I am about to upgrade to 2020 version, what do I need to do to be able to transfer backup from QuickBooks 2017

Follow the below mentioned steps,

• Replace the old files by transferring them to the same folder when the update is completed.
• Now is the time to upgrade your company file, or you may lose your data.
• For the purpose of updating firm data
• First, make sure that if it's in multi-user mode, you're the only one using it.
• Navigate to the File menu.
• Then select Open and restore the company file from the drop-down menu.
• After that, select Open a corporate file or Restore a backup copy from the drop-down menu.
• To continue, click the Next button.
• Select the company file from the list and click the Open button.
• After that, you must log in as an Administrator.
• Now select the option to update.
• Follow the instructions on your screen.

After you've completed the upgrade, click the Done button.

This is the whole procedure for upgrading QuickBooks 2017 to QuickBooks 2020, including the company file upgrade. You will lose data if you do not upgrade the firm data file.