Many users complain about the ‘this company file needs to be updated’ message popping up on their screen while running their company file after updating the QB application. The company files are not updated when you update the QuickBooks application. The error message pop-up because you are running the same company file version in the upgraded application. You need to manually update your company file when this error message pop-up on your screen. There are two different types of error messages associated with this issue:
QuickBooks needs to update your company file.
If you plan to use this company file in multi-user mode after the update, other users will still be able to use the updated file even if they are not using the latest QuickBooks release.
This company file needs to be updated. Please ask your QuickBooks Administrator to update the file.
Wondering what to do after running into QuickBooks warning ‘this company file needs to be updated’ message? Leave the hassle and reach out to an expert at +1-(855)-955-1942. They will tell you what you need to do.
Things to Consider Before Updating the QuickBooks Company File
There are a few things that one should keep in mind to ensure that the QuickBooks company file is updated without any trouble:
Login as QuickBooks Administrator
You need to have full admin rights and permission to update your company file. Ensure that you are logged in from an administrator profile in the QBD application.
Don’t Interrupt On-Going Download Process
Updating a QuickBooks Company file can take a while, and you should not interrupt the update process even if it is taking longer than you expected. The time that the company file will take depends on the size of your company file and the speed of your internet. A stable internet connection is important to update your company file.
Don’t Update the Company File over Network
It is advised not to update the company file on a different computer present in the network. In a situation where the file is on another computer, copy it to your local machine, update it, and then copy it back to the other computer.
Troubleshooting To Follow When ‘this company file needs to be updated’ Appear
Users need to update their company file when they witness QuickBooks warning ‘this company file needs to be updated’ on their screen. The step by step process that you need to follow is:
Step 1: Prepare Your Company File for Upgrade
You need to ensure that your company file is not compromised and make it ready for the update process. These are the steps you need to follow:-
- Open the original version of the QuickBooks application and then run your company file.
- Press F2, and the Product Information window will open up.
- Go to the File Information section and note down the location where you save your company file.
- Run the Rebuild Tool for your company file. It will prepare the file for the upgrade.
NOTE: Move your company file to a local hard drive if you keep your file on a server. You can move it back after upgrading the file.
Step 2: Upgrade the Company File
QuickBooks desktop needs to update your company file to ensure that the error message doesn’t pop up again. These are the steps you need to follow:-
- Log out all the users from your company file.
- Run the updated version of the QuickBooks Desktop application.
- Click on Open or Restore Company if no company file is opened or Go to the File menu and then click on Open or Restore Company.
- Tap on Open a company file, then Next. If you use a backup company file (QBB) rather than a company file (QBW), click on Restore a backup copy and then Local Backup.
- Go through the list and select your company file. Then tap on Open.
NOTE: Go to File Explorer and search for your company file by its name or having the .qbw extension if you can’t find your company file in the above steps. If it is still not visible, check if it is hidden.
- Sign in to your company file from an admin profile.
- QuickBooks automatically generates a backup of your company file in the current version before upgrading it. To save the backup in a specific location, Click on Change this default location.
- Now click on Update Now and wait for the upgrade to begin.
- Tap on Done after completing the update process.
So now we hope you know what should be done when a QuickBooks error message ‘this company file needs to be updated’ pop-up on your screen. If your error is still not resolved after following the above mentioned steps, reach out to an expert at QuickBooks Data Service Solutions Helpline number +1-(855)-955-1942 and they can provide you with further assistance.