Getting started in QuickBooks involves the gathering and input of information to set up a new company file. While this may not be the most exciting of tasks, the more information you can provide QuickBooks about your company and the way you do business, the better QuickBooks will work for you. Get started in QuickBooks by gathering the information you need to track financial numbers and then completing the two-part Easy Step Interview setup process.
- Decide on a start date.
- Gather financial information to help you determine the accounts you need to create. Information you will need includes cash balances. Reconcile all bank accounts to your QuickBooks start date and create a detailed list (date, payee and amount) of transactions that have not cleared your bank. You will also need customer balances. For each unpaid customer invoice, use the correct sales date, the item or service purchase details, amount charged and shipping and tax charges (see “Tips\”).
- Complete a physical inventory and gather inventory information. Information you need includes the name, cost and quantity for each item in stock.
Create Company Profile
- Create a new company file. Open QuickBooks, click “File” on the main menu and then click “New Company” to open the “Get Started” window.
- Complete the Easy Step Interview (Part One). Use the Easy Step wizard to begin entering information and creating your company profile. Information you will enter includes company information (this window asks for general contact information such as business name, tax number, address and telephone number); industry information (select the industry that most closely matches your business); business entity (identify your business type, such as a partnership or corporation)
fiscal year parameters (QuickBooks will default to January as the first month of the fiscal year so change this if yours is different); and security information (sstablish a password to access QuickBooks).
- Save your new company file. Although QuickBooks will suggest a default location for your file, you can save it anywhere you choose. Click “Save,” type in a name, such as QBData; change the location if you prefer a different location, then press “Save Now” to proceed to Part Two of the Easy Step Interview.
Set up QuickBooks Accounts (Easy Step Interview Part Two)
- Enter bank account information. You will need to provide the bank name, account number, bank routing number and current balance for each bank account. Also, indicate whether this is a new account or if you were using it prior to starting QuickBooks.
- Set up chart of accounts. Using the information gathered from financial and inventory records, select the accounts you need by placing a check next to the account name.
- Set up Intuit online account. To access to QuickBooks online features, such as the QuickBooks Help forum, set up your account and password information.
- Click \”Finish\” to complete the Easy Step Interview and return to the QuickBooks main menu.
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