Quickbooks Error 3371 Status Code 11118 is an erroneous condition in QuickBooks that can occur when a user tries to configure the program for the first time. A missing or damaged company file can be one of the primary reasons behind this error. When the error occurs, you will see an error message on your screen, which reads - Could not Initialize license properties. Damaged Microsoft components and interruptions caused due to the antivirus program are some of the main reasons behind this error. To fix the error, ensure Windows and QuickBooks applications have the latest update installed. For more help, you may contact professionals to resolve Quickbooks Error 3371 Status Code 11118.