Fix QuickBooks “This company file needs to be updated. Please ask your quickbooks administrator to update the file”

After updating your QuickBooks you can face issues while opening the older version of the company file. If you’re opening a company file on a new QuickBooks then you can get the error “the company file needs to be updated”. In this case, you need to update the company file manually to work properly with your QuickBooks. In This post, we’ll explain how to fix QuickBooks “this company file need to be updated. Please ask your QuickBooks Administrator to update the file” on your device.

Thing to Remember Before Troubleshooting “This company file needs to be updated”

To prevent this error, the company file needs to be updated in QuickBooks, keeping some of the following factors in mind, which are given below.

• Make sure you have admin rights when you’re updating the QuickBooks file.

While resolving this issue, you need to have admin access. If you are in multi-user mode, then you need to use the admin login for fixing this issue. During the QuickBooks error “this company file needs to be updated” you need the admin login for accessing the company file after the update. So to fix this issue log out of the QuickBooks login to use the admin account. Now you’ll be able to open the company file without facing any issues.

• Don’t interfere while updating process is running          

Sometimes QuickBooks can take time when updating your company file. It can take more time than it usually does. During this, if you interfere then you can get errors like “company file needs to be updated”. So it is better to not interfere when the company file is updating. Once the file is updated you’ll be able to use the company file on your new QuickBooks program without any issues.

• Don’t update company files over a network.

If you’re getting the error message “this company file needs to be updated” while opening a company file, then updating your company file over the network is not a good idea. To avoid any issues, move your company file to another computer and then update the company file. After updating the company file move the file to your desktop. Now you’ll be able to open the company file on your QuickBooks without any issue.

Create a backup of the QuickBooks company files

After updating the QuickBooks company file, you won’t be able to open an older version of the company file on QuickBooks. To avoid this, you need to create a backup of that file before updating it to the latest version.

1. Login to QuickBooks in single-user mode.
2. Now click on back up the company under the file menu.
3. Now click on create a local backup.
4. Select the location where you want your backup.
5. Click on the ok then next button.
6. Click on the save now button and click finish.

A backup of your QuickBooks files will be created in the folder/location which you selected.

Fix Quickbooks “This company file needs to updated” Error

After logging into QuickBooks with an admin user you can update the company file. To manually update your company file follow the steps below.

1. Open QuickBooks.
2. From the menu bar click on the file option.
3. Click on the open or restore company option.
4. Click on the open company file option now and click on next.
5. Select the file you want to update then click on open.
6. Now check the box after reading the updated company file for newer version information.
7. Click on the update now button.
8. Now follow the on-screen instruction to update your company file.

After updating your company file you will be able to open the file on your updated QuickBooks.

Updated Company Files Not Opening 

If the company file is still not opening after updating, then follow the steps below to repair your QuickBooks program.

1. Press the start button on your keyboard.
2. Now type and open the control panel.
3. Under program click on uninstall a program.
4. Locate and click on QuickBooks.
5. Now click on uninstall/change.
6. Click on the repair.

After repairing the QuickBooks program, check if the “this company file needs to be updated” issue is resolved.

More helpful guides:

Fix quickbooks can’t find company file

Fix Quickbooks Restore Failed Fixed (Can’t Remove Logfile, Invalid Format)

How to fix quickbooks won’t open

Fix Quickbooks keeps crashing

Quickbooks says the company file is already open