Most of the small and medium-sized business understands the importance of QuickBooks and they also know about how this fully functional software can add value to their overall business. And that’s why the majority of SMEs are now moving to the most prominent solution of all accounting needs, QuickBooks. But the decision of moving to an accounting software will turn into a fruitful step only if the user knows how to make the most of it. Even with so much popularity and with 1.57 million users, still many people are not aware of how to get started with the software.
That’s why, in this blog post, we have woven together various tips and tricks for beginners of QuickBooks which has resulted in an ideal guide for getting started with the fully functional accounting software
1. Start by setting up a secure environment
Before using any feature of the software or entering any details, first of all, you should set up a secure environment to work in and you can do so by changing the password. In the Your Account section, go to Change Password
2. Enter your business vitals
After making the decision of moving to QuickBooks, you need to enter your business details into the software. You can do this by simply going to Company Preference and entering the required company details like Tax ID, reporting forms, reporting calendar, business structure, etc.
3. Sync your bank accounts
Syncing your financial accounts with QuickBooks is an important step to ensure that all historical and future data gets recorded in your QuickBooks, so that you can easily track them. The financial accounts which should be synced with QB are credit cards, PayPal accounts, etc. For Syncing your financial accounts, click on Transaction>Banking> Add accounts> Enter institution name and follow the screen prompts. In order to complete the synchronization, you will also be asked to log in to your bank accounts through QuickBooks.
4. Revise your company setting
Now the next thing which you need to do is to revise your Company Preference so that the software can work as per your need and demand. There are many options in the Company Preference, which can be personalized to make the most of them. Here are some of those options
5. Make Invoice Templates
By adding your company logo, you can customize your Sales Forms. To do so, you can click on Company Setting>Sales Form Entry.
6. Start QuickBooks Payment
Setting up QuickBooks Payments allows you to receive payments from your clients in electronic form. One of the best advantages of using QuickBooks Payments is when the payment is received from the client then the respective invoice is automatically marked as paid. Through QB Payment, clients have the option to pay through ACH (through entering bank account) or credit cards. You can adjust your preference of receiving the payment from your client in the company setting.
7. Start tracking the money flow
After following the above-mentioned steps, you need to start tracking the money flow. You can start it by digging into the Banking tab and going through the basic reporting option. Don’t forget to record any data that aren’t already covered by your connected accounts. You can send check by using the Write Check Tabs and you can also use the other headings (Credit Card Expense, Cash Expense, Deposit, etc.) to monitor your costs and sales.
QuickBooks is an all in one app for your accounting needs. However, for making the best of the app, you can go for QuickBooks Hosting by choosing from the best QuickBooks hosting providers. By hosting the fully functional software, you will be able to get various advantages like anywhere, anytime accessibility, enhanced security, multi-user access, etc.
Ways to Integrate Your QuickBooks Desktop with The Cloud