I did want to provide a bit more finer detail along with adding about backing up the forum/site itself first

To update to the newest version, please do the following:
1. Log into your cPanel and click the Backup area there. Click the "Generate/Download a Full Backup" option and setup to have it save on your account. Use FTP to download it to your local system and you can then delete the backup from your account.
2. Now, go to your SMF forum and login (if not auto logged in). Click on the
Admin link.
2. Log into the admin area by inputting your password.
3. Click on
Package Manager and then follow the instructions. At some point, if you've changed file permissions for folders, then you will get a warning that some files couldn't be written to due to this. You will then need to input your FTP login password to cPanel.
Then you should be done. I really want to stress backing up the forum before you do any upgrades for anything ever.
Thanks.