A Complete Guide to Update Your QuickBooks desktop to the latest version
Are you using an outdated QuickBooks software can lead to certain glitches? A proper QuickBooks product of latest version makes the accounting and bookkeeping process smooth and easy. If you are a small or mid-sized business owner and switching to this innovative accounting software, you’ll automatically get the most updated version of QuickBooks. In case you are already a user, you must update QuickBooks Desktop version to the latest release whenever a new service or feature is released.
Intuit the developer of QuickBooks releases latest QuickBooks desktop update after every set time. New updates roll in with new features and functionalities, update to the current features and also some fixes to the bugs. Thus, it is always suggested to update QuickBooks to 2021. There are certain steps that are involved in updating, which we will be discussing later in this article. Thus, to know more make sure to continue scrolling through the article. Or consult our experts using our toll-free number and let them help you with the process.
Perks of updating QuickBooks desktop version
Updating QuickBooks desktop is often confused with upgrading the version of the software. Well, Intuit release updates for its various versions once a year and updating to the latest release offers tons of benefits which include:
- This allows the user to enjoy better security of the data
- And furthermore, ensures error-free user knowledge
- Another perk of updating the software is that it resolves difficulties to some common security loops and bugs
- The update brings in real-time invoice status tracking, improved data file, etc.
What comes in with the QuickBooks desktop latest update?
Currently, the latest version available is the QuickBooks desktop 2023 release. This update has a lot of new features and functionalities to offer. Some of the most compelling features are listed below:
- Advanced user management feature- This feature allows managing the user roles and permissions according to the requirement. It further allows the admin to permit particular users to perform a particular activity.
- RFA enhancement- This new feature will now allow users to send requests to QuickBooks for the second admin.
- Bug fixes- Other than the features, the user gets quick fixes to the bugs by simply updating the software. Issues like data level permission error when the user is unable to create transactions for unpermitted customers from batch enter transactions, or when the report filter for (>=1) or (=) shows incorrect, can be fixed by simply updating the software. Moreover, this software version fixes the issue that is seen when a vendor groups with a credit balance greater than 0, and shows incorrect results.
- Tax 1099 NEC and MISC- This is an advanced feature where the QuickBooks software supports the 1099 MISC and 1099 NEC and to print and E-filing. This feature permits third-party applications to use the software developer kit for e-filing.
- Inventory aging report – Another feature that can be seen is the inventory aging report which will provide information related to the value, quality, age, and acquisition of the stocks. The user can ensure the details of the stock product using this feature.
- Improvements in online banking – Here comes another feature that will let the users save the customization of columns and create rules for both running money-out transactions and money-in transactions. The user can simply assign a customer in QuickBooks job to their expenses in the banking transactions table.
Current release numbers for each version of QuickBooks Desktop:
- QuickBooks 2023 R3_103
- QuickBooks 2022 R5_157
- QuickBooks 2021 R10_52
- QuickBooks 2020 R15_52
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How to check your QuickBooks desktop is up-to-date or not?
The user should first check which version is being updated to the latest release. This can be done using the steps below:
- The very first step is to open QuickBooks desktop
- After that press F2 and Ctrl + 1 for opening the product information window
- Also check the current version and release
- The last step is to verify the available QuickBooks release
How to update QuickBooks Desktop?
You can download the QuickBooks 2021 upgrade from the internet using multiple methods. Make sure that your internet is fast and connection is good. Here are your options:
- Automatic QuickBooks Update Method (default setting)
- On-Demand Update Method
- Release Download
- Manual QuickBooks Update
After the updates are downloaded, QB updates itself starts installing all the imperative files to the appropriate location and folders on your computer. You receive a notification to install the update, whenever you restart your QuickBooks the next time. You may also have to close QB and restart it to allow updates to take effect. In case you use QuickBooks in multi-user mode, it’s mandatory to install the update on all the computers.
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1. Automatic QuickBooks Update Method
This method for installing QuickBooks update is quite simple. QuickBooks itself find out the newest QuickBooks version from the Intuit server. The QB update are then downloaded automatically when you are not working or otherwise using the internet. It happens due to a default setting in the accounting software that enables it to automatically download updates from the server of Intuit. However, you have the choice to disable the automatic update if you wish not to update QuickBooks.
How you can enable or disable the Automatic Update Option:
- Open QuickBooks and go to the “Help menu“.
- Click on “Update QuickBooks” and wait for Update QuickBooks window to open.
- Click on the “Options” tab.
- Choose “Yes” to enable Automatic Update Method or “No” to disable the Automatic Update Method.(Even after you disable the Automatic Update option, you will keep receiving messages asking if you wish to use the Update Service. These messages are just reminder messages and don’t mean that an update is required or available.)
- Click “Save” and Close.
If the above option doesn’t work and you are not able to download the update, you can move to the next method, i.e., “Immediate Update Method.”
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2. Immediate Update Method
This method enables you to download QB update to your computer immediately from the Intuit server. Also, it’s not mandatory for you to keep the QuickBooks software open while downloading the updates. This method can be used at any time and help you download the updates immediately even if Automatic Update is on. Please make sure that you check for updates at least once every month.
How you can check if any update is available and install them:
- Open QuickBooks, go to the “Help menu” and click on “Update QuickBooks“.
- Click on the “Update Now” tab.
- Select the updates you wish to download and click “Get Updates“. You can find out more about the update in the Updates column. Tap on the “Maintenance Releases” link and a new page will show up with details of the “changes/improvements” in the update.
- Close and restart QuickBooks software and a window will appear asking if you want to install the update now or later. When you find the message, click Install Now (or Yes) to install the update.
- Restart your computer after the installation is complete.
Important: It’s imperative to reinstall every applicable update from the earliest to the latest release date. If you don’t do this and reinstall QuickBooks, you may find issues in opening your company file. The company file may also get damaged and not open at all.
3. Release Download
If you have trouble with update feature or you don’t wish to install updates through the update feature, you can opt to download and install available updates. You must make use of the update feature to install updates for QuickBooks. Also, you should update all copies if you use multiple copies of QuickBooks. If you don’t do that, you may encounter issues while opening your company file or the company file may also get damaged and not open at all.
QuickBooks Pro and QuickBooks Premier multi-user mode: here is how you can download updates
If your company requires you to use QB Pro or Premier in multi-user mode, you shall install the updates on all the computers. Connect all computers to the Internet and download and install the updates. You can also download QuickBooks desktop and update on one system on your network and then share it.
For sharing the updates all users should follow the given process:
- Open the shared QuickBooks company file.
- Go to the “Help menu” and click on “Update QuickBooks“.
- Select “Options“.
- Click “Yes” for Share Download option.
- Click on “Save“.
The above-mentioned steps will allow you to share the downloaded updates to all computers. Please note that the updates by default get downloaded to the location of your company file once you enable the share option. If not, you can find the updates through the directory or folder in which the copy of QuickBooks software is installed.
You can then install new released updates for the company file. Also remember that once you update your company file, you may access that through earlier releases of QuickBooks software.
How you can upgrade to new QuickBooks Desktop
- Click on your “latest version of QuickBooks Desktop“.
- Open “file menu” and select open or “restore the company“.
- Click on “Company file” and then “Next“.
- Click on the “data file” and Open it.
If Move Company File window pops up, follow the given instructions
- Read the content in the “Update Company file for New version.” Check the box to signify you agree and understand and then click “Update Now”.
- Follow the provided instructions to make a backup of the files.
- Once your company file is updated, open the newer version of QuickBooks. Select “Yes” once you receive the prompt “Do you want to continue?”
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4. Manual update for QuickBooks
- Firstly close your company file and close QuickBooks desktop.
- Give a single right-click on the QuickBooks Desktop icon as shown on your screen and Click on “Run as administrator“.
- While on the “No Company Open” screen, navigate to “Help menu” and then choose “Update for QuickBooks“.
- Go to “Option” tab and choose “mark all” option.
- Select “Save” option now.
- Go to “Update now” tab and then mark the “Reset Update box“.
- Now choose the “get update” button here.
- Once the Update Complete message appears, you need to close the QuickBooks software.
- Open again your QuickBooks Desktop, if you get the message to “install update” in your computer screen.
- Hit a click on “Yes” option.
- Once the installation process complete, restart your computer.
Important: If you have a active payroll subscription, then download the latest payroll tax table to process payroll in QuickBooks Desktop.
5. Ultralight Patch (ULIP) – Not mandatory
This is a characteristic in QuickBooks, where minor but essential repairs can be sent without any release limitations. Make sure that the patch release method can continue as it is. Also, ensure that the essential repairs option is opted before transferring the updates.
- The very first step is to download the latest release and later move all to the company files and QuickBooks
- Once done with that, move to the windows start menu and also look for the desktop
- Right click and choose run as admin
- On the no company open screen, click on help menu
- After that click on update QuickBooks
- Also click on mark all and later select save on the options tab
- Hit a click on the update now tab and also click on reset update checkbox
- The last step is to click on get updates
Steps to Update QuickBooks Desktop for MAC to Latest Release
Now that you know the steps to successfully update QuickBooks for Windows, here are the steps for Mac users. The user can simply check the existing version by opening the QuickBooks desktop for Mac and then pressing the Command + 1 keys and this will open up the version and release.
- The user will first have to hover over the drop-down menu, followed by clicking and selecting the Check for QuickBooks updates.
- Now, in case there are new versions available, then make sure to click on Install and update.
- The user might get an alert for selecting Install and relaunch.
- Now, QuickBooks for Mac will automatically launch.
- In order to perform a manual update, the user will have to uninstall the older one first and then reinstall the newer one
- Once done with that navigate to the QuickBooks product updates to reinstall the latest version
- Followed by selecting the desktop version and then download the installer file to the PC
- After that, double click the downloaded file and then drag the QuickBooks desktop icon to the applications folder
- And this would update the software for you
Latest release numbers for each version of QuickBooks Desktop for Mac
The below stated are the latest release versions in QuickBooks Desktop for MAC.
- QuickBooks Mac Plus 2023 R1
- QuickBooks Mac Plus 2022 R7
- QuickBooks Mac 2021 R10
- QuickBooks Mac 2020 R14
The processes explained in this article shall enable you to update your QuickBooks desktop to latest release. And we hope that with the new updates and features you are able to make the most of QB Accounting software and meet your business goals.