Do you have an older version of QuickBooks and wonder when the right time would be to upgrade to the newest version? A common question related to QuickBooks is whether or not you are required to upgrade your QuickBooks software and, if so, how often the upgrade should occur.
The answer to this can depend on the different additional services in QuickBooks you may or may not be using.
If you are using any of the additional services such as credit card processing, emailing invoices through the QuickBooks server, or processing payroll in QuickBooks you will be required to update your QuickBooks software every three years. For example, if you purchased a 2013 version of QuickBooks, you will need to upgrade to the 2016 version. We usually recommend that at least for the payroll processing service you upgrade before the end of May to make sure your payroll service is not interrupted. If you do not upgrade your QuickBooks software and you use these or other additional services, they will no longer be available to you until you process the upgrade.
If you do not use these additional services you are not required to upgrade at any specific point in time, but it is important to note that QuickBooks is only supported for three years by Intuit. This means that if your particular version of QuickBooks is more than three years old and you run in to any technical issues, you most likely will not receive any support directly from QuickBooks itself. Past that issue, though, you are welcome to continue using your version of QuickBooks for years to come.
As an important side note, and for the sake of your accountant, we recommend you still upgrade your QuickBooks regularly, even if it isn’t every three years. The older your version of QuickBooks is, the more prone you can be to technical issues or losing your data.
The newest version of QuickBooks is released each fall and is available for purchase through www.intuit.com. The process of purchasing the software has been made much easier in recent years due to being available as a download first versus waiting for a physical CD-ROM to arrive in the mail. If you do prefer to have the CD-ROM, there is an option to request it.
If you have any questions regarding upgrading your QuickBooks file and the benefits of the most current version compared to the one you are currently using, please contact any of our QuickBooks Pro Advisors at Larson and Company. We would be happy to assist you!