I recently had some users encounter this error whilst trying to load QuickBooks 2007 on a Windows 2008 Terminal Server:

To resolve this, I took the following approach:

1. Since this is a terminal server, does it fail when run as administrator too? Tested this - works fine under administrator account. That means the base quickbooks system has been installed correctly. It could only be a profile or permission issue.
2. Since it is complaining about a file that could not be loaded, I downloaded Process Monitor from Windows SysInternals and fired that up under the problematic account. I made sure to filter only on the quickbooks process as to not receive too many events.
3. Once running, I tried to launch QuickBooks. Once it failed with the above error, I stopped the monitoring.
4. Scrolling down showed this:
   

   

5. As I have indicated, these two files were not found and since that is in the local user's profile, it was a very clear hint that maybe those files were missing. Indeed they were.
6. Since I knew Administrator worked, I copied the C:\users\administrator\Windows directory over to C:\Users\test\.
7. When I loaded QuickBooks again it worked, however I got a new error:
   

   

8. To resolve this I ran Process Monitor again and it showed insufficient permissions to these two registry keys:

   HKEY_CLASSES_ROOT\.qpg
   HKEY_CLASSES_ROOT\qpgFile 
   

   I simply granted all users full access to those two nodes.

9. Quickbooks was working again.