QuickBooks Upgrade: Updating QuickBooks to the Latest Edition
The right QuickBooks product of the latest edition can help you in attaining your business’s goals. If you’re a small or medium-sized business owner and planning to switch to this outstanding accounting software, you’re going to automatically enjoy the most up-to-date edition of QuickBooks. If you’re already a user, then you must upgrade your QB version anytime a new feature gets released.
This article will be offering you the basics of performing a QuickBooks Upgrade. You can download the updates directly from the internet. The updates or upgrades of your QuickBooks will help to improve the performance of your software and make it more productive as well as fix a lot of common and complicated issues automatically.
How to Do a QuickBooks Upgrade
QuickBooks is so far the most efficient and effective software when it comes to financial management. The software features yearly updates and it’s, therefore, important for you to update it on time to enjoy the appropriate working experience of the application. If you’re a beginner to this application, you should know that it’s possible to update the QB desktop software either automatically or manually. However, for automatic updates, you must turn on the “Automatic Update” option.
Nevertheless, if you decide to perform Intuit QuickBooks Upgrade manually, it’s highly recommended that do it at least once every month. And if you need more information about this, you can get in touch with the QB Enterprise Support team by phone at the number +1-877-683-3280 anytime 24/7.
Important Points to Remember before QB Upgrading
Upgrading QuickBooks to a new or newer launch (For example from R3P into R5P) usually makes some little changes to your database. The modifications won’t be able to create the info file readable with older versions. But, that’s different from updating to a newer product variant (for example version 2017 to 2018) in which the modifications are important.
Make sure that you’ve QB Desktop Patch
1. Open the QB Desktop and hit the “F2” or “Ctrl + 1” key on your computer’s keyboard
2. Move to the “Product information” screen; verify the QuickBooks current edition and its release
3. You can also press “Ctrl + 1” or “F2”
4. Verify the existing QuickBooks latest release:
- QuickBooks Desktop 2016
- QuickBooks Desktop 2017
- QuickBooks Desktop 2018
- QuickBooks Desktop 2019
- QuickBooks Desktop 2020
How to Upgrade QB Desktop to the Latest Version
There are four methods used to do QB upgrade to the latest release, including:
- Automatic update
- Release download
- Manual update
You can, therefore, choose to download the updates online and, in that case, you need a good internet connection. After you download the updates, all the useful company files will become installed automatically to the appropriate location on your system. Once the downloading is complete, the prompts will show up on the screen automatically.
Option One: Manual Update
Method One: Use Internet in Downloading Updates
- Go to the “Download & Updates” Page
- In the “Select Product” drop-down, choose the “QuickBooks Product”
- In the “Select Version” drop-down, choose the appropriate variant or year
- Choose “Get the Latest Updates” and then hit “Save or Save File” to receive the updates
- After the download is complete, double-click to have the updates setup. You must restart your system once the installation is complete.
Installing updates manually across your system, you’re able to:
- Access your setup file onto your computer from a different computer or even “Copy the setup file” into a flash drive and then into the background of a second computer.
Method Two: Using QuickBooks
- Navigate to the “File” menu and select the “Close Company/Logoff” icon
- Still in the “File” menu, choose the “Exit” tab
- Right-click on the QB icon and select the “Run as Administrator” option
- In the “No Company Open” window, go to the “Help” menu and choose the “Update QuickBooks” option.
- Next, navigate to the “Update Now” option and check the “Reset Update” box
- Select the “Get Updates” tab
- The “Update Complete” dialogue box will show up on the screen, so shutdown the QB.
- Reopen the QB application and if you the install update message then click “Yes”
- After the installation is complete, restart your computer.
Method Three: Ultra-light Patch (ULIP)
The Ultra-light Patch is a feature in the QB desktop where small important repairs can be sent without the requirement of a real release restriction. The method of patch release can go on as is (R releases like 2017 R5). The following steps are Option Two in using the vital repairs. Make sure that “Essential Repairs” is selected before transferring the updates.
Option Two: Automatic Update
Method One: Download and Setup Automatic Updates
- Open QB and move to the “Help” menu and select the “Update QuickBooks” tab
- In the “Update QuickBooks” window, choose the “Update Now” tab
- To delete all the last downloaded updates, put a check the “Reset Update” box
- Select the “Get Updates” icon
- Lastly, restart the QB application
Method Two: Set Auto Download for Future
- Move to the “Help” menu and select the “Update QuickBooks” option
- In the “Update QuickBooks” window, choose the “Option” tab
- Select the “Radio button” for the “Yes” icon to switch on the auto-updates
- Select the “Close” tab
You needed this information to know how to update QuickBooks to the latest version. Hopefully, you can now perform the upgrade like a pro after reading the above steps. If you’ve any questions or concerns regarding Intuit QuickBooks Upgrade, you’re free to ask for assistance from a trained and certified team of professionals. These experts can also help you with other different but related issues such as Quicken Upgrade. Just call them using the number +1-877-683-3280.
When is the Appropriate Time to upgrade your QuickBooks Software?
Many companies have found themselves maintaining the same version of QuickBooks software and everything continues to work just fine. That’s until suddenly when their computer systems crash or are attacked by a virus and their application becomes inaccessible. Because these companies are utilizing such an old edition of the QB software with the usual methods for restoring backups or retrieving data aren’t available and the companies find themselves being forced to undergo an expensive restoration and conversion.
So, it’s important to ensure that you, as a QuickBooks user, keep yourself informed up-to-speed with some signs that show when you need to upgrade QuickBooks 2018 if you’re using the 2018 edition, upgrade QuickBooks 2019 if you’re using the 2019 edition, or upgrade QuickBooks 2020 if you’re using the 2020 edition. So, when is the right time to upgrade your current QuickBooks version to the latest edition?
1. When You Require Features of the Latest Version
Intuit releases a new version of QuickBooks every year. In this yearly upgrade, the company introduces new features. For that reason, it’s important to Upgrade QB 2020 to enjoy the new features the QuickBooks 2021 is offering.
Sometimes, the new features come as a huge saver for your company. For that reason, it’s always a good idea to look and see if the new version of QuickBooks desktop will better satisfy your needs. And if the version does meet your requirements, then it’s time to Upgrade QuickBooks 2020.
2. When you’re two or more years behind in QuickBooks product
It’s possible for you as a user not to upgrade QuickBooks to the latest release even as Intuit releases new editions every year. Since older editions of QB Desktop such as QuickBooks Premier, QuickBooks Pro, and QuickBooks Enterprise didn’t operate on SaaS models and were hosted locally, once one purchased the application, it was theirs to keep and one never required doing the QB upgrade unless they needed to. For that reason, it’s even possible to find companies that are still using a version as old as 2010.
However, technology keeps on moving at a rapid pace. Operating systems and hardware change. That means older versions will struggle in keeping up with a more up-to-date computer system. Also, there are new compliance laws every year. The way in which personal information needs to be handled is also changing constantly. For example, the release of the EMV Pin Pad made us witness a significant hardware change in a span of two years.
Moreover, Intuit usually drops its support for the QuickBooks software after a three-year cycle as per its discontinuation policy. That means that if, for instance, you’re using an older version of the QuickBooks Enterprise, then, your company won’t be able to receive any technical QuickBooks Enterprise Support from Intuit. Eventually, your software is going to lose some of its functions such as third-party features, which might be very important in your business’s operations.
Intuit often advises QuickBooks users whenever their current application is phased out and provides attractive discounts for QuickBooks Upgrade. Once that Intuit QuickBooks upgrade period is over, the users will have to pay the full amount to perform the upgrade and will generally require engaging a conversion professional to help with converting their data because the in-product upgrade functionality won’t work anymore.
For instance, if the user bought QuickBooks 2018, then, they ought to upgrade it before the end of 2020. That will provide the user with the latest features and make sure that they are enjoying continuity of operations. But if you’re now using QuickBooks 2019 version, you may be in a position to get another full year out of this product. Remember, you’ll need to upgrade QuickBooks 2019 at the end of 2021.
3. When you’re changing your Operating Systems
If your business is considering changing the operating system of its computer, then a QuickBooks upgrade or Quicken upgrade will be necessary. That’s especially important if you’re switching from Windows operating system to Mac because Intuit has of late revived QB Desktop for Mac.
However, you could just continue running your old QuickBooks version and access the same edition on your Mac thanks to the QuickBooks Hosting. Nevertheless, you may require weighing the advantages and disadvantages of using local software.
But if you don’t upgrade QB 2020 now, you’ll likely encounter data corruption or file issues. It’s essential that you avoid these problems because your business relies heavily on producing the best numbers for sales and productivity. You can consult the QB Upgrade specialists to get a list of system requirements for all versions even when you want to update QuickBooks 2021 and help you in determining the software that’s most appropriate for you.
4. When your Company is growing
Sometimes, QuickBooks Premier or QuickBooks Pro may require upgrading their QuickBooks Enterprise as the business is growing and the other edition can no longer keep up with the data amount processed within the software. QB Enterprise is able to handle a significant data volume and has more advanced features available to assist in the various operations.
There’s no rule of precisely when you must do the QuickBooks upgrade. For example, there are some professional service companies that perform 1 to 2 large transactions every month, don’t have any inventory, and to them, QB Pro is just fine. However, the following are some signs that you’re should upgrade to the latest version of QuickBooks Enterprise:
- You’re predicting $1M+ of annual gross revenue in the subsequent financial year
- You’re having inventory (particularly if you’re doing any type of make-stock or kitting)
- Your company is processing over 30 transactions per month
- Your company has at least 15 employees
- You’re processing payroll within QB (Some QB Enterprise editions come with payroll. Therefore, it would be considerably cheaper to opt for the all-inclusive package)
- If your Company File size is bigger than 150MB
If you fail to upgrade, then your system might become inefficient in terms of performance, which usually takes place when there’s too much data for processing every day. Get in touch with the QB Enterprise Support if you’ve any questions or concerns.
QuickBooks Upgrade is a must if you want your system to perform optimally. By upgrading your QuickBooks software to the latest version, you’ll be receiving the most recent updates, which means your application won’t like to experience the common errors in QuickBooks and end up hindering your performance. If you need help with the upgrade, the Intuit QuickBooks upgrade team of specialists is there to assist you.