After installing a new version of QuickBooks, you need to update your company data file by opening it in the new version. This process updates company files from any older version of QuickBooks to the newer one.
QuickBooks automatically backs up your data file before updating it, in case you need to revert to the older version. You can always restore the backup to your old version of QuickBooks if necessary. Or, if you need to restart the update, you can restore the backup to your new version of QuickBooks.
Be sure the company data file is stored on the same computer you are using to update it. You might need to copy the file from another computer, and then copy it back after you finish updating it.
If you never created other users and roles in QuickBooks, you are automatically the Admin user. If you see the message, "The company file needs to be updated. Please ask your QuickBooks administrator to update the file," you are not signed in to your data file as the Admin user.
You cannot convert QuickBooks Enterprise data to QuickBooks Simple Start, Pro, or Premier. You can covert a Simple Start, Pro or Premier file to QuickBooks Enterprise, but the company file will not open in Simple Start, Pro or Premier after you convert it.
Updating your company data file can take a considerable amount of time, depending upon the size of the file. You may want to start at then of the day and let it run overnight, or you may want to start on Friday afternoon and let it run over the weekend.
Windows messages that QuickBooks is not responding are normal and are to be ignored. If you abort the update before it is finished, your data file will be corrupted and you will have to restore the backup you made at the beginning of the update.
Note: If you use Add-on financial features such as Loan Manager, Business Planner, Cash Flow Projector, etc. use Backup and Restore to convert the Company file to new version of QuickBooks.
Important: For best results,refer to update QuickBooks to the latest release.
If you cannot find your data file in its original location, and if it is not in the specified folder, search your hard drive for *.qbw files and try to find it that way. Be sure to include hidden files and folders in your search criteria.
If you cannot locate your Add-on files see Restore other files not included with a restored company file backup
If this solution does not resolve the issue, you can read discussions and post messages and questions relating to your issue on the Intuit QuickBooks Community site for free, or you can contact a technical support agent for additional guidance. Fees may apply.