It is very important to update your QuickBooks file to the newest release. QuickBooks creates these releases to improve it's products. It is similar to updating your iPhone software of apps. Most people I know update their iPhone on a regular basis but do not update their QuickBooks software. Remember...tech companies create updates to improve their products. It's up to you if you want to utilize those improvements.
I was recently contacted by a local business who was having serious QuickBooks issues. After meeting with the client and trouble shooting the issue, I was sure that the file was corrupted in some way or another. The problem was, after verify and rebuilding the data, nothing was coming up with an error. The file acted like it was corrupted but wasn't showing that it was corrupted. I finally checked the release he was on and saw that it was R5. I searched online for the latest release with QuickBooks Pro 2011 and found it was R13! This guy hadn't updated his file in years! Sure enough, after updating his data file to the newest release the problems vanished. So remember, if you open your QuickBooks file and a window pops up informing you that there is a new release/update- download that update.
To check what release you are on, open your QuickBooks file and hit F2. This will bring up the "Product Information" window. At the top of this window you will see your product, version, and release. For example, for my business, I am currently using: QuickBooks Enterprise 2013 release 9.
If you are a user who rarely closes QuickBooks, you will never be prompted to update your file. In that case, you will need to manually download your updates. To check to see if you are on the latest release: Open QuickBooks, Click Help > Update QuickBooks.
The next item you want to be careful of is how old your QuickBooks version is. Intuit only services three years of QuickBooks products. This means, if you call QuickBooks because you are having issues like: your file won't open, you are getting error messages, your file keeps closing, etc... The service expiration date is usually around the end of March. If you are using QuickBooks 2011 you will want to upgrade before March 2014 because after March 2014 Intuit won't touch your QuickBooks file.
Now you may be asking, "Why should I upgrade? I have never had issues with my older version of QuickBooks." I have worked on several QuickBooks files that were so corrupted, they needed to be sent to Intiut's file fix site. This is where you upload your file and Intuit works on it, fixes it, and gives it back to you. In my experience, this can take anywhere from one to four weeks. This service is ONLY available for the most recent three years of QuickBooks products. If you are using QuickBooks 2010 and encounter an error, you are going to be in big trouble.
Many users don't realize that their file is corrupted until it's too late. They come into work one morning and try to open QuickBooks except QuickBooks won't open. It doesn't matter if you have backups of your file. You have no idea when the corruption started. Your only option at that point is to buy the newest version of QuickBooks and try and upgrade an old backup copy (which may not even work).
So remember, update your QuickBooks regularly and upgrade your software to a newer version at least once every three years.
