How do I update my QuickBooks company file?

 

3 Tips to Save Time and Money When Updating Your Company File After Upgrading QuickBooks


Software updates are important. You may not realize it but, if you’ve been using QuickBooks for a while, there could be a lot of changes that would affect your company file. If you don’t update your company file after upgrading QuickBooks, the information from your old version won’t match up with the new one and errors will keep occurring. In this article we will present some of the most common issues caused by failing to update after an upgrade and how to fix them.

Some of the most common issues caused by failing to update

There are two common problems that can occur after you upgrade QuickBooks to your latest version. The first is that new information is not properly imported. The second is that you may encounter a lot of incorrect information. This is an easy problem to solve. For this issue to work, you must do the following: Go to the QuickBooks website. Click on the top menu in the left sidebar and click the “Online Services” button on the left side of the screen. Click “QuickBooks Update” from the drop down list. After clicking “Update” on the QuickBooks online site, you should see the option for “Include ALL previous versions.” Click that option to include the older versions. Next, you need to go to the “My Account” tab in QuickBooks and select your various bookkeeping software.


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Missing or incorrect transactions

The day after a QuickBooks upgrade, you should go back into your company file to make sure the correct transactions are entered. Make sure that you entered the correct customer and vendor information, amount paid to each, and who the total of each transaction is to. If you are missing transactions, double-check that you entered the appropriate amounts and fees and that the details are correct. When a customer payment is made, you may be giving out extra cash that you need to record as income. Also, if a vendor charges for shipping costs and this is not accounted for then you’re going to see some unpleasant surprises when you go to file your income taxes. Old totals When you come to audit your company file after an upgrade, you’ll often find that totals may be incorrect. Don’t be worried.

Data can't be saved

If you’ve upgraded your QuickBooks account after acquiring a brand new or updated software you might notice that the software will not save your data. If this happens to you, you will have to manually export it all again to your old account so that you can make a backup of it. Overdue data If you want to upgrade your account but don’t update QuickBooks first, you will be missing out on certain information, such as, for example, inventory items and expenses, you’ll need to input those into your old account. However, you should not be changing the start date of your account. If you change it and make a mistake, you might lose months’ worth of data that could have been easily exported in the old version.

Unable to open company file

The first issue you may notice is that you can’t open the old file. But the problem isn’t that it doesn’t exist – it’s that the name of the file has changed. If the file you want to open isn’t labeled in the right way, you’ll need to update it with the old version. To do this, click on File> Open File> New File… > Choose old version. Then choose the path for the old file. Having to close an old file When you upgrade to QuickBooks Online version 12, you may have to close an old file you were using previously. To do this, go to File> Open File…

Open old file. If you need to close a file for the old version you need to select it. Accessing an old document This can happen when you are on the same page as the old file and you click on another document that has a slightly different name.


How to fix these issues

1. Problem: Logs Only Include the Address Line When updating your QuickBooks you should also update the Automated Payroll Template which includes the address line. However, in some cases, you may only see the address line if you are filing a transaction for the new version of QuickBooks. Solution: Select “File > Open Recent”. Select all of the transactions you made within the last two weeks. 2. Problem: Errors on Receipts and Reports When updating the status field on an expense report, if you select the Date Item as “unable to find”, the error “The sum field is empty” can appear. Solution: To fix this error, select the date column and then select the Item line, and then click “Copy to clipboard”. The field must be either empty or with the “The sum field is empty” error. 3.

Missing or incorrect transactions

The change you made with the installation of the upgrade of QuickBooks may not be recorded in your company file. This means that if you have any expenses that you did not record in your company file, these will not be added to your employee expense report. Unfortunately, this happens quite often and affects the information found on your employee expense report. The reason for the discrepancy is that you were not prompt with updating the company file after you upgraded. In most cases you will not have to make any changes to your Company file in order to correct this problem. You will simply have to add the transactions from the old version to the new one. This can be achieved using the navigation window on the left of the dashboard and selecting a link to download the upgrade files.

Data can't be saved

If you’re updating to a new version of QuickBooks but it doesn’t upgrade your company file, then you can’t save any of the data you’ve created in it. If you don’t save the data, then you’ll lose all the information you’ve created, or the data you have is not compatible with the new version. You can either access your company file in your old version, or you can save the file to another location. Data can't be imported If you’ve been using QuickBooks Online for a while, then the file from the old version won’t import into the new version. If this happens, then you can access your file in the old version or save the file to another location. Data can't be deleted Sometimes the file won’t delete completely when you upgrade to a new version of QuickBooks.

Conclusion

Use these tips to save time and money when updating your company file.

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