• Sat. May 3rd, 2025
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    Business

    How to Update Your QuickBooks Company File in 2023

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    3 minutes, 42 seconds Read

    While working on QuickBooks, you may receive an error, ‘This company file needs to be updated 2023’ To work continuously on your company file without interruption, you must keep it updated. 

    There can also be other reasons that make you keep your company file updated for switching to QuickBooks to a different version or to get rid of common company file issues while accessing QuickBooks. 

    To help you Update QuickBooks Company File 2023, we are writing this guide that contains the complete process of file update and all the related information. Follow all the steps carefully: 

    If you face any difficulty while following the guide to update the company file, dial +1-(855)-955-1942 and get in touch with us.

     

    Essential Things to Consider Before Updating Company File in QuickBooks  

    Before starting file updating, ensure you are logged in as an admin user in Windows. You cannot upgrade your company file if you are a user of QuickBooks Desktop Enterprise. When your company file is under update, no user on the network can access the company file.  Using an outdated version of QuickBooks after updating the company file can cause errors and makes you unable to access the company file after updating it on an older version. 

    What You Must Do for a Smooth Company File Update

    • Prepare a condensed form or portable company file. 
    • Ensure you do not use an alphanumeric character while naming the company file. 
    • Reset admin password & password hint to avoid data security-related issues. 
    • Before you update your file, do not forget to verify and rebuild the tool to fix common company file errors. 

     

    Get to know how to Fix the QuickBooks Company File in use please wait

     

    Here’s How you can Update Company File in QuickBooks 

    You can find all the necessary instructions for updating your company file below. Make sure you are carefully following all the instructions, and don’t forget to take all the necessary actions stated above to ensure a seamless update: 

    Step 1: Download and Install QuickBooks 

    For instructions on how to download and install QuickBooks, see the list below:

    • Start with signing in to Windows as an admin user. 
    • Get QuickBooks now in the most recent version. 
    • To install the downloaded file, QuickBooks.exe File, follow the prompted instructions, and accept the license agreement and Next. 
    • Finally, enter the product and license number to launch the QuickBooks Desktop and then Next. 

    Related Post: Backup Company File In QuickBooks Desktop

    Step 2: Prepare Your Company File 

    You must set up the company file before starting the real upgrading process. Learn how you can do it:

    • Launch QuickBooks and choose the file you want to upgrade. 
    • Now press the F2 key to open the Product Information window, where you will find all the information like Product Number and License Number.  
    •  Further, move to the File Information section and get where you saved your company file. 
    • Finally, ensure your file is verified and rebuild the tool to ensure everything is alright with the company file. 

    Step 3: Upgrade Your Company File 

    • First, ensure all users are signed out of your company file to start upgrading. 
    • Now, launch QuickBooks’ latest download version. 
    • Further, move to the top menu bar and click on the File menu, then select Open or Restore Company from the dropdown. 
    • Now, tap on Open a company file and Next.  

     

    If you have a backup company file (QBB), use that option rather than a company file (QBW). 

    • Find the company file you are upgrading and open it. 
    • Now sign in to the company file as an admin user. 
    • After that, QuickBooks will automatically create a backup of your existing company file. If you want to save the backup in a specific folder, choose Change this default destination.
    • Select Done when the process is finished.

    Also See: Intuit Data Protect Has Stopped Working

    Step 4: Update QuickBooks Desktop 

    You must update QuickBooks to the most recent release to work on the updated company files:

    • Launch QuickBooks and go to the Help menu. 
    • From the dropdown, select Update QuickBooks Desktop. 
    • Now click on the Update Now button and then Get Updates. 
    • When the process is done, restart the program. 
    • Now you will be asked to install the update and select Yes. 
    • Follow the on-screen directions to finish the installation procedure.  

    Conclusion

    Even after following the complete instruction manual, are you still unable to update QuickBooks company file? If so, dial +1-(855)-955-1942 and consult with the team of QuickBooks experts.   

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