QuickBooks is an advanced accounting software with effective tools and continuous technical support of 24*7. It has a vast reach within small to middle-sized businesses, thanks to its never-ending innovation and a simple user interface. However, even in such a perfect automate software, issues like QuickBooks Update Company File error message in QuickBooks can wreak havoc in a user’s hectic schedule. After updating their software, QB users also need to upgrade the company file to work with the updated software. You can only upgrade one company file at a time. More on the company file update process is discussed in the blog given below.
On a different note, if you feel like that you may require external assistance to carry out the This Company File Needs To Be Updated QuickBooks 2020 error by yourself, call on the helpline number 855-526-5749 and get immediate support.
Causes of the QuickBooks Warning: Your Company File needs to be Updated
There are many reasons behind the “This company file needs to be updated” issue in QuickBooks 2020. Some of them are mentioned below.
- One of the major reasons is a corrupt or damaged QuickBooks company file.
- The user is employing wrong methods to open particular file types or opening a different file with the same name as the company file.
- The file is already in use by another user on single-user mode.
- Incorrect QuickBooks version to open files.
- The user is not logged in as Windows admin.
After checking with the possible reasons behind the problem, let’s find some solutions to fix it.
What are the solutions to fix “This company file needs to be updated” error?
Below are mentioned the steps to fix the QuickBooks Desktop error message “Your company file needs to be updated” and Update QuickBooks Company File to the Current Version.
Solution- 1: Update the QuickBooks Company File Manually
In order to update the company file, follow the steps mentioned below.
- Go to the File menu and select the Open or Restore a company option.
- Click on the Open Company File option and select Next.
- Browse the data file and click on Open.
- Click on the Update Now option once it appears and follow the on-screen instructions to complete the update process.
- Copy the backup and place it in the company file folder.
If the error still comes up, follow the next solution.
Solution- 2: Use the QuickBooks File Doctor Utility
If your company file is corrupted, run the file doctor utility to fix the damaged by following the steps mentioned below.
- Exit from QuickBooks and download the tool hub from the Intuit website.
- Install the tool hub and run it.
- Click on Company File Issues and choose Run QuickBooks File Doctor.
- Select the company fie from the drop-down menu and run a scan.
Once done, restart your computer system.
At this point, we would like to conclude our blog. We hope that the written content will help you to understand the “QuickBooks Update Company File” error message in a better way and answer all of your queries all the while. However, if you have more questions, call on the toll-free number 855-526-5749 and get the best assistance on it anytime.
