Good day,

How do I check which version of IP Board we have currently? And what are the requirements or server requirements to upgrade from an old version of IP Board to a newer one?

To check what version you're running, click on the "Support" link in the upper right of your ACP.  

It should tell you what version you're running such as:

If you want to check to see if your site is able to run the IPB software, you can use the compatibility checker:

But in a nutshell one of the major requirements is PHP 8.0 or 8.1.  7.4 technically works right now, but PHP 7.x support ends in November and as a result in the November release, IPS will be removing support for it.  So I would just stick with 8.0.x or 8.1.x.  Full details can be seen when you run that script.  

Thank you

Thanks @Randy Calvert.

If you encounter any further issues please don't hesitate to reach out, @Valerie Huard.

How long does it take to upgrade from an old version of IPB to a newer one? 

Upgrading usually only takes several minutes provided you have input the correct information on those other tabs you are seeing in the image.