as some features you currently utilize may not be compatible with your former version. Factors to consider include:
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Losing connections to other apps.
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Losing applied discounts in your subscription.
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Losing recurring transactions.
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Losing support for some users.
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Losing inventory tracking.
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Losing multi-currency.
Evaluate the features available in your current QuickBooks plan and compare them to those offered in the plan you intend to downgrade to. If the older version of QuickBooks lacks the features you require, switching may not be advisable.
Preparation of company files for converting
It's crucial to thoroughly examine the data in the company file for any issues. Once the company file is converted, it becomes immutable, and no further alterations can be made. These steps are essential in preparing the company file for conversion and upgrading.
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To begin, it's important to create a portable company file. Additionally, it's recommended to refrain from using alphanumeric characters such as (! @#$ %^&*) in the name of the company file.
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Re-Sort all the six of the major list
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Access the list of Vendors, Customers, and Employees by clicking on the respective icon located on the top bar. Once you've located the list, conduct your search.
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Afterward, click on "View" and then choose "Re-sort List."
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Item List: Go to the list and then select Item List and then Click on Account which is situated in the bottom left you, can also see the last option is the resort list.
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The Chart of Account: Select the Chart of an Account by clicking on Account in the bottom left, the last option is the Re-sort list.
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Now, you will Reset the admin password or password hint because sometimes the passcode raises the problem so change the password for security purposes.
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Rebuild the data: Rebuilding your company data by official Intuit website.
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Verify the Data: Read up on the verifying related information by the Intuit site.
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Search the error in the QBWin.log file and read the file for any errors-
To Convert or Upgrade your company file
Before anything else, ensure you install the most recent version of QuickBooks Desktop software, like QuickBooks Desktop 2019. Following the installation, proceed to upgrade or convert your company file.
Only Admin users can convert or upgrade company files in QuickBooks
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If you're the sole user of your company file, you're automatically designated as the administrator. You'll need to sign in using the "Admin" user to proceed with these steps.
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If you're not the admin and you wish to upgrade your QuickBooks company file, you'll encounter the message "The company file needs to be updated."
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In such cases, kindly request your QuickBooks administrator to perform the company file update.
Do not update your QuickBooks Company file over a network
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You need to that it is not important to update company files while stored on a network or a mapped drive. This will take conversion unsecured. It also puts the file at risk of being corrupted.
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The QuickBooks Desktop Company file must be saved locally on the desktop you are operating it from.
Upgraded QuickBooks Data file can’t be opened in previous versions
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Once you convert the QuickBooks company file to a newer version, the older version of QuickBooks won't be able to open it.
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QuickBooks Desktop automatically creates a backup of your data file before updating it. Should you wish to revert to the older version, you can restore this backup using your previous version of QuickBooks.
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In case the transfer process is interrupted for any reason, you can restore the backup using your latest version of QuickBooks Desktop to restart the upgrade process.
Enterprise company files just work in QuickBooks Desktop Enterprise editions
If you want to upgrade or convert your company file from an old version to the latest one, simply follow the steps below:
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Restore and validate your company data file.
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If the validation process encounters errors, utilize the qbwin.log file to identify and resolve error commands.
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After the upgrade is complete, ensure the integrity of the modified data file by running the Verify Data utility. If this step fails, repeat the preceding steps.
Steps to Upgrade or Convert Company File to a Newer Version
If you have an active QB subscription, the Easy Upgrade feature will automatically generate an updated copy of your latest files. Additionally, you can follow these steps to upgrade additional company files.
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Open your updated version of QuickBooks Desktop.
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Go to the File, and choose Open or Restore Company.
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Select Open a company file.
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Click Next.
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Select your data file and select Open.
Important Note: If the Move Company File window appears, follow the instructions shown.
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Know about the New Version pane by reading thoroughly the info in the Update Company File. Check the checkbox to notify you understand, and select Update Now.
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Follow the provided steps to back up your file, and remember to note the location where you save it.
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If you attempt to open a company file using a newer version of QuickBooks, you might receive a prompt that reads, "Do you want to continue?" Select Yes to proceed.
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Also, perform the following steps once the file is updated:
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Make sure you save the backup in a safe location until you are certain that it won’t be required again.
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In case the file was copied from a different PC, create a file copy in the computer the file initially belonged to (or was copied from).
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If you are not able to find your data file in its original location or the particular folder, check your hard drive for *.QBW files. Also, search Display hidden files, folders, and files using Windows for more information.
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In case you have QB Desktop Payroll attached, check out your payroll service. Open the Employees menu > select My Payroll Service > see Account/Billing Information.
Some tips to get a smooth Upgrade of your QuickBooks Company File
Before updating your company file, there are several important tasks you must complete in your previous version of QuickBooks. Follow the key points provided below:
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Resorting of Your lists.
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Rebuild your data file.
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Verify your data file.
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Check your Qbwin.log file for error messages.
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Ensure the QB updated data files are in good shape.
Final Note!
We trust this article will guide you through the process of upgrading or converting your company file to a newer version of QB Desktop. However, if you encounter any difficulties or have any QuickBooks-related queries, feel free to contact our 24/7 QuickBooks support helpline team.
Frequently Asked Queries
How can you move your QuickBooks desktop company file to a new computer?
You can try moving the company file in QuickBooks desktop to a new computer by performing the steps below:
1. The user needs to first head to the file menu from QuickBooks
2. Now, choose the utility tab and select the move QuickBooks to another computer tab
How do I transfer data to a new version of QuickBooks?
For this, you need to open your new version of QuickBooks. Then, move to the file menu and choose open or restore company if you don’t have the company file open. Choose open a company file and hit next. In case you have a backup company file, then choose to restore a backup copy.
How do I upgrade QuickBooks?
You need to choose the settings tab first and then select the account and settings tab. Once done with that choose the billing and subscription tab. Ensure that the payment info is updated. In the QuickBooks online section, choose upgrade the plan.