It can be quite overwhelming for anyone to set up their books especially when they are new to QuickBooks accounting software application. Unless you don’t have some prior bookkeeping experience, you most probably will need a little help.
- However, the good news is that you don’t need to have an accounting training to set up QuickBooks Online.
- In this article, we shall be describing in detail how you can easily setup your QuickBooks company account in a matter of no time.
- QuickBooks accounting software application is undoubtedly the best way to manage your finances in the better way. We have simplified the setup procedure for QuickBooks Online by narrowing it down into the following steps that you will definitely find easy to understand.
- But in any case, you feel a bit confused in any of these steps, then connect with our Accountinghub QuickBooks tech support team.
Table of Contents
Steps for Setup QuickBooks Online
Step 1: Setup Company Details in QuickBooks
To set up the company details in QuickBooks online, you need to enter the company name, logo, address, email, and website related details. These facts will be used while preparation of reports, client invoices, and tax returns.
Step 2: Tailor Invoices, Sales Receipts & Estimations
You need to tailor the look and feel of the sales section that will help your customers. For this, you need to make desired changes in the Sales form, product, and services, notifications, online delivery, and statements.
Step 3: Setup Invoices, Sales Receipts & Estimates in QuickBooks
In this section, you need to need to set up the desired invoice terms, delivery method, shipping charges, customized transaction number, service date, any promotional discount, and much more.
Step 4: Setup Products and Services in QuickBooks
You need to showcase the product and services column, SKU for bar code purposes, Track quantity, price of the product and services and track inventory in stock.
Step 5: Setup Messages
In this section, you need to personalize email messages that you need to send to your clienteles together with their invoices, sales receipts, and estimates.
Step 6: Setup Statements in QuickBooks
By setting up statements, you can easily provide a recapitulation of the products or services that were included in the bill of the customer and payments received from them over a period of time.
Step 7: Setup Expenses in QuickBooks
Through this feature, you can easily customize QuickBooks to track your expenditures which basically includes billing customers for expenditures levied on their behalf, setting up accounts outstanding, and crafting procurement orders.
Step 8: Setup Advanced Settings in QuickBooks
By setting up Advanced settings, you will be able to switch on settings for your financial reports, including your profit and loss statement, balance sheet, and cash flow statement.
Step 9: Import Banking Transactions in QuickBooks
QuickBooks software enables you to smartly connect your bank account to QuickBooks accounts. For this, you have to Find your Bank >Sign into your Bank account > Choose your bank accounts >Choose right date range> Press Connect
Step 10: Import Credit Card Transactions
You can seamlessly connect your credit card to QuickBooks accounts. For this, go to Banking center > Sign into your Business credit card account> Choose your business credit card > Choose right date range > Press Connect.
Step 11: Setup Multiple Users in QuickBooks
You can now use the multiple user mode in QuickBooks which give access to your accounts and company related data to your accountant and other users, such as a tax professional or bookkeeper. Go to Manage users >Send invite to Accountants > Set up is over
Step 12: Setup the Chart of Accounts in QuickBooks
By setting up the Chart of Accounts, you can easily edit and remove accounts from the QuickBooks. Go to Chart of Accounts > Select New button > Enter the details in the prompted field > Click Save the New Account
Step 13: Setup the Products and Services List in QuickBooks
For this, you have to go to Product and Services list > Create New Item > Choose Item Type > Set up inventory item/ non-inventory item > Run product/service report.
Step 14: Setup Customers
For this, you have to go to Customer center >Create New Customer> Enter Customer details >Payment and Billing details >Other Customer Details
Step 15: Setup Vendors
For this, you have to go to Vendor center >Create New Vendor> Enter Vendor details > Other Vendor Details
If you still have questions regarding setting up of the QuickBooks accounts, then feel free to express your apprehensions to our Accountinghub QuickBooks technical support team at our QuickBooks Online Support Number .