quickbooks small business accounting software
Upgrading from QuickBooks 2006, 2005 or 2004:
You'll Need to Make Some Changes to Your Software
Although it may take a little time to upgrade from QuickBooks 2006, 2005 or 2004 to the latest version of QuickBooks, it's well worth the effort. This page explains everything you need to do - once you've done it, you'll have a more efficient, simpler, accurate version of QuickBooks.
You'll get access to lots of useful new features too - like the Company Snapshot, VAT eFiling and improved multicurrency support. See the new features
Make Sure You Upgrade to the Right Edition
The following features are now only available in QuickBooks Premier:
- Creating back orders or sales orders
- Buying in one unit and selling in another (e.g. buy by the crate, sell by the can)
- Setting fixed foreign sales prices
What Do I Need to Upgrade?
- A copy of the latest version of QuickBooks: You can purchase the pack by calling us on 020 - 3742774 / 3744660 / 3744418 / 020-3503585.
- The date of your last VAT return, if you're registered for VAT: QuickBooks will need this to assess your VAT figures as part of the upgrade.
How Does The Upgrade Work?
To upgrade QuickBooks, just follow the installation instructions that come with your new copy of QuickBooks. The software will detect your existing copy of QuickBooks and walk you through each step of the upgrade process.
As part of the upgrade, you'll need to:
- Choose whether to use QuickBooks in single or multi-user mode: This is so QuickBooks can set up your database correctly.
- Choose where your business is based: This is to ensure QuickBooks is set up right to handle different currencies. Get full instructions here
- Enter the date of your last VAT return: QuickBooks will then check your company file for any VAT problems. Get full instructions here
What to Do After You've Upgraded
Once the upgrade has completed, you may need to perform some extra tasks. These will all appear in the Upgrade Centre window when you first run QuickBooks - use this window to carry out the tasks and track which ones you've done.
1. Adjust Your VAT
The new version of QuickBooks has a new VAT system which ensures every VAT amount gets caught - no matter how or when a transaction is entered. We created this because some businesses were having problems if they entered or modified transactions after filing VAT returns, or didn't enter a VAT code.
During the upgrade, QuickBooks will reassess your last VAT return using the new system. If it finds any discrepancies, you will have a VAT overpayment or underpayment. The Upgrade Centre will help you resolve this.
If you need to double check your figures or speak with your accountant, don't worry - you don't have to deal with VAT discrepancies before you start using QuickBooks. The discrepancy is set aside, so it won't affect future VAT calculations. These will be performed using the new system so they're completely accurate.
During the upgrade, QuickBooks will reassess your last VAT return using the new system. If it finds any discrepancies, you will have a VAT overpayment or underpayment. The Upgrade Centre will help you resolve this.
If you need to double check your figures or speak with your accountant, don't worry - you don't have to deal with VAT discrepancies before you start using QuickBooks. The discrepancy is set aside, so it won't affect future VAT calculations. These will be performed using the new system so they're completely accurate.
2. Recreate Reports and Forms
Due to changes in the way QuickBooks handles them, your customised forms and reports will not carry over to the new version. You will need to recreate them. The Upgrade Centre will help you do this by showing two options:
- Recreate custom form templates
- Identify your memorised reports
You can use these to recreate your templates, either by downloading free custom templates or creating your own from scratch. QuickBooks will show you a list of all the templates you had before, so you can be sure you cover them all.
Read our FAQ about recreating customised forms and reports
3. Set up Multicurrency
If you use the multicurrency features in QuickBooks, you will have two final things to do:
- Check VAT codes are correct. QuickBooks will assign VAT codes to customers and suppliers in other countries. Choose the option in the Upgrade Centre to check these codes are correct More information
- Download exchange rates. QuickBooks can automatically download the latest exchange rates for you. You can do this from the Upgrade Centre in just one click. More information
Once you've taken care of those items, you'll be ready to start using the new version of QuickBooks.
When I convert my company file, what does setting my country do
Updated: May 17, 2010
Article ID: 4622
When you convert your company file to QuickBooks 2010, during the conversion, you are asked to select your home country and home currency. With version 2010, we've enhanced our VAT model to include more countries than before. So, when you convert your company file, these two steps are important to ensure that QuickBooks knows how to set up your VAT preferences and set up multicurrency.
Setting your home country:
Select the country where your business is located. In previous versions, you would have selected Other. You can now select Ireland or South Africa plus many more countries. QuickBooks needs this information to set up your company information.
If you use multicurrency, QuickBooks also sets up the correct default VAT codes (based on your home country selection) for your customers and suppliers in your VAT preferences.
Setting your home currency:
Select the currency of the country where your business resides. If you set up a customised currency and did NOT use the standard 3-letter code as set in the international currency codes list, pick the currency from the list that represents your home country.
When upgrading to 2010 why do I have to provide the date of my last VAT filing period?
Updated: Jun 14, 2010
Article ID: 4623
In QuickBooks 2010, we vastly improved the way QuickBooks tracks your VAT. Because of these improvements, when you convert your older company file to QuickBooks 2010, it'll ask you when you filed your last VAT return.
It is very important that you enter the correct date of your last VAT period otherwise, the VAT information recalculated by QuickBooks won't accurately reflect your current VAT amount going forward. If you don't know this information, please cancel the upgrade , and consult your files, HMRC, or your accountant for the correct date.
How do I download the new customised templates in to QuickBooks 2008 or later?
Updated: May 28, 2010
Article ID: 2714
We have created form templates (invoices, bills, credit notes, etc...) for you to download into QuickBooks 2008 or later. You can download these templates from within QuickBooks, or you can download them manually.
It is very important that you enter the correct date of your last VAT period otherwise, the VAT information recalculated by QuickBooks won't accurately reflect your current VAT amount going forward. If you don't know this information, please cancel the upgrade , and consult your files, HMRC, or your accountant for the correct date.
To download new customised templates from in the product:
- Go to the Lists menu and select Templates. The Templates window opens. Click the Templates button, and then select Download Templates. If you receive a Launch Web Browser message, click OK. You are taken to the Support site where the templates are located.
- Click on the type of Form Template you want to view (eg., sales order), then choose the template you want to download into QuickBooks. Click the link to begin the download.
- Save the template to your Desktop.
- Go back to QuickBooks and open the Templates window (if it is not already open), click the Templates button and select Import.
- Browse to your Desktop where you saved the template and select Open. The new template is added to the Layout Designer.
- Make any changes that you want to the template, and click OK to save the template to the Templates List.
Importan: If you dont click Ok, then new template will not be added to your Templates List.