Upgrade QuickBooks from 2018 to the latest Version 2024 (All Versions)

Running an outdated QuickBooks version can expose your business to security vulnerabilities, compatibility issues, and limited functionality. Since Intuit has discontinued support for QuickBooks 2018, you no longer receive critical security updates, payroll services, product enhancements, or technical support. Therefore, considering an upgrade from QuickBooks 2018 to the latest release is crucial to improve system security, enhance performance, and ensure compatibility with the latest Windows versions.

However, the upgrade process isn’t always simple. In case your company file is damaged, your system doesn’t meet the requirements, or the installation isn’t configured correctly, you can encounter issues such as Error 6123, Error 6177, Error H202, Error 1603, company file conversion failures, or installation and activation errors.

In this guide, we’ll discuss whether you can upgrade directly from QuickBooks 2018, why upgrading is important, the steps to prepare, how to perform a QuickBooks version upgrade, and more.

Can You Upgrade Directly from QuickBooks 2018?

Yes, in most cases, you can upgrade directly from QuickBooks Desktop 2018 to a supported newer QuickBooks Desktop version. If the company file has compatibility or data integrity issues, additional troubleshooting or an intermediate upgrade may be required.

The upgrade process is available for all major QuickBooks Desktop editions, including:

• QuickBooks Pro 2018
• QuickBooks Premier 2018
• QuickBooks Enterprise 2018
• QuickBooks Accountant 2018

Note: The company file upgrade is a one-way process. After conversion, you cannot downgrade the file or use it with QuickBooks 2018. Always create a verified backup before starting the upgrade.

Why Should You Upgrade QuickBooks 2018 to the Latest Release 2024?

In case you’re still using QuickBooks Desktop 2018, now is the right time to upgrade to the latest release to unlock a wealth of benefits. Here are the key reasons to upgrade QuickBooks 2018 to the latest release 2024 (all versions).

1. Restore Access to Connected Services

Since QuickBooks 2018 is no longer supported, many connected services become unavailable over time. Upgrading allows eligible users with active subscriptions to access supported connected services, including online banking, payroll, merchant services, and technical support.

2. Strengthen Security and Data Protection

The latest QuickBooks releases include updated security patches, stronger encryption standards, and vulnerability fixes that help protect your financial data from evolving cyber threats.

3. Boost Performance and System Compatibility

When you perform a QuickBooks version upgrade, it runs more efficiently on Windows 10 and Windows 11, delivers faster performance, improves multi-user functionality, and reduces the risk of crashes, lag, and company file corruption.

4. Automate Routine Accounting Tasks

The latest release introduces productivity features such as automated receipt capture through the QuickBooks mobile app, improved bank transaction matching rules, and enhanced reporting tools that reduce manual work and improve accuracy.

5. Stay Current with Product Updates

Upgrading gives you access to ongoing feature enhancements, bug fixes, payroll updates, and compatibility improvements, which support your business as technology and accounting requirements evolve.

Note: Depending on your QuickBooks edition and subscription, newer releases include additional automation and productivity features.

QuickBooks 2018 Upgrade Requirements and Preparation Checklist

Before you upgrade and migrate QuickBooks data, prepare your system and company file to minimize the risk of installation failures, company file conversion errors, or data loss. Here are the prerequisites to upgrade QuickBooks from 2018 to the latest version 2024.

Parameter	Details
Update, Verify, and Rebuild Your Company File	Install the latest maintenance release for QuickBooks 2018, then run Rebuild Data followed by Verify Data to repair and validate your company file before upgrading.
Create a Secure Backup	Create a full backup (.QBB) of your company file and store it on an external drive or secure cloud storage. Since upgraded company files cannot be downgraded, a backup allows you to restore your original data if needed.
Review System Requirements	Use a supported Windows operating system (Windows 10 or Windows 11), a 2.4 GHz or faster processor, at least 8 GB of RAM (16 GB recommended for better performance), and at least 2.5 GB of free disk space for installation. However, verify that your computer meets the system requirements for the QuickBooks Desktop version you plan to install.
Keep License and Product Information Ready	Gather your QuickBooks license number, product number, and Intuit account credentials before installing and activating the latest version.
Prepare Your Network Environment	If you use QuickBooks in multi-user mode, verify that shared folders are accessible and temporarily disable antivirus or firewall software only if it interferes with the installation or company file conversion process.
Check Third-Party Application Compatibility	Verify that integrated applications, such as CRM, payroll, inventory, or payment solutions, support the latest QuickBooks version to prevent integration issues after the upgrade.

Note: Verify that your computer meets the published system requirements for the QuickBooks Desktop version you plan to install.

What are the Steps to Upgrade QuickBooks 2018 to the Latest Release?

After completing the pre-upgrade checklist, you can upgrade your old QuickBooks Desktop version to the latest release. Here is the proven, complete QuickBooks version upgrade process to move from QuickBooks 2018 to the latest version 2024.

Step 1: Check Your Current QuickBooks Version

Before you begin, verify the version and edition of QuickBooks currently installed on your computer. Follow these steps:

• Open QuickBooks Desktop 2018.
• Press F2 or Ctrl + 1 to open the Product Information window.
• Note your Product Name, Version, and Current Release.
• Compare the release information with the latest QuickBooks Desktop version available from Intuit.

Step 2: Download and Install the Latest QuickBooks Desktop Version

Download the latest QuickBooks Desktop edition that matches your existing license, such as Pro, Premier, Enterprise, or Accountant. To install the software:

• Sign in to Windows using an Administrator account.
• Download the installer from your Intuit account or the official QuickBooks Desktop download source.
• Right-click the installer and select Run as Administrator.
• Enter your license number and product number when prompted.
• Follow the on-screen instructions to complete the installation.
• Restart your computer if QuickBooks requests it.

Note: Install the same edition or a higher edition that supports your existing company file.

Step 3: Switch to Single-user Mode and Create a Backup

Before upgrading your company file, switch QuickBooks to Single-user Mode and create a fresh backup. Here are the steps to switch to single-user mode and create a backup.

• Open QuickBooks 2018.
• Go to File > Switch to Single-user Mode.
• Select File > Back Up Company > Create Local Backup.
• Choose Local Backup and click Next.
• Select a secure backup location, such as an external drive or cloud storage.
• Click Save it now to complete the backup.

Important: Once QuickBooks upgrades your company file, you can’t open it in QuickBooks 2018. Keep the backup in a secure location for future reference.

Step 4: Open and Upgrade the Company File

After installing the latest QuickBooks Desktop version, open your existing company file to begin the upgrade. Follow these steps to upgrade the company file in QuickBooks Desktop.

• Launch the latest QuickBooks Desktop.
• Select Open or Restore an Existing Company.
• Browse to your .QBW company file.
• Sign in using the QuickBooks Administrator account.
• When prompted, select Update Now or Yes to convert the company file. Simply follow the on-screen prompts to update the company file.
• Wait until QuickBooks completes the upgrade.

Depending on the size of your company file, the conversion process can take several minutes. Avoid closing QuickBooks or restarting your computer until the upgrade finishes.

Step 5: Verify the Company File After the Upgrade

Once QuickBooks finishes converting the company file, verify that your accounting data transferred successfully. Review the following items:

• Customer and vendor records
• Chart of Accounts
• Payroll information
• Inventory data
• Banking transactions
• Custom reports
• Memorized transactions

You can also press F2 to open the Product Information window and confirm that you’re running the latest QuickBooks release.

Step 6: Install the Latest Maintenance Release

Installing the latest QuickBooks Desktop version doesn’t always include the newest maintenance release. To install maintenance updates:

• Open QuickBooks Desktop.
• Go to Help > Update QuickBooks Desktop.
• Select the Update Now tab.
• (Optional) Select Reset Update to clear previously downloaded update files.
• Click Get Updates.
• Restart QuickBooks after the download completes.
• Install the updates when prompted and restart your computer.

Tip: Enable automatic updates to receive future maintenance releases without manually checking for updates.

Step 7: Update Payroll (If Applicable)

If you use QuickBooks Desktop Payroll, download the latest payroll tax table after completing the QuickBooks version upgrade. To update payroll:

• Go to Employees > Get Payroll Updates.
• Select Download Entire Update.
• Click Update and wait for the process to finish.
• Verify that the latest payroll tax table has been installed successfully.

Step 8: Configure Multi-user Access (Optional)

In case multiple users access the same company file over a network, update your network configuration after the upgrade. Follow these steps to configure multi-user access.

• Open QuickBooks Tool Hub.
• Select Network Issues.
• Launch QuickBooks Database Server Manager.
• Click Scan Folders and add the folder where your company file is stored.
• Run the scan and allow the Database Server Manager to update the network configuration.
• Open the upgraded company file from each workstation to verify multi-user access.

Common QuickBooks 2018 Upgrade Issues and How to Fix Them

Even with proper preparation, you can encounter issues when you upgrade from QuickBooks 2018 to the latest release of the QuickBooks Desktop version. Here are the common issues related to QuickBooks version upgrades and solutions to resolve them.

Problems	Recommended Solution
QuickBooks Error 6123	Run QuickBooks Tool Hub and QuickBooks File Doctor. Restore a recent backup if the issue persists.
QuickBooks Error 6177	Move the company file to a local drive, complete the upgrade, and then move it back if needed.
QuickBooks Error H202	Verify hosting settings, run QuickBooks Database Server Manager, and check Windows Firewall permissions.
“This Company File Needs to Be Updated” Message	Sign in as the Admin user, back up the company file, and allow QuickBooks to complete the update.
Company File Conversion Fails	Run Verify Data and Rebuild Data, then retry the company file conversion.
Installation or Activation Errors	Reinstall QuickBooks using a fresh installer and verify your license information.
QuickBooks Runs Slowly After the Upgrade	Install the latest QuickBooks and Windows updates, and verify your system meets the software requirements.
Payroll or Connected Services Stop Working	Update payroll and reconnect online banking or other integrated services as needed.
Multi-user Mode Doesn’t Work	Update all workstations to the same QuickBooks version and verify network access to the company file.

How to Migrate QuickBooks Data After Upgrading QuickBooks to the Latest Version?

In case you’re upgrading QuickBooks on the same computer, you can open your existing company file directly in the latest QuickBooks version. On the other hand, if you’re moving to a new computer, follow the steps below to migrate your QuickBooks data safely.

Step 1: Copy Your Company File to the New Computer (If Applicable)

Copy your QuickBooks data from the old system to the computer running the latest QuickBooks Desktop version. You can migrate the following file types:

• .QBW (Company File)
• .QBB (Backup File)
• .QBM (Portable Company File)

If applicable, also transfer supporting files, such as custom templates, letters, and attached documents. Use any of the following methods:

• USB flash drive or external hard drive
• Secure cloud storage
• Shared network folder

Confirm that all files have been copied successfully before opening them in QuickBooks.

Step 2: Open or Restore the Company File

Launch the latest QuickBooks Desktop and import your company data. Choose the appropriate option based on the file type:

• Select Open or Restore an Existing Company for .QBW files.
• Select Restore a Backup Copy for .QBB files.
• Select Restore a Portable File for .QBM files.

Step 3: Verify the Migrated Data

After the migration is complete, review your company file to ensure all data has transferred correctly. Verify the following:

• Customer and vendor records
• Chart of Accounts
• Payroll and inventory data
• Banking transactions
• Custom reports and templates
• Attached documents (if applicable)
• Multi-user access (if applicable)

Step 4: Reconnect Connected Services

After you migrate QuickBooks data to a new computer or an upgraded version, some connected services require reauthorization. Review and reconnect the following, if applicable:

• Online Banking
• QuickBooks Payroll
• Merchant Services
• Payment gateways
• Third-party applications, such as CRM or inventory management software

Once you’ve verified your company data and restored all required services, your QuickBooks data migration is complete.

What Data is Migrated During a QuickBooks Version Upgrade?

When you upgrade QuickBooks 2018 to the latest release, QuickBooks automatically converts your company data to the new version during the company file conversion process. Here is the data that typically migrates to the latest QuickBooks Desktop version.

Data Type	What Gets Migrated
Company Information	Business name, address, tax details, fiscal year, and company preferences.
Chart of Accounts	All accounts, account balances, and account settings.
Customer and Vendor Data	Customer and vendor profiles, contact details, payment terms, and account balances.
Financial Transactions	Invoices, bills, checks, sales receipts, purchase orders, estimates, journal entries, deposits, and payment history.
Payroll Records	Employee information, payroll items, payroll history, and tax records associated with your company file.
Inventory Data	Inventory items, quantities, costs, assemblies, and valuation information.
Reports and Customizations	Memorized reports, customized forms, templates, item lists, classes, and other company preferences.

Note: QuickBooks migrates the data stored in your company file automatically. However, services such as Online Banking, QuickBooks Payroll, and third-party integrations require reauthorization after the upgrade.

What Happens to Your Company File After Upgrading QuickBooks?

After you upgrade QuickBooks 2018 to the latest release, QuickBooks updates your company file to work with the latest Desktop version. Here’s what happens to your company files after a QuickBooks version upgrade.

Aspect	What Happens After the Upgrade
Version Compatibility	The upgraded company file opens only in the same or a newer QuickBooks Desktop version. Earlier versions, including QuickBooks 2018, can’t open the converted file.
Administrator Approval	Only a QuickBooks Administrator can complete the company file upgrade and authorize the conversion.
User Access	QuickBooks can ask standard users to reset their passwords the first time they sign in after the upgrade.
Third-Party Integrations	Some integrated applications require updates or reauthorization before they work with the latest QuickBooks version.
Multi-user Access	In multi-user environments, update all workstations to the same QuickBooks Desktop version before opening the upgraded company file. This helps prevent compatibility and network-related errors.

Note: Keep the backup you created before upgrading. If you need to access your data in QuickBooks 2018, restore the backup instead of using the upgraded company file.

Best Practices After You Upgrade QuickBooks 2018 to the Latest Version

• After you migrate QuickBooks data, follow these best practices to maintain data integrity, improve security, and ensure optimal software performance. Here are the best practices to follow after you upgrade QuickBooks 2018 to the latest version.
• Compare key financial reports, such as the Profit and Loss and Balance Sheet, with pre-upgrade reports to confirm your financial data remains accurate.
• Review customized invoices, purchase orders, templates, and logos to ensure they display correctly after the upgrade.
• Reconcile your bank and credit card accounts to verify that account balances and recent transactions match your financial records.
• Explore the latest QuickBooks features, automation tools, and reporting capabilities to improve productivity and streamline daily accounting tasks. Monitor QuickBooks performance during the first few weeks and investigate any unexpected slowdowns or application errors promptly.
• Keep a record of your QuickBooks version, release number, installation date, and license details to simplify future upgrades and troubleshooting.

Conclusion

You can upgrade QuickBooks 2018 to the latest version 2024 by preparing your company file, installing the latest QuickBooks Desktop release, converting your company file, migrating your data if you’re moving to a new system, and verifying your records after the upgrade. Following these steps helps ensure a smooth QuickBooks version upgrade while preserving your financial data and minimizing compatibility issues.

Frequently Asked Questions