How To Upgrade QuickBooks Desktop to the Latest Release (2024)

Each year, QuickBooks rolls out upgraded and new functionalities as a 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 2022 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.

In this guide, we will talk about three major things:

1. How upgrading QuickBooks Benefits you
2. Check Whether your QuickBooks Desktop is Up to Date or Not
3. How to Upgrade to QuickBooks 2022 latest version.

Benefits of Upgrading QuickBooks to the Latest Version

There are four immediate benefits your company will get when you upgrade to QuickBooks 2022.

Here they are:

1. Upgrading your QuickBooks to the latest version will ensure error-free user knowledge.
2. It guarantees better data security.
3. You can track the status of your invoice in real time.
4. It helps fix bugs and other security issues.

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

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

Here are a few detailed steps you can take to do that:

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, and 2021 to 2022

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

It is very important that you 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 2021
• 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 entered 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.

Note: A backup is stored online and locally on the PC.

• 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 backup gets saved, close the window.

Now, follow the next part to begin Upgrading the QuickBooks company file from 2021 to 2022.

Second Step: Upgrade QuickBooks Desktop 2021 to 2022

Upgrading QuickBooks Accounting Company File from 2021 to 2022

When you open your company in the newer version of QuickBooks, i.e. 2022, 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 2022 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 2022 version.

To upgrade, take the steps listed below:

• Open the program 2022version 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.

Figure 2.2

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

• 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 for accelerating 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.

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.