You bought a new version of QuickBooks, and you’re about to install it on your computer. But you are a little worried about how to transfer your data from the old version to your new version.No worries. It should be automatic (but see caveats below).You install and register your new version of QuickBooks. Then you click on Open Existing Company. Navigate to your company file and open it. QuickBooks will see that your company file exists in an earlier version and needs updating.It will ask you if you’re sure you want to upgrade your file to the new version. The process is irreversible, so QuickBooks gets your confirmation before proceeding.Once you confirm, QuickBooks will update your company file to your new version. It might take a few minutes if your file is a large one.That’s it! Your company file has been revised to work with your new version of QuickBooks.CAVEATS:

• Make sure that you make a backup of your data before opening it in the new version. Probably the easiest way to do that is to do so in your old version of QuickBooks, before you install the new version. Just to make things perfectly clear, include in the name of your backup file something like Pre-converted
• If you are making a jump of many versions (e.g. coming from QuickBooks 2006 to QuickBooks 2014), the chances are greater that the file will have trouble converting.
• For large files, be patient with the process. It might seem as thought QuickBooks is freezing up, but it might be just “thinking about it”.

Do you have any experience to share about transferring your company data into your new version of QuickBooks?