The Error Code 8007007F - Automation Error, The specified procedure could not be found resulting in an Error Connecting to the QuickBooks file is a NEW bug or error introduced by Intuit with the release of the R6 patch for QuickBooks 2014 (Pro, ALL Premeir verions as well as Enterprise 14.0) which occurs ONLY for those still running Windows XP or Server 2003.
You will see a window similar to that shown below when this error occurs:
QuickBooks 2014 update "R6P" caused an issue with all 3rd party software for users running Windows XP & Windows Server 2003.
To our knowledge Intuit has not said that they have a fix this R6P problem as of today - only that they are "working" on it. In fact they have pulled the R6P patch.
We recommend moving to Windows 7 as soon as you can. Windows 8 will work, but most people prefer 7 to 8, including both myself and Ben.
Intuit's current resolution to this issue:
Roll back QB 2014 to "R5P". This will require deleting a file, uninstalling QB, then reinstalling QB 2014. After the install you must NOT install R6P or you will be repeating the process. Also your existing QB file will be on R6P & your program R5P causing an error/warning message every time you login to QB. If you can restore a QuickBooks backup from prior to the R6P install you will be fine.
See the Intuit link below for how to do this process.