Intro To Quick Books-Part2

©NR Computer Learning Center . 2100 W. Orangewood . #110 . Orange . CA 92868 www.nrclc.com . (714) 505-3475

QuickBooks Basics: Setting Up a New Company

March 25, 2010

NR Computer Learning Center2100 W. Orangewood, Suite 110

Orange, CA 92868www.nrclc.com(714) 505-3475

NR Computer Learning Center Setting up a new company Q & A

Introduction

Established in 2002 Located in Orange, California Provide workshops/webinars related to Small & Medium

size Businesses (SMB) and Entrepreneurs: QuickBooks & Microsoft ExcelOnline Marketing / Social mediaWebsite DesignInternet SecurityComputer basicNetworkingProject Managementand more

NR Computer Learning Center

Corporate Training:Project ManagementDatabase DesignApplication Development

Authorized Testing Center by Certiport, Pearson and Prometric

Provide Test Preparation Classes, Software and Courseware

NR Computer Learning Center

Over 15 years of experience in IT and Financial Industries.

Specialized in Financial Management and Taxation for Small businesses

Certified QuickBooks ProAdvisor Microsoft Certified Trainer (MCT) Education: MSCS, BSCS, MCAS Excel

Sunita Mehrotra

Setting up a new company◦Start the EasyStep Interview and create a company file

◦Open the Chart of Accounts, create and delete accounts, make accounts inactive

Objectives

Using the EasyStep Interview

Setting up a new company

Last year’s federal tax return Copies of all unpaid invoices that your

customers owe Copies of all unpaid invoices that you owe

to businesses and individuals A detailed list of inventory items for resale Balances of active accounts (checking,

credit cards, loans, lines of credit) Values of all assets

Before you start, you’ll need:

EasyStep Interview

To start the EasyStep Interview◦ Choose File, New Company◦ On the Welcome screen,

click “Create a new company file”

The EasyStep Interview wizard guides you through the steps to set up your company file

EasyStep Interview: Company Information

‣Company name (required field)

‣Legal name

‣Federal tax ID number (EIN)

‣Company address

‣Phone and fax numbers

‣Company e-mail address and Web site

EasyStep Interview: Select Your Industry

EasyStep Interview: Company Organization

EasyStep Interview: Start of Your Fiscal Year

EasyStep Interview: Setting up Password

EasyStep Interview: Create Company File

EasyStep Interview: Save File

What industry you’re in What you sell—products, services, or both How customers pay you—including sales

tax, invoicing, estimates, and job time tracking

How you pay your bills Whether you have employees

Company preferences

The file name is the company name Default file location

◦ C:\Program Files\Intuit\QuickBooks 2008 .QBW file extension

Saving your file

EasyStep Interview: Customize QB for Your Business

EasyStep Interview: Service/Product

EasyStep Interview: Sales Tax

EasyStep Interview: Create Estimates

Retail B

usiness

EasyStep Interview: Sales Receipts

EasyStep Interview: Billing Statements

EasyStep Interview: Invoices

EasyStep Interview: Progress Invoicing

EasyStep Interview: Managing Bills

EasyStep Interview: Printing Checks

EasyStep Interview: Credit Cards

EasyStep Interview: Tracking Time

EasyStep Interview: Employee

EasyStep Interview: Setting up Accouts

EasyStep Interview: Start Date

Today’s date Beginning of calendar year (Jan. 1) Beginning of company’s fiscal year Date your company was started

Start date choices

EasyStep Interview: Bank Account

EasyStep Interview:Recommented Accounts

EasyStep Interview

QuickBooks Coach

Workflow

You can start with the accounts that QuickBooks suggests for your business and modify them later

You can start with no accounts and add them all later

Reviewing accounts

QuickBooks Coach mode

Using the Chart of Accounts

On the Home page, click the Chart of Accounts icon

On the icon bar, click Account Press Ctrl+A Choose Lists, Chart of Accounts

Opening the Chart of Accounts

The Chart of Accounts

Creating Accounts

Select Account Type

The Add New Account window

Editing Visa Card Account

1. In the Chart of Accounts, select the account to be edited

2. Click Account and choose Edit Account

3. Modify the account information as necessary

4. Click OK

Editing Visa Account Information

1. Select the account you want to delete

2. Click Account and choose Delete

QuickBooks prevents you from deleting the following accounts ◦ Accounts with balances◦ Accounts used in existing

transactions◦ Accounts used in payroll

3. Click OK

Deleting accounts

Making Account Inactive

1. Select the account you want to make inactive

2. Click Account 3. Choose Make Inactive

To Show Inactive Accounts

Inactive Account Marked

Account numbers can be used to organize your accounts

Manual or automatic numbering◦ To use manual numbering, use the Edit Account

window◦ To use automatic numbering, use the Company

Preferences tab in the Preferences dialog box

Account numbers

Preferences

Manually Entering Account Number

Started the EasyStep Interview and created a company file

Opened the Chart of Accounts, created and deleted accounts, made an account inactive, and applied account numbers

Summary

Sunita Mehrotra sunita@nrclc.com

Contact InformationNR Computer Learning Center2100 W. Orangewood, Suite 110

Orange, CA 92868www.nrclc.com714-505-3475

Sunita Mehrotra: sunita@nrclc.comVazi Okhandiar: vazi@nrclc.com

For information on future event, please visit www.nrclc.com/events.htm

Intro To Quick Books-Part2

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