There is no need to install the old version of WaspTime on the new machine before installing v7. Instead follow this procedure:

When installing WaspTime7 on a new PC using an upgrade key, the installation will not proceed as expected.

To allow the install, download and extract https://dl.waspbarcode.com/wasp/supportfiles/WaspTime7UpgradeRegKey.zip on the affected machine, then double click on WaspTime5_32bit.reg or WaspTime5_64bit.reg, whichever matches your version of Windows. Allow it to create the registry entries, then rerun the v7 installer.

Note: Only install the 32-bit OR 64-bit file, whichever matches your PC. Do not install both.

Client PC (no database): You're done.
Server PC (holds the database): continue with the procedure.

First, create a backup of the database on the old machine, and copy the backup file to the new machine. During installation, it will say it doesn't see the old version database. Select the option to install a new database.

After installation, go to the Start menu > All Programs > Microsoft SQL Server 2005 > SQL Server Management Studio Express.

Set authentication to Windows Authentication and click Connect. If it won't let you connect, let us know, and we will give you the admin login.

Open Databases, then right click WaspTime and go to Tasks > Restore > Database. Choose the option for From Device, then click the "..." button, then click Add to open the browse window. Set the Files of Type drop down to All Files, select your file, then click OK. Check the Restore box for the backup, then click Options at the top left, and check the box for Overwrite the existing database (WITH REPLACE), and click OK.

To update the database to the current version, you need to execute several scripts (depending on which older version you have).

Hit Ctrl-O on the keyboard to get the Open File window. Browse to C:\Program Files (x86)\Wasp Technologies\WaspTime\Database. After opening each script, click the Execute button on the toolbar. Repeat this for each script in the list for your old version, in the order listed.

If you're upgrading from version 6:

Upgrade6ToLatest.sql
WaspTime7.sql