Update QuickBooks Desktop to 2024 Latest with Company File: A Complete Guide

quickbooks2023

3 min readNov 3, 2023

Updating QuickBooks Desktop to the latest version each year is essential to take advantage of new features, improvements, and fixes. However, the update process can be nerve-wracking, especially when updating with an existing company file. This guide will walk you through updating QuickBooks Desktop to the 2024 release while keeping your company file intact.

Back-Up Your Company File

The first step before updating is to back up your QuickBooks company file. This provides a copy you can revert to if anything goes wrong during the update.

To back up the File:

Open QuickBooks and go to File> Back Up Company > Create Local Backup.
Choose a location to save the copy, such as an external hard drive or cloud storage.
Name the backup file with the date so it’s easy to identify later.
Click Save.

QuickBooks will now create a QBB file of your company file. Store this backup in a safe location in case you need it later.

Download the 2024 Release

With your company file backed up, you can download the latest 2024 version of QuickBooks Desktop:

Go to QuickBooks.Intuit.com and sign into your account.
From the menu, click Support > Update QuickBooks Desktop.
Download the 2024 version that matches your current QuickBooks edition.

The installer file will download to your computer. Be sure to download the correct bit version (32 or 64-bit) to match your existing QuickBooks.

Install the 2024 Release

Once downloaded, you can now install the 2024 version on your computer:

Locate the installer file you downloaded and double-click to launch.
Accept the license agreement, then click Next.
Select an install location on your hard drive with enough space.
Click Next, then Install, to proceed with the installation.

This will install the 2024 release of QuickBooks Desktop on your computer.

Open and Update Your Company File

With QuickBooks 2024 now installed, you can open your company file and update it to the new release:

Open QuickBooks 2024 and select Open or restore an existing company.
Browse and select your existing QBB file. Click Next.
QuickBooks will verify the File and then prompt you to back up again. Click Start Update.
The file update process will begin. Let it complete without interrupting.

Once finished, your company file will be updated to the new 2024 release!

Verify Everything Looks Correct

With the update complete, take some time to verify everything converted properly thoroughly:

Review your Chart of Accounts to make sure all accounts are still there.
Spot-check transactions to confirm balances are carried over correctly.
Open reports like Profit & Loss and Balance Sheet for critical dates to compare to historical.
Check configured settings and preferences.

If you find any issues, revert to your backup file and contact QuickBooks Support for troubleshooting.

Update Additional Computers (If Applicable)

If you use QuickBooks Desktop on multiple computers, update QuickBooks on any secondary computers. Install the QuickBooks 2024 release on the additional computers, then follow the same steps above to open and update your company file so everything stays in sync.

That covers the complete process of updating to the latest version of QuickBooks Desktop while preserving your company file! Be sure to back up your File regularly in the future. Following this guide each year will make sure your QuickBooks stays up-to-date.