You can get issues with company file compatibility between QuickBooks versions when you upgrade your QuickBooks Desktop application. When you upgrade your QuickBooks version, your company file does not update automatically, and gives an error message on your screen that states, “This QuickBooks file needs to be updated.” In this case, you need to update your QuickBooks company file manually. In this post, we will discuss the company file compatibility between QuickBooks versions when you upgrade your QuickBooks application.
Not sure how to use an old company file with a new version of the QuickBooks? Don’t hesitate to give us a call on our helpline number 1.800.579.9430 for swift technical assistance
Important Terms You Need to Understand
Before we further discuss the company file compatibility between QuickBooks versions, you need to understand the difference between the below-given terms:
QB Products: QuickBooks Desktop Pro, Premier, or Enterprise Solutions.
QB Versions: Products designated by a year. For instance, QuickBooks Desktop Premier 2019 is a different version from QuickBooks Premier 2020.
QB Editions: Differentiation within the product (Premier or Enterprise Solution) for various businesses:
- General Business
- Accountant
- Non-Profit
- Manufacturing & Wholesale
- Professional services
- Retail
- Contractor
Company File Compatibility with QuickBooks Desktop When Upgrading
When you upgrade your QuickBooks product, version, or edition, you may not be able to open your company file due to the below-given limitations:
Company file compatibility on upgrading a QB product:
When you upgrade a QuickBooks product, it will affect the company file compatibility between QuickBooks versions in the below-given manner:
- You can open the Premier company file in Pro and vice versa without needing to change the data in the company file.
- It is possible to upgrade the Pro and Premier Company files to Enterprise Solutions (ES), but you cannot open Enterprise Solution files in Pro or Premier.
Company file compatibility on upgrading a QB version:
When you upgrade a QuickBooks version to others, it will affect the company file compatibility between QuickBooks versions in the below-stated way:
- A QuickBooks company file of one region of the QuickBooks Desktop version can’t be opened in another region. For example, if you try to open a file created in Canada version, and you are trying to open it in the US version, it will give a message that states, “This file was not created with a US version of QuickBooks.”
- You can upgrade your company file to a newer version in QuickBooks. However, it is not possible to open an upgraded file in the older version of the application. An Accountant’s copy of the company file in QuickBooks Desktop Accountant is an exception to this rule.
- If you try to open a company file in the newer version, QuickBooks gives you the warning: this company file needs to be updated. Usually, a new version of the QuickBooks updates and convert your company file, such as from 2019 to 2020. However, if it won’t, you need to contact our QuickBooks expert’s team.
Company file compatibility on upgrading a QB edition:
When you upgrade a QuickBooks edition to others, it will affect the company file compatibility between QuickBooks versions. You may not be able to open a file created in one edition in other edition without modifying the company file data.
Things You Need to Consider Upgrading QuickBooks Versions
Below are some important points that need to be considered before upgrading the QuickBooks versions to ensure the company file compatibility:
- If you want to avoid overwriting files, create a different folder and name it as “Pre-Conversion Backup.”
- If you want to move your company file to a new location or system, make sure that both the systems are running the same version of the QuickBooks application.
Read More: QuickBooks For Mac VS Online | An Intelligible Comparison
Get Expert Assistance!
Reading this post can help if you are getting the message, “QuickBooks file needs to be updated due to compatibility issues”. If you have any doubt and need help from QB professionals, give us a call on our helpline number 1.800.579.9430. On connecting, you can get all your queries resolved related to the company file compatibility between QuickBooks versions.