Most of the QuickBooks users are still not aware of when they should upgrade to a newer version of the software. To clear your doubts, let’s start with the differences between QuickBooks updates and upgrades. QuickBooks Updates will not provide any new functionality or features. Updates only fix program problems discovered in your current version of QuickBooks and Intuit regularly releases its latest update. Upgrades are when you purchase an entirely new version of the QuickBooks software. Moreover, upgrading to the latest QuickBooks Desktop version will unlock your access to all the new functionalities that are available on the new version. Continue reading this post to know about how to upgrade QuickBooks software and all reliable information associated with it.
When Should you Upgrade your QuickBooks Software Version?
If your version is older than 3 years, you should consider upgrading. The main reasons are that Intuit will stop providing assistance and will deactivate capabilities such as credit card processing, desktop payroll, online backup, and online banking. If you discover that your current version lacks the capabilities you require for your expanding company requirements.
Choose the Right Version for Fulfill your Business Needs
QuickBooks software comes in several different versions, each with its own set of capabilities. First, let’s look at QuickBooks Pro. Pro is the most basic desktop level, supporting up to three users at a time. QuickBooks Premier is the next level of desktop software. Premier contains all of the benefits of Pro plus additional capabilities for up to 5 users at the same time. Premier has features that are specialized to the sector (contractors, healthcare, manufacturing, non-profit, professional services, and retail editions). In QuickBooks Enterprise, this is the highest level. This edition is designed for companies that require up to 30 users, extensive reporting, and advanced inventory with bin position, bar code scanning, serial number, or lot tracking across different warehouses.
Prerequisites Before Upgrading your QuickBooks Software
Before you begin upgrading the company file, make a file backup of the current version to ensure that your data is safe in the event of a technical problem.
Make a Backup of the Current Version:-
- To begin, open the current version of QuickBooks
- After that, you log in to your company file as an Admin user
- at the top of the tab, select the File menu
- With your cursor, move to the Backup Company option
- Select the “Create Local Backup” option once you’ve entered the backup company tab
- A Create Backup window will appear here
- After that, you’ll be given options on where to save your company file backup
- Click the Options button within the Create Backup box if you need to make any more adjustments to your current backup settings
- The application will then begin creating your backup
- Close the window once the backup has been saved.
System Requirements to Upgrade QuickBooks Software
Below is the list of the system requirements that you should consider for the latest version of QuickBooks:
Database Servers Windows Natively Installed
- Windows 10, all editions including 64-bit natively installed
- MS Windows 8.1, all editions including 64-bit natively installed
- Windows Server 2012, Standard and Essentials
- Microsoft Windows Server 2012 R2, Standard and Essentials
- Windows Server 2016, Standard and Essentials
- Microsoft Windows Server 2019, Standard and Essentials
Linux Requirements (When Making use of QuickBooks Enterprise Solutions Database Server only Installation)
- OpenSuse Leap 15.1, 15.2
- Fedora 31, 32
- Red Hat Enterprise 8 (RHEL 8)
Important Note: Windows 10 S mode isn’t supported.
Hardware and Operating System Requirements
- QuickBooks Desktop 2022 needs a 64-bit Windows Operating System and it is not compatible with 32-bit OS.
- Minimum 8GB of RAM for 64-bit.
- Minimum 2.4 GHz processor.
- Server RAM minimum 8GB RAM for 1-5 Users, 12GB for 10 Users, 16GB for 15 Users, and 20+GB for 20 Users.
- 5GB of disk space for extra data files.
- A 4X DVD-ROM drive is needed for physical CD installations.
- Display optimized for 1280 x 1024 screen resolution or advanced with up to 2 extended monitors.
It’s worth noting that QuickBooks desktop 2022 need internet access and Internet Explorer 11 to run (32-bit)
How to Upgrade QuickBooks Software: A Complete Procedure
The most important recommendation is to make a backup of your data file and store it in several locations so that it does not influence your data and there is no risk of data loss. Furthermore, upgrading entails a few processes, including upgrading QuickBooks to the most recent version and then upgrading the company file as well.
Steps to Upgrade QuickBooks Desktop to the Most Latest Released Version
- In the first step of upgrading, download QuickBooks latest version i.e., QuickBooks 2022 version
- Next step is to save it in a safe place
- Install it after you’ve finished the download process
- To complete the installation, go to the same section where you downloaded the file and save it
- After that, look for the .exe file and double-click it
- Follow the on-screen instructions to accomplish the installation procedure
- After you’ve finished installing the software, you must now activate it
- Then, upgrade to a newer version of QuickBooks and merge the data
- You can also save a backup to the cloud or take a backup offline
- It might come in handy later on when it comes time to upgrade
- After you’ve completed the updating processes, you should also upgrade the company file.
Steps to Upgrade your Company File
As a result, once you upgrade QuickBooks to the latest version, you must also upgrade the company file. The following are the steps involved:
- The first step is to make sure you’re in multi-user mode, which only allows you to access one computer at a time
- After that, select the “Open and Restore the Company File” from the File menu
- Now, go to the same backup copy and click on it
- To continue the process, choose and click the Continue option
- Select the company file and click on it to open it
- After that, log in as an Administrator and click the Upgrade button
- To do so, follow the instructions on the screen
- When the upgrade procedure is finished, click the “Done” button.
Hopefully, you are well versed with the information that you require for how to upgrade QuickBooks software. Make sure to perform the steps required to make sure to perform the steps required to make your system compatible for the QuickBooks latest version. On the contrary, if you have any doubt remaining then connect with our QuickBooks Helpdesk Team, they will guide you with the right process.