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QuickBooks allows users to upgrade or switch to a different version of the product. However, they run into This Company File Needs to be Updated error message while running the old company files in the upgraded version. If this message stops you from accessing your QB data file, continue reading the blog to learn why the issue occurs and useful techniques to eliminate it.

Get this issue quickly rectified by our QB support team available at +1-855-738-2784 for your assistance.

Causes of QuickBooks company file needs to be updated error message

You might sometimes run into this error when you access your financial data in the company file or try an accounting task involving the file. The primary reasons for this company file error to come up in QBDT are discussed below-

• You recently upgraded or switched your QB version but the company file isn’t updated.
  

• QuickBooks cannot run the company file due to invalid characters or symbols in its name, which makes it inaccessible to the software.
  

• Your company file might be damaged due to data corruption in the HDD, which leads to issues when QB processes the file.
  

Read More: How do I fix a QuickBooks company file not found?

Ways to remove QuickBooks update company error message

You need to update and repair your company file to ensure it runs smoothly on the upgraded version of QuickBooks. The actions you need to eliminate the data file error are discussed below in detail-

Solution 1- Download the latest updates for your QBDT data file

You’ll run into this company file error message while accessing your financial data or updating the data in the file. You might probably face this situation if you try running an outdated company file on an upgraded QB version. You can easily counter the error message by updating the company file and opening it again on your QB. Use these steps for the data file update-

• Open your QuickBooks and sign out of all the user accounts.
  

• Click the software’s File menu and select Open or Restore company.
  

• Tap the Open a company file option and hit Next (Select Restore a backup file if you face this error while restoring a backup file).
  

• Select the data file with a single click and tap Open.
  

• Fill in the details of your QB admin account and sign in to your company file again.
  

• Tap the Update Now option and wait until the file is updated.
  

If the error message reappears after updating the company file, move to the next solution.

Solution 2- Mend your damaged QBDT company file before running it

This QB error message can also come up if the software fails to access the company file due to its damaged format. You need to fix the company file using the QB tool hub to avoid facing the error again. Refer to these steps-

• Launch the QuickBooks Tool hub program on your PC and select the Company file issues menu at the top.
  

• Click the Quick Fix My File option and wait until the tool repairs your data file.
  

• Run QuickBooks and try to open the company file after it is completely repaired.
  

Conclusion

This blog explains why This Company File Needs to be Updated error message stops you from working on your financial data. The methods needed to tackle the issue are also included in the blog, and we suggest you apply them to open the company file without problems.

Speak to our QB support team at +1-855-738-2784 if the error persists after using the solutions.

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