Upgrade QuickBooks 2020 to 2024

Being a QuickBooks user, you're always looking for ways to make your software more effective and user-friendly. To make this happen, you'll need to upgrade your QuickBooks Desktop's older version to a new version. This will make sure you always have the most up-to-date features and tools that you might be lacking in your earlier version. In the below write-up, we are going to discuss the facts to Upgrade QuickBooks 2020 to 2024.

If one wants to upgrade the QB 2020 version to 2024. There's no need to be concerned about it any longer! The QuickBooks 2024 upgrade is already launched and can be found on the Intuit official website. The latest QuickBooks Desktop 2024 version is a subscription-based product offering powerful new features, and better collaboration between accountants and clients. Apart from that, it will also ensure the latest security patches and 3rd party operating system support. To explore easy and quick steps to upgrade your QuickBooks 2020 version to the 2024 version, simply read out the below write-up. 

Also Read: Convert QuickBooks File into an Older Version

Things to be Done Before Upgrading your QuickBooks 2020 to 2024 Version 

Before you move to the upgrade process, you should first save a copy of your company files. This will act as a backup, on occasion if any technical issues arise during or after the upgrade. You can avoid losing data, progress, files, and more.

Here are the steps involved in creating your company’s backup files: 

• The very first, open your QuickBooks software
• Next, log in with Admin access to the company’s files
• Now, navigate to the toolbar which is at the top part of your screen, and access the File menu 
• Locate the "Backup company" option in the newly opened File menu
• To create a local backup, go to the Back-Up Company menu and select "Create Local Backup"
• You can change the backup settings in the new window by choosing between an online backup and a local backup
• When you're happy with your settings, click "Next”
• Finally, you should wait for the backup procedure to complete.

Steps to Upgrade QuickBooks 2020 to 2024 Version 

Here are some simple methods to upgrade to the latest version, however the only recommendation is to do so in the order listed:

• In the first step of the upgrade, download the QuickBooks 2024 version
• Save it now in a safe/secure location that you prefer 
• After you've finished downloading, you should install it
• To complete the installation, go back to the section where you stored the downloaded file
• After that, look for and double-click the downloaded .exe file
• After the installation is complete, follow the on-screen instructions
• After the software has been successfully installed, activate it
• After that, upgrade QuickBooks and integrate your company data into a newer version
• You can also store a backup in the cloud or keep it offline
• It may later assist you in upgrading.

Related: Upgrade QuickBooks 2021 to 2024

Preparations to do Before Upgrading Your QuickBooks Company File

The preparation to upgrade the company file manually is required to be done when the file won’t upgrade automatically.

To upgrade your company files manually by following the steps suggested below: 

• Firstly, you have to run the QB Desktop as an admin on the original version you are using before the upgrade.
• After that, go to the top left side of the QuickBooks window and then select the File menu option. 
• Choose the option “Open or Restore file” from the drop-down menu.
• You have to choose and open the file to upgrade it to the latest upgraded software.
• When the file opens up you have to press the F2 key from your keyboard. 
• Then the window of product information opens up in your application. 
• Note down the file location where it is saved into your system.
• You have to verify the data of the company file by running the Rebuild Tool. 
• Finally, the file is prepared for the upgrade.  

Steps to Upgrade your QuickBooks Company file 

As a result, once you've updated QuickBooks to the most recent version, you'll need to update the company file as well.

The procedure entailed the following:

• The first step is to make sure you're in multi-user mode, which allows you to access many computers at once
• Then select "Open and Restore the Company File" from the File menu
• Now, go back to the backup copy you made before and click on the same 
• To continue the process, choose and click on the tab Continue
• Open the company file by selecting it and clicking the open button
• Log in as an Administrator and then select the Upgrade option
• Follow the on-screen instructions to do so
• Click the Done button when the upgrade procedure is finished.

Read This: How to Convert QuickBooks Enterprise to Pro (Desktop)

New Expected features come with 2024 Version of QuickBooks Desktop 

QuickBooks Desktop for Windows is getting a new look. When it comes to the latest version, it's all about automation which will assist you to boost your business productivity. The alluring improvements in the QuickBooks 2024 version are not hidden, as they are pretty impressive. The following are the modifications to the version 2024 lineup:

1. Subscription-based product lineup: Only Pro Plus and Premier Plus subscriptions will be available for our Pro and Premier products. This approach allows us to provide more innovative, value-added, and productivity-enhancing solutions that better suit the demands of your customers.
2. Plus benefits/features: This year's Desktop subscriptions contain several innovations that are designed to assist you and your clients in executing accounting activities faster and more efficiently than ever before. 

The following are some of the new features for the QuickBooks 2024 version:

• With a faster, more reliable (64-bit) QuickBooks, you can complete accounting activities up to 38% faster.
• QuickBooks makes it easier to schedule and pay expenses. Use the funding source you desire, and provide it to your vendors in the digital or physical format they prefer.
• QuickBooks can automate bill inputs using the QuickBooks Desktop Mobile App or an email address, saving you time. All you have to do now is import and review.
• Directly submitting documents to transactions via the QuickBooks Desktop mobile app which speeds up the process.
• By emailing customizable bill payment stubs to your vendors, you can keep your communications professional and consistent.
• You can choose the proper recipients from a list of client or vendor contacts to send emails more rapidly.
• Integrate your e-commerce platforms with QuickBooks to manage your online sales and inventory in one place.

Conclusion!

Upgrading QuickBooks 2020 to 2024 will give your business a higher competitive advantage. Compared to others who are using older versions, you have a more efficient accounting system with this QuickBooks 2024 upgrade. The above-suggested steps will help make your process easy and simple. The only suggestion is to carry out the upgrade process in the given sequence. 

Frequently Asked Questions

Q 1: How do I upgrade my QuickBooks Desktop with a subscription?

Ans: When a new version of QuickBooks is released, a notification will appear when you open the program. Upgrading is simple to execute with the help of below steps:

• Select the “Upgrade Now” option when you're ready
• If you want to keep your existing QuickBooks, choose the “Keep old version on my computer”
• After that, choose “Let's Go”
• The updated version of QuickBooks is downloaded, installed, and activated for you by QuickBooks (It keeps your company file up to date)
• Select Open QuickBooks when the upgrade is finished.

Note: It's important to keep in mind that the upgrading can take a while. It is determined by the speed of your internet connection and the size of your company files.

Q 2: What Do QuickBooks 2024 Version Modifications mean for me and my clients?

Ans: You and your clients have several options for continuing to benefit from QuickBooks' 2024 many features:

• At any time, you can upgrade to QuickBooks Desktop Pro Plus or Premier Plus.
• To unlock more power and cutting-edge tools, check out QuickBooks Enterprise as an excellent option for growing businesses.
• Customers who want more collaboration and freedom can use QuickBooks Online/Online Advanced, which are cloud-based choices.
• The data of your clients will be immediately migrated in a matter of minutes. 

Q 3: Will you continue to offer a migration policy to customers who have recently purchased a product and want to upgrade to the latest version?

Ans: Because there is no 2024 version of a similar license, there is no requirement for a migration policy because one-time purchase licenses are no longer available. Customers who want to return their merchandise and switch to a 2024 subscription can still do so with a 60-day money-back guarantee. It recommends a Pro Plus, Premier Plus, or Enterprise subscription for continuous access to the latest QuickBooks Desktop versions. These products have a similar appearance and feel to what you're used to, but they come with enhanced benefits and security for your business, as well as access to our most recent versions when they're available.