QuickBooks Desktop is tremendously admired across the globe due to its extraordinary accounting & bookkeeping features that are aptly suited for small business units. Intuit ensures that this software remains in prime working condition by constantly releasing fresh updates as per the growing requirements of users.

After installing new QB updates, many users receive an error message called This Company File Needs to Be Updated at the time of opening the company file. This message indicates that the company file will be required to be updated so that it can be launched through the updated edition of the QB Desktop application.

The present blog gives you an authentic step-wise procedure to effectively upgrade the company file on the system.

If you are extremely annoyed due to the ‘This Company File Needs to Be Updated’ error message, you can dial 1.855.738.2784 to contact our QB Specialists Team for assistance.

Crucial Points to Study Before Trying to Upgrade QuickBooks Company File

There are some specific points that describe various conditions & requirements that every QB user must be aware of before trying to upgrade the QuickBooks Company file on the system:

1. First & foremost, you must note that the process of upgrading the company file can only be carried out by executing QB through admin credentials. If you don’t possess the admin credentials, you can seek them from the QB network administrator.
2. The company file must be present on the computer on which the upgrade process of the company file needs to be carried out. If you have saved the company file on some other computer attached to the network, you must move the same company file to the desired system where you can accomplish the required process.
3. It is very crucial to make sure that the update process of the company file is not interrupted on the computer. If any user interrupts the ongoing update process of the company file, the process will stop. Therefore, you should allow sufficient time to ensure that the update process of the company file is completed on the computer.
4. Finally, you must know that the updated company file cannot be opened in the older edition of the QB Desktop application. Furthermore, the updated company file will also not open in any other version of the QB application.

You May Also Read: What is Error Code 80029c4a in QuickBooks?

Correct Step-by-Step Procedure to Upgrade QB Company File

 Here is the valid step-by-step procedure to upgrade the QB Company file on the system:

1. Firstly, launch the fresh edition of QB Desktop on the system & instantly approach the ‘Open or Restore Company’ icon situated inside the ‘File’ menu so that you can later hit the ‘Open a Company File’ option.
2. Just thereafter, choose the company file icon & immediately strike the ‘Open’ button, following which you shall start the update process of the company file by clicking the ‘Update Now’ button.
3. Once the required update process of the company file is finished, you need to hit the ‘Done’ button, after which you can open the updated company file via the QB window.

The procedure given above is authentic & it must be executed in the precise order to tackle the This Company File Needs to Be Updated error message. For additional technical assistance, you need to dial 1.855.738.2784 to contact our QB Professionals Team.

Recommended To Read: How To Resolve QuickBooks Freezes When Opening