Learn How to Upgrade QuickBooks Company File
                     Easy Steps to Upgrade 
QuickBooks Company 
File
When you upgrade to a newer version of QuickBooks Desktop, you must also upgrade 
your company files because this allows the file to be opened in the new version of 
QuickBooks Desktop. Also, updating your company files ensures you have the latest 
features, improvements, and security. In simple words, we can say that updating the 
company files in QuickBooks is like keeping your software and data in sync and 
secure. So, let's learn how to Upgrade QuickBooks Company File to ensure maximum 
efficiency.
If you need any help updating your company files, do not hesitate to call us. Dial 
1.855.856.0042 and get professional assistance from our experts. 

Steps to Update the Company File
Follow the below steps to update your company file in QuickBooks Desktop. Make sure to 
follow each step carefully, as failing to do so can cause QuickBooks to throw an error 
message stating, "This company file needs to be updated."
Step 1: Prepare the company file
• Start by opening your current version of QuickBooks Desktop.
• Navigate within QuickBooks to open the company file that you want to update.
• Press the "F2" key on your keyboard.
 
• The Product Information window will open.
• Find the "File Information" section and note the location where your company file is 
saved on your computer.
Note: If you store your company files on a server, temporarily move them to your local hard 
drive. You can move them back after completing the update process and opening them in 
the newer version of QuickBooks Desktop.
Step 2: Update your company file
Note: QuickBooks Desktop 2024 or Enterprise 24.0 have the best security features that 
ensure top-notch data protection. Once you update your files to QuickBooks 2024 or 
Enterprise 24.0, it is essential to reset the passwords for all non-admin users to a 
temporary password. When these users log in, they will have the option to create a new 
permanent password.
• Before proceeding with the update, ensure all users are signed out of your company file.
• Launch the new version of QuickBooks Desktop that you want to update to.
• Now, move to the "File" menu.
• Choose "Open or Restore Company."
• Choose "Open a company file" and click "Next" to proceed.
• If you have a backup company file (QBB) instead of the primary company file (QBW), click 
on "Restore a backup copy."
• Locate the company file you want to update, select it and click on "Open."
Note: If you are unable to locate your files, go to the Windows Start menu, then File Explorer, 
and after that, search for your company file name or use the QBW extension.
• Access your company file using the admin credentials.
• QuickBooks may automatically create a backup of your existing company file. 
• Click on "Change this default location" if you want to change the location. 
• Select "Update Now.”
• Once QuickBooks finishes the update, select "Done".
Note: If the update fails and you can't open the file, you can restore the backup created in the 
above step and try the update again.
This is how you can upgrade your QuickBooks company file. If you face any issues while 
performing the steps, feel free to give us a call at 1.855.856.0042 for help.