If you are a QuickBooks user, you need to keep yourself updated with all its updates and upgrades. Qb releases new updates every now and then, either to fix a bug or to release any new feature. And whenever you update the application, you have to update the QuickBooks company file, also. If you do not do it, you may face issues and errors like the error message QuickBooks company file needs to be updated while accessing the company file in the new version of the application. However, updating the QuickBooks company file is a very straightforward process. You can do it manually or can set it to get updated automatically as you wish. The steps required to update the company file are given in the blog below.
Preparatory Steps to be taken before you update the QuickBooks company file
Before you update the QuickBooks company file, you need first to double-check the company file data for any issues. Because as soon as you convert or update the company file, you will not be able to make any changes to it. So, you need to remember these points before converting or upgrading the company file.
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First, you have to create a portable company file.
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Also, make sure that there are no alphanumeric characters in the name of the company file.
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What are the Steps to Update the QuickBooks Company File
You need to follow the given steps in sequence when you update your company file. Moreover, also make sure that no user is logged in to the company file and that you are logged in with the QuickBooks Admin Account.
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Open the QB Desktop, and then from the File tab, click Open or Restore Company.
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Then, choose the option that says Open a Company File or Restore a Backup Copy.
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Then, you have to select the Local Backup option if you wish to open the backup copy of your company file from the local storage.
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After that, browse the file and click on Open.
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Then, QB will ask you to provide the admin account login credentials in case you are not logged in as QB administrator.
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So, enter the username and password and sign in to the company file.
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After that, QB will display a window saying, “QuickBooks Needs to Update your Company File” Click on the Update Now button.
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Then, QB will automatically make a backup copy of your company file before updating it. You can also change the location of your backup file by using the Change this Default Location option.
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Lastly, click the Done button once the file is updated.
After you have completed the update process for the company file, proceed ahead with the following steps:
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Make sure to save your backup company file to an easy-to-locate location such that you can access it in the future.
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If you have copied the file from any other computer, you have to update it by copying it again.
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If you have QB 2007 version on your system, then you might have moved your company file from the past version. You will find the files in the given location for different Operating Systems.
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For Windows 7 or later systems, you will find your file by going through the path C:/Users/Public/Documents/Intuit/QuickBooks/Company Files.
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For Windows XP, you have to navigate to the path C:/Documents/Settings/All/Users/Shared/Documents/Intuit/QuickBooks/Company Files for your file.
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If you do not find your file in the desired folder, search for it on the hard drive. Check for the files with *.qbw extension.
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Also, you can check the hidden files and folders if you still do not find the file.
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To Sum up
Well, this was enough information for you to learn how to update the QuickBooks company file; however, in case you still find it difficult or have any questions regarding this. You can connect with our team at Data Service Solution. Call our QuickBooks Support Experts at our Toll-free number +1-(855)-955-1942 for better help and assistance.