Gone are the days when businesses maintain its accounts manually. Today, organizations use a number of tools to save time and efforts when maintaining records. One of the most popular softwares used by small and mid-sized businesses worldwide is QuickBooks. QuickBooks not only includes loads of features but is also incredibly simple to set up. As hard as it may be for you to believe, you don’t have to be an accounting expert to set up your QuickBooks Online. All you need to do is follow the below simple steps, and you are set!
1. Set Up Company Information
The first step involves setting up the basic information of your company such as your company’s address, name, email ID, and logo. You will also be required to feed in information related to the business’s legal entity.
2. Customize Invoice, Sales Receipts, and Estimates
In this step, you will be customizing your sales forms. You will be required to provide detailed information related to discount field, payment terms, and other customer-related info.
3. Set up Invoices, Estimates, and Sales Receipts
In this step, you will decide the information that will appear on your sales forms. Decide your service date and shipping fields. You will also be required to feed in information related to your customer’s preferred mode for receiving invoices.
4. Add Products and Services
This step involves deciding the level of detail that will appear on your sales forms. You may choose to add cost, quantity, product descriptions or any other criteria.
5. Learn to Create Messages
In this step, you will be creating personalized messages, and determine the place in the invoice where they will appear.
6. Set Up Expenses
In this step, you will customize your QuickBooks Online, which will help track your expenses effectively. You will be creating purchase orders and billing criteria.
7. Set Up Advanced Settings
This step involves turning on settings for your balance sheet, Profit & Loss statement, and cash flow.
8. Import Banking Transactions into QuickBooks
In this step, you will be connecting your bank account to your QuickBooks Online.
9. Import Credit Card Transactions into QuickBooks
This step involves connecting your credit card to QuickBooks Online.
10. Set Up Multiple Users
This step involves giving access to tax professionals and your accountants to your QuickBooks Online.
11. Set Up Products and Services
This step involves setting up QuickBooks Online to track your inventory and the products that you sell.
12. Set Up Customers
In this step, you will set up QuickBooks Online to track customer details that can be used to contact them.
13. Set Up Vendors
This step involves setting up QuickBooks Online to track information about vendors.
Following these steps is as easy as 1-2-3. If, however, you are stuck setting up your QuickBooks online or need help with bookkeeping tasks, Virtual Jeannie would be happy to help. To learn about bookkeeping services that we offer near your location, call at 707-664-1425. Alternatively, to help us understand your requirements better, fill out our contact form.