It is important for all of us to keep ourselves updated and upgrade our skills from time to time so this is the case with the QuickBooks desktop. The QuickBooks Desktop software, when upgraded to the latest version, enables us to use advanced features but at the same time, it creates issues related to the compatibility of the company file.
You won’t be able to use and open the Company file with an upgraded version of QuickBooks. Your window screen will appear a message like This Company QuickBooks file must be updated.
In that case, you need to upgrade your company file manually within the latest QuickBooks version so as to make it compatible to use. In this article, you will be guided thoroughly about QuickBooks products, QuickBooks versions and QuickBooks edition and company file compatibility associated with them.
- Products of QuickBooks
QuickBooks Desktop Pro, Premier and Enterprise solutions are all three kinds of products in QuickBooks.
- QuickBooks Version
It is a version changed with up-gradation of features every year. For example, QuickBooks Desktop enterprise 2020 will be different from its latest version launched in 2021.
- QuickBooks Edition
This edition of QuickBooks varies within the merchandise of different business.
- Accounting work
- Manufacturing & wholesale business
- Non-Profit Organization
- Retail business
- Service Providers & Contractors
When we upgrade QuickBooks to their latest products, version or edition, there are some limitations to the company file. Below we are explaining the compatibility of the company file with each of QuickBooks products, version and edition separately
Compatibility of Company File with QuickBooks Products
- You can open the premier Company file in Pro and Pro company files in Premier without making any changes to the data of the Company file. However, you may take back up of each before starting opening files in other products.
- Pro and Premier Company files can be upgraded to QuickBooks Enterprise Solutions but Enterprise Solutions file cannot be opened in Pro and Premier files.
Read more about: “How to Download QuickBooks Tool Hub”
Limitations for compatibility with QuickBooks Version
- Here are some limitations that you cannot open those company files that were created in another region of QuickBooks Desktop Version. Let us give you an example. Suppose in QuickBooks Canada Version, you are trying to open a company file that was created in QuickBooks US Version then you will get a message like “This file is not created in Canada Version of QuickBooks”.
- Once you upgrade your QuickBooks Desktop Version to the latest version, you shall not be able to use the previous or old version of it. In other words, once you move ahead you cannot move back. Therefore the files that were created in the old version can now be compatible to open in the latest version upon the up-gradation of Company files and are not compatible for viewing in the old version.
- An exception implies when you work on Accountant Copy of QuickBooks Desktop Accountant.
- You will be automatically asked to upgrade your company file to the new version when you upgrade your QuickBooks desktop product. Most probably QuickBooks desktop automatically converts your old company file data to the new company file for example 2019 to 2020.
You can open a file created in one QuickBooks edition to another edition without making any changes to the data. For instance, the file created in the manufacturing and wholesale business of QuickBooks edition can be open in the accounting edition of QuickBooks.
Ensure the following points to maintain Compatibility
- You must ensure that company files when transferred between different locations and computers should be run on the same QuickBooks Desktop Version and release.
- A folder should be created with the name of Pre conversion Backup so as to avoid overwriting of files.
- A different application solution can be used to enter the transactions from the new version to the old version of QuickBooks Desktop or you can enter the transactions manually from the new version to the old backup of the QuickBooks Desktop version in case you are no longer satisfied with the upgraded QuickBooks Desktop Version. There is no option of exporting or merging the transactions from the new version to the old version. However, there will be no reason that you will be unsatisfied with the new version.
- Backup of the old version of QuickBooks Desktop can be taken by reinstalling it to a different location and folder in case you want to upgrade the version of QuickBooks desktop.
For more information, you make take our expert advice. Our professional team will be happy to serve all your queries related to the compatibility issue of the Company file between QuickBooks Version.