Cannot restore QuickBooks backup file

Default user avatars originalI tried restoring a QB file which I created in another computer (with QB Premier 2014). It gives me an error:

Problem: Quickbooks Premier Edition 2016 cannot open the company file because the file has been updated to a newer version of Quickbooks.

Solution: Restore a backup copy of the file that was made before the file was updated to the newer version. To do this, click OK then click "Restore a backup file" in the No Company Open Window. Or Upgrade your version of Quickbooks to the latest version.

I can't restore the back up copy so I can only go with the upgrade option. How to upgrade my version of Quickbooks to the latest version? I tried Update Now and it didn't work. I still can't open a back up file that I created with a newer version QB.

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