How to Set Up a New Checking Account in QuickBooks

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When you set up a new checking account in QuickBooks, you're adding a new asset account to your business chart of accounts. Utilize the automated account creation tool in the chart of accounts section to add your new account and take advantage of the check-writing function to create checks from your new account.

Step 1: Create the Checking Account

To set up a new checking account in QuickBooks, navigate to your Chart of Accounts, right click anywhere and choose New. When prompted to choose what type of account you're creating, choose Bank Account. Enter the bank account number and routing number in the relevant fields.

Along with basic accounting information, you will also be prompted to enter the opening balance for the checking account. Only enter an opening balance if your checking account had a balance before your QuickBooks start date. Otherwise, use the transaction function to ensure your accounts balance. In the credit portion of the transaction, indicate which existing bank account the opening balance was transferred from. If this is a new account you open with your own funds, choose the "Owner's Equity" account as the source of cash.

Step 2: Name the Account

Label the account with a descriptive name and include the last four digits of the account number for easy identification. For example, you might name your account "Chase Checking 9876."

Step 3: Write Checks

To write checks with your new checking account information, navigate to the banking menu and select "Write checks." Enter the name of the payee and the check amount in the appropriate fields. If you've already created an accounts payable purchase order for the vendor, QuickBooks will automatically link the check to the open purchase order. Click "Yes" when prompted to apply the payment against the purchase order. If you're not ready to print the checks yet, click Save.

Step 4: Print Checks

When you're ready to print, insert your blank checks into your printer tray and select "Print checks." Your blank checks should have your company information and routing number preprinted. Only the date, payee and check amount will be added during the QuickBooks printing process.

Step 5: Adjust Check Formatting

If you don't like the formatting on the checks, you can change the font under Printer Setup in the File menu. Use the Address Font option under the Fonts tab to change the font for the payee's name and address. The Font button allows you to change the font for all other options, with the exception of the numeric dollar amount. To comply with banking industry regulations, QuickBooks won't allow you to change the font for the dollar amount.

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