We all are aware of the fact that QuickBooks is more prone to errors. One of the common errors that users usually encounter is ‘The company file needs to be updated‘ and unexpectedly closes the company file. This error message on your screen states that you need to update QuickBooks company file to work on it continuously.   


This interruption occurs when you have updated QuickBooks or upgraded it to another version like Pro or Premium, which causes incompatibility between the company file and the program. So, it is necessary to update your company file quickly, as QuickBooks only opens the file as it’s a similar version. Continue reading this guide till the end to upgrade your company file successfully.   


Updating a company file involves following a critical process, which might be difficult for you. If you also think the same, you must contact experts for help. Dial +1(855)-738-0359 to connect with QB experts on a direct call 


Here’s How to Update the Company File to a New Version of QuickBooks 


You must update QuickBooks company file to the higher version after upgrading QuickBooks to the higher version rather than switching it to the compatible version. Follow the stepwise instructions provided below to update the company file and open it successfully:   


Note: If your company file is located on a server network, move it to the computer’s local hard drive. You can move the file back to the server after updating it.   


Things You Should Do Before Upgrading the Company File Version 


Below, we are discussing some of the crucial points you should know before updating the company file:   


  • No one is signed in the QuickBooks company file when updating it. 
  • The company file should be open in the upgraded version of QuickBooks.   
  • You can check the ‘Product Information’ by pressing the F2 key on your keyboard. 

Recommended To Read : Why is QuickBooks Desktop Missing PDF Component?

Get the Updated Version of the QuickBooks Company File 


Let’s update the QuickBooks company file to its version by following the given instructions: 


  • Open the new version of QuickBooks Desktop. 
  • Move your cursor to the menu bar and click on the ‘File’ menu. 
  • From the dropdown menu, select ‘Open or restore company.’ 
  • Select the ‘Open a company file‘ option and then hit ‘Next.’
  • Find the company file you want to update and click ‘Open.’
  • Enter your admin password and sign in to your company file. 
  • Before proceeding further, QuickBooks will ask you to create a backup company file. Select ‘Yes’ and then select ‘Change this default location’ to save the file in a different location.
  • When done, review the update setup and click ‘Update Now.’
  • Select ‘Done’ when the update process finishes. 

Note: After updating the company file, you can move back your company file to the server.   


We hope the manual instruction above is enough for you to ‘update QuickBooks company file.’ There can be chances when you face issues while updating the company file version. If that happens, you must get in touch with QB experts at +1(855)-738-0359 and consult the issues you are facing. 

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