6 Easy Steps To QuickBooks® Setup For Your Business

Expert Tips on Completing Your QuickBooks® Setup

QuickBooks® has become the leading software for managing accounting functions, and one of the reasons for its success is its user-friendly interface. Setting up QuickBooks® doesn’t require complex steps with obscure accounting terms or computer programming. Instead, QuickBooks® guides you through the setup process step-by-step with an easy-to-follow system of user prompts, instructions, and interfaces for non-accounting personnel as well as accounting or bookkeeping professionals. 

If your QuickBooks® Online setup seems a bit daunting, Accounting Meister can help!  Let’s work together to ensure your account is set up correctly and that you and your team get the training you need. Learn accounting best practices and how to use the software more efficiently once your QuickBooks® account is set up. 

And for those who prefer to outsource their accounting to a professional QuickBooks® consultant, we offer outsourced bookkeeping and accounting services. Contact us for details or request an initial consultation.

Now, back to the basics of QuickBooks® setup.

Understanding the Basics of QuickBooks® Setup

Pick the Version That Works for You

Since QuickBooks® is used so extensively, the software comes in a few different versions: QuickBooks® desktop version provides pro, premier, and enterprise levels, while QuickBooks® Online allows you to access your data anywhere. 

The desktop version has more features and is more customizable, while the online version of QuickBooks® is beneficial for businesses that need access to their books online from any location, mobile apps, or want to integrate their accounting software with other software they may use to run their business. Price points start at about $15 a month. 

Four key things you need to consider when deciding which version of QuickBooks® is best for your business: 

  1. What functions you want to use.
  2. How many users need access.
  3. Where your users are located. 
  4. Whether or not you need the flexibility of QuickBooks® Online over the robust features of the desktop version. 

Take Advantage of Tutorials

QuickBooks® designed its software to be accessible even if you’re not an accounting professional, but that doesn’t mean you should skip tutorials and video tours. The software includes many valuable tools you may not immediately be aware of, and taking advantage of training resources gives you a preview of these features and what QuickBooks® can do for you. 

Additionally, while the software provides a user-friendly interface, getting extra instruction is a good idea when dealing with sensitive data like financial information. At Accounting Meister, we offer a range of QuickBooks® training, from independent learning to customized, one-on-one tutoring. If you prefer to do it yourself, check out our QuickBooks® help guide. Or, if you prefer personalized help from a QuickBooks® expert, contact us to learn more about our educational resources and other services.

Follow the Prompts in QuickBooks®

When you initially start QuickBooks®, the app will walk you through a menu of user prompts. First, the software will ask you for standard information, like the business name and industry. Other initial information you’ll want to enter includes your business address, phone number, email, the start of your fiscal year, whether you use cash or accrual accounting methods, and what currency you use. You can also add a logo, set invoice terms, and set up your sales tax. After completing the initial steps, you’ll see the “Finish Set Up” tab.

Add Products, Services, and Customers

To create invoices, you’ll need to add products and services. Although you can add this data during invoice creation, you can set it up ahead of time for ease of use later. Click the gear icon and pick “products and services” to start entering these items. 

Another step required for creating invoices is adding customers. While you can also enter customer data when you create an invoice, you may find it beneficial to add your customers during QuickBooks® setup to streamline invoice creation. And you can easily import your customers from Excel or .csv files. 

At Accounting Meister, we have over 20 years of experience helping businesses with QuickBooks® setup and providing independent QuickBooks® training and support. Contact us about our setup and training services if you want to ensure QuickBooks® is set up correctly for your business.

Set Up Invoices and Payments

QuickBooks® also helps you send invoices and receive payments. To set up invoices and payments, look in the “Account & Settings” tab, click through, and follow the prompts. 

You may also want to connect your bank account to QuickBooks® Online to categorize transactions and track expenses and income more efficiently. On the Home page, under Bank Accounts, look for the link “Connect an Account,” then complete the on-screen prompts. 

Set Up Any Other Features You Want to Use

QuickBooks® gives users a robust suite of capabilities, like tracking expenses, paying bills, syncing credit card accounts, payroll, automatic sales tax tracking, and time tracking (scheduling). If you carry inventory, it allows you to track your inventory, so you’ll always know how much merchandise you have in stock. You can also share your QuickBooks® with your accountant. After you’ve completed your initial setup, consider what other features might benefit your business. Before you know it, you’ll be so well organized that you might have a little extra time in your day.

For friendly, knowledgeable assistance with your QuickBooks® setup or any accounting or bookkeeping questions, contact Accounting Meister. We’re ready to help you keep your finances in excellent shape. Contact us to learn more or to request an initial consultation.

Avatar for Scott Meister, CPA

Scott Meister, CPA

I help small businesses, accountants, bookkeepers, office managers, and business owners with their accounting needs. I’ve used QuickBooks since 2002 and train folks on how to use it efficiently. I create high-quality video training tutorials for QuickBooks and post them on scottmeister.teachable.com. Certifications include: Certified Public Accountant (CPA) | Certified Bookkeeper (CB) | Advanced Certified ProAdvisor for QuickBooks Desktop | Advanced Certified ProAdvisor for QuickBooks Online | Certified ProAdvisor for QuickBooks Enterprise | Certified ProAdvisor for QuickBooks Point Of Sale