Downgrade QuickBooks Company File to a Previous Version.

A QuickBooks company file is created in QuickBooks to help users store the company’s financial information. It is generally the initial step in starting up the accounting for a specific business in QuickBooks. Sometimes as it happens you would like to downgrade your QuickBooks company file to the earlier version because you would like to reinstate some previous changes. 

For your information purposes, once the downgrade quickbooks company file to the older version it cannot be opened in earlier versions of QuickBooks. So, it is always prudent to keep the backup file that you used while using or migrating from an older version. You can always restore the backup of your company file for earlier versions.

Way of Downgrading QuickBooks Company File to a Previous Version.

QuickBooks while creating the new company file (.qbw) from the previous backup company file (.qbb). You need to follow the below steps to restore your backup company file.

1.  First, you need to click on “File” and then choose “Open or Restore Company”.
2. In this step choose, restore a backup copy> Next, then click on Local Backup> Next again.
3. In this step, you need to browse and select the backup company file from your computer with an extension (.qbb).
4. In this step, create a different folder to save your new company file to avoid overwriting the existing data. After creating a separate folder and saving the company file, click on “Open”.
5. In the last step, you need to click on save, make sure that you read, and take action accordingly on all the overwriting-related messages. 
6. The above steps will restore or downgrade your company backup file. 

Also, read this:  How to Convert QuickBooks File into an Older Version?

You can also create portable company files that are compact and can be easily shared and moved from one location to another, but it isn’t like a full backup as it does not contain fixed asset manager files, loan manager, statement writer, etc. They are very handy when you do not need a full backup.

To create the portable company file, you need to follow the below steps:

• You need to log in as an admin in QuickBooks.
• In this step choose the option of File> create copy> portable company file and then click on “Next”.
• Choose a unique name for your portable company file and save it in a different location on your computer from the regular company file.
• At last, when you are done click on “Save” and “OK”.

The portable company file thus created will have an extension (.qbm), and can be sent over email or put on an external device like USB.

When you do not need a full backup of company files for downgrading purposes, you can use portable company files and downgrade by using the same steps as mentioned earlier.

How to Convert QuickBooks File to Older Version?

This is because different QuickBooks versions utilize a dissimilar process of compressing backup files.

• Find the file that needs to be restored.  Ideally, the file may be on a hard disk, USB, or external hard drive. Insert that into the computer.
• Start QuickBooks.
• Drag the File menu down and then select the option “ Open or Restore Company”
• Choose the “ Restore a backup copy” option and then select “ Next”
• Click “Local backup” and select “ Next”
• Select the specific backup file (.QBB) that is required to be restored from the particular “ Open Backup Copy” window. Additionally, you can also opt for the “ Look in” feature to find out your file.
• Select “ Open” and click “ Next” (When it comes to restoring a backup file from a removable media, it is imperative to inform QuickBooks where the restored file will be saved.  This can be done by selecting the “Save in” arrow and locating the right folder to save the data.)
• If required, select the Save in drop-down arrow and go to the location where you want to restore the specific backup file.
• Choose the backup file, select Save, and reply to any messages QuickBooks might show.

What are the Impacts of Downgrading Your QuickBooks Company File?

In case your previous QuickBooks Subscription was not costly, and you wish to downgrade the present version to a previous one, it is possible to get it back. But, some of the improved features and data may be lost in the process:

Here are the types of features and data you can miss when downloading:

1. Recurring transactions: When using the downgraded QuickBooks version, it is not possible to use recurring transactions which is one of the key features.
2. Inventory tracking: Do not forget that you will not be able to monitor your inventories in the downgraded version.
3. Third-party apps: With the help of the third-party integrated application, several benefits can be reaped and several tasks can be automated too. However, such benefits cannot be experienced when downgrading the company file or the version of QuickBooks.
4. Multi-Currency: This feature assists you in developing your business with foreign clients while getting paid easily and getting money in home currencies. However, the feature will not be present when using the previous QuickBooks version.

Note: While opening a company file in an older version, some of the transaction types may get erased. Hence, before converting to a previous version, make sure you do not forget the important points mentioned above and then begin with the downgrading.

In case you have any further queries, you can dial a toll-free number at smbaccountants.com and the QB proficient technical support team will help you.