Upgrade QuickBooks Desktop Pro Plus, Premier Plus, or Enterprise in 2024

Each year, QuickBooks rolls out upgraded and new functionalities as the latest version of its accounting software. These updates help to fix bugs present in the older versions and optimize the QuickBooks software performance. They come at no extra cost to you, and when you upgrade your QuickBooks software to the latest release, you will ensure your company’s productivity.

If you want to learn how to upgrade to QuickBooks 2024 latest version so you can have the latest features such as customized payment receipts and access all the product improvements like dispatch of payment statements, then you should read on.

Benefits of Upgrading QuickBooks to the Latest Version

Upgrading to the latest QuickBooks version offers several advantages for businesses:

Improved Efficiency and Productivity

• Time-saving features: New features often streamline tasks, reducing manual effort.
• Enhanced user interface: Modern designs and intuitive navigation improve workflow.
• Faster performance: Updates frequently include performance optimizations.

Enhanced Security

• Protection against threats: Latest versions incorporate security patches and updates to safeguard your financial data.
• Compliance with regulations: Stay up-to-date with industry standards and regulations.

Access to New Features

• Expanded functionality: Benefit from new tools and capabilities to manage your business better.
• Integration with other software: Enjoy seamless integration with popular business applications.
• Improved reporting: Access more comprehensive and informative financial reports.

Better Support

• Access to the latest support resources: Intuit provides updated support for the newest versions.
• Faster troubleshooting: Newer versions often address common issues and bugs.

Future-Proofing Your Business

• Compatibility with operating systems: Ensure your software works with the latest operating systems.
• Staying ahead of competitors: Adopt the latest industry trends and technologies.

By upgrading to the latest QuickBooks version, you can optimize your business operations, protect your financial data, and position your company for future growth.

How to Check Whether Your QuickBooks Desktop is Up to Date or Not

Before performing any upgrade, however, you must check whether your software is updated to the latest QuickBooks version or not.

1. Open your QuickBooks Desktop.
2. Press F2 (or Ctrl+1) to open the Product Information window as shown below.

Image source: Intuit

1. Check your current version and release.
2. Verify the QuickBooks release that is available.

How to Upgrade QuickBooks Desktop 2017, 2018, 2019, 2020, 2021, 2022, 2023 and 2024

There are many ways you can upgrade your QuickBooks Desktop to the latest release. No matter the version of your software, follow the procedure listed below.

First Step: Take a Backup of the Current Version

You must prepare a backup file of the current version you are using before you update your QuickBooks Desktop company file. This way, you can ensure the safety of your data in case there is a technical issue.

Process for creating company backup:

• Open the application’s current version, i.e., QuickBooks 2023
• Log in to the company file with Admin user access.
• Next, select the File menu at the top left of the tab.
• Navigate to the Backup Company option with your cursor.
• Once enter the Backup Company tab, select the Create Local Backup option as illustrated below.

Figure 1.0

• You will see the Create Backup window.
• You will see options to choose where you want to store your company file backup.

• Select the Backup Storage option of your choice and click on the Next button.

For reference, look at the below image:

Figure 1.1

• If you need to make additional changes to your current backup settings Click the Options button within the Create Backup window.
• Next, the application will start preparing your backup. Once the backup gets saved, close the window.

Now, follow the next part to begin Upgrading the QuickBooks company file from 2023 to 2024.

Second Step: Upgrade QuickBooks Desktop 2023 to 2024

When you open your company in the newer version of QuickBooks, i.e. 2024, for the first time, you receive a prompt to upgrade the file to the latest version. 

Please note that your company file will not be operational with the original version of the application after it gets upgraded to the 2024 version. Before you move to upgrade your application, make sure that all users log out of the company that you wish to upgrade to the 2024 version.

To upgrade, take the steps listed below:

• Open the program 2024 version on your Desktop.
• If you do not have a company file open, click on the File menu on the top left corner of the edition and click on the Open or Restore Company button.

Figure 2.0

• Select the Open a company file option. After that, click on the Next button.
• If you have a backup company file (QBB) rather than a company file (QBW), select Restore a backup copy.

Figure 2.1

• Now, click on the Local backup option.
• Next, a window will open, and browse your computer for the company file. 
• Once you find it, click on the file to select it and then click on Open from the window to open the file for upgrading. It has been illustrated below in the image.

Unable to find your company file through the application. Follow the steps:

1. Click on the Start Menu,then go to File Explorer
2. Please search for your company by its name or use the .qbw file extension.

If you still can’t find your company file, make sure that it is not hidden.

To enable the view of hidden files:

1. Use the file menu in File Explorer on the top left. 
2. Click on the Change folder and search options. 
3. A window will open with a tab on the top named View. 
4. Click on the View option, and click on the option that says Show hidden files, folders, and drives, and then click OK.

After selecting the company file, you need to sign in to it as the Admin user.

Figure 2.3

• Click on the Update Now option on the bottom right of the update window to begin upgrading your company file.

Figure 2.4

• Next, the upgrade process will begin and a progress bar will be displayed on the window. This has been illustrated below.

Figure 2.5

• After the update has been completed, you will be prompted with a window after successful completion. 
• Then, click on the Done button to finish the upgrade.

Final Thoughts!

Upgrading QuickBooks Desktop to the latest release (2022) will unlock your access to all the new functionalities such as customized payment receipts, automatic dispatch of payment statements, and much more. You can consider hosting QuickBooks Desktop to accelerate your business growth by effectively streamlining your accounting activities. You are sure to get quick, easy, and global access to the world’s most trusted accounting tool.

FAQs

Should I Uninstall QuickBooks Before Upgrading

It’s best to install the upgrade in a new location rather than overwriting the current version of QuickBooks. To upgrade your current QuickBooks version, users must clean their system before updating their respective software. The cleaning process involves clearing or removing unwanted files and caches, which helps eliminate data corruption.

Can I upgrade to QuickBooks Desktop 2024?

Yes, you can upgrade to QuickBooks Desktop 2024. You’ll need to purchase a new license and install the software. Consider backing up your data before starting the upgrade process.

How much does it cost to upgrade QuickBooks desktop?

The cost to upgrade QuickBooks Desktop varies. It depends on factors like your current version, the new version you’re upgrading to, and whether you need additional licenses or features.

How do I update my QuickBooks desktop?

• Open QuickBooks: Launch the software.
• Access Update Menu: Go to the Help menu and select “Update QuickBooks Desktop.”
• Download Updates: Choose the desired updates and click “Get Updates.”
• Install Updates: Follow on-screen instructions to complete the installation.

Should you update the QuickBooks desktop?

Yes, you should update QuickBooks Desktop. Updates often include critical security patches, performance enhancements, new features, and bug fixes. Outdated software can expose your business to risks and hinder productivity.

Is Upgrading QuickBooks free? How Much Does It Cost to Upgrade QuickBooks

Yes, upgrading QuickBooks is free. The minute the update arrives, users are sent a notification justifying the same. When you open QuickBooks, you must click on “Update” and follow the prompts to install the upgrades. 

How Long Does a QuickBooks Upgrade Take

It only takes a few minutes for a QuickBooks upgrade to take place. In simple words, it can take 25-30 minutes for the upgrade to occur, only if the update takes place without any errors or malfunction.