If you choose to keep the older release but convert your Peachtree company data to Release 2008, you will NOT able to access that data with the old release.
If you choose to install over the old release, your Peachtree company data will NOT be overwritten. Rather, when you open the company for the first time, your will initiate the Conversion wizard to update the data files to Release 2008.
"With my own experience, I strongly suggest you to completely uninstall the old release and reinstall the new release. Then, you can use conversion wizard to transform your backup into new release."
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