How to Operate QuickBooks Part II

This is Part II of how to Operate QuickBooks. This will be Lesson 2 on how to set up QuickBooks for your Business.

Instructions

Difficulty: Moderate

Things You’ll Need:

• Personal Computer
• Internet Connection
• QuickBooks version 2003-2007

1. Create your company file. Do this by (1) Launching QuickBooks. (2) Click File > New Company. (3) Click Next three times. (4)Click Skip Interview if you do not want to go through the Interview process. (5)Enter your Organization's name, address, Legal name as it appears on documentation, and the rest of the information as it asks.
2. Click Next. QuickBooks automatically generates a preliminary Chart of Accounts. If you are in a specific business such as Accounting for example, you should choose Accounting/CPA for your accounts. Click Next.
3. QuickBooks now opens an area on your harddrive in order to save this file. Click Save and wait a few minutes.
4. Now time to set up your preferences. From the Edit menu choose preferences. (2) Use the scroll box on the left to select a picture for the are of QuickBooks you want to set the preferences. For example, Finance Charge. Here you will set up all financial charges, percentages, etc. Choose your own settings here and click OK.
5. Time to Modify the Chart of Accounts List. To Print:(1) Click Lists > Chart of Accounts. (2) Select the Account button at the bottom of the page. (3)Click print list.
6. To Delete an account: (1)Click on an account you want to delete (2) Select the Account button and choose delete. (3)Click OK in response to the question box. (4)The account is now removed from the Chart of Accounts.
7. To edit(change)Vendor: (1)Click List > Vendor list on the menu bar. (2)Click the Vendor button > select edit. (3)The same info. displays so you can change, add, or delete. (4)Click OK when done.
8. To add new accounts: (1) Select the Account button and choose NEW. (2) Click the down arrow in the TYPE of account box. (3) Select the appropriate asset, liability, equity, revenue, or expense type. (4)Type a name in the box. (5)Type a complete description. (6)Indicate if it is a subaccount. (7)If subaccount choose account it is a subaccount of. (8)If not, leave blank. (9)Do NOT complete the beginning balance and date field at this time. Click OK.
9. To edit account: (1)Select the ACCOUNT button and choose edit. (2)The same info. box used to collect NEW account info. appears on the screen. (3)Make appropriate changes. (4)Click OK.
10. Complete company file setup, back up work, and you are done!!

Tips & Warnings

• If the same name is needed on different lists--change the name slightly. For example, a vendor may also be a customer.