QuickBooks Setup Instructions
Setting up your QuickBooks file for the first time will create the foundation of how efficiently and accurately companies use this program to manage their day to day business activities.
To setup your file, please use the EasyStep Interview as it walks you through the setup process for your business and industry type.
1. Start QuickBooks.
2. Select Create a new company, click the Start your new company file now button, or choose New Company from the File menu. QuickBooks displays the EasyStep Interview window.
3. At the Welcome window for the interview, click Start Interview to begin.
4. In the Company Name field, type in your company name and press Tab.
5. Press Tab again and type in your Tax ID number.
6.Type the requested information in the blank fields: address, city, state, zip, etc. Fill out as much as possible as this data will be used to create your invoices, receipts, reports, etc.
7. In the “Select your industry” window, scroll down the list until you find which category applies to your business. Real estate companies and contractors should be as specific as they can. Click Next.
8. In the “How is your company organized?” window, select type of entity and click next.
9. In the “Select the first month of your fiscal year” window, type the first month of your calendar year and click next.
10. In the “Set up administrator password” window, click Next or create a unique name that will only be used by you or the person who will be able to make substantial changes to your file.
11. Click Next to save the company file.
12. In the “Filename for New Company” window, make sure that QuickBooks is set to save the file in the QBTrain folder you set up during the introduction to the guide. I also like to save files on the desktop for easy retrieval.
13. Click Save to accept the default filename of “your company name.”
14. Click Next to display the “What do you sell?” window.
15. Select which ever applies or both and click Next.
16. In the “How will you enter your sales in QuickBooks?” window, I recommend to select "Record each sale individually" and click next.
17. In the “Do you sell products online?” window pick whichever applies.
18. Click Next to move to the “Do you charge sales tax?” window.
19. Click yes or no and then click Next. QuickBooks automatically creates a current liability account, called Sales Tax Payable, that keeps track of the sales tax you collect in your business.
20.In the “Do you want to create estimates in QuickBooks?” window, select whichever applies and click next.
21. Click yes or no for “Tracking customer orders in QuickBooks”
22. Click next. Select yes or no for "Using sales receipts in QuickBooks” . Continue with the setup questions
23. For questions pertaining to Billing statements I recommend a yes as these are very helpful for small businesses.
24. For "progress invoicing" please select if you are in the custom of creating invoices and billing your customers by phase of work completed
26. Select bill tracking as this is a very important feature of accounting and bookkeeping
27. For check printing select whichever applies
28. For Inventory select if it applies as this is going to enable Purchase Order functions
30. Select whichever applies for credit cards
31. Select if you want to track time for your employees or subcontractors
32. Select if you have employees, subcontractors for 1099 purposes or both
33. If you use multiple currencies select this option
There will be other questions pertaining to Billing statements
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34. In the “Using Accounts in QuickBooks” window, click Next and then “Select a date to start tracking your finances” window, select the date you want to start tracking your finances.
35. On the “Add your bank account” window, make sure Yes is selected and then click Next. Type Checking as the name of the account and click next and answer a series of questions about this account.
36. When QuickBooks asks if you want to add another bank account, click No. Then click Next.
37. In the “Review income and expense accounts” window, scroll through the recommended accounts or categories which are labels for every type of activity that will occur within your business. You can remove or add accounts from this list by clearing or apply the checkmark. When done click next.
38. Continue with other questions that might be asked and when done click Finish.
If the QuickBooks Learning Center appears, click Go to QuickBooks.
If the QuickBooks Coach appears, click Start Working.
After you have completed the EasyStep Interview, Intuit recommends that you not use the Interview to make changes to your company file.
After you have created your company file using the EasyStep Interview, you can begin using QuickBooks to run your business. However, there are some additional tasks you might need to do to make sure the company file is properly set up and that the data is complete.
For help with your QuickBooks please call our office at 201-322-3505. We service Bergen County, Hudson County, Essex County, Passaic County, Morris County, Union County, Somerset County in New Jersey, Rockland County, NY and New York City.
For help with setting up your QuickBooks file for your new or existing business, please contact our office at
201-322-3505 ext. 1
