Configurations To Be Made In QuickBooks Enterprise For Your Business

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Configuring Your QuickBooks Desktop Enterprise To Your Business

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QuickBooks Setup

 

After getting your QuickBooks installed on your computer you have few more things to be done. Read this article to make sure that you set up your company file properly and all your data is complete.

 

After you have created the company file you shall input your crucial information such as:-

 

  • People with whom you are doing the business ( to invoice your customers, payment of vendor bills and keeping track of employees).
  • Product and services that you deal with
  • Bank accounts that you use
  • Payroll information
  • Existing transaction audit trail.

 

Setting up is easy, just keep following the prompts and later click on a button that says start working.

 


Quick Start Center

 

By using this feature some common startups tasks for e.g- creating invoices, writings, and bills and entering sales receipts can be done easily, customers and vendor reports can be viewed as well.


Reviewing the Chart Of Accounts

 

By setup process, a chart of accounts is created by the QuickBooks which will be based on your business type. Just review them in order to make sure that all accounts are accurate to what you need for your business.

 

Any account can easily be deleted or edited as per your needs.

 


Entering Historical Transactions

 

In case you need to input your past information you may need to enter it.

Just select a past date as your start date and enter all past transactions made from the start date to the current day.

Historical transactions are meant to be entered in a chronological way inside the transactions.QuickBooks is not aware of applying for a payment until you recorded customer invoice previously.

 

Recommended Order of Entry:-

 

  • Invoices sent by you since you started
  • All purchase orders being issued since the day of start and not received in full yet.
  • Cash received via checks since the day you started.
  • Deposits being made before the day you started but not shown on previous statements yet.
  • Bills received since the day you started
  • Bills paid since the start
  • Deposits made on any account since the start
  • Checks or payments being made since the start
  • Charges and checks happened before the start but not on previous statements
  • Charges by the bank including fee and interest
  • Year to date information of employee being paid from 1st January through the start
  • Liabilities being owed for payroll since the start

Payroll

 

If you are a QuickBooks payroll subscriber then during the setup you will be asked all your year to date payroll information that is to be added.

In case any wrong information is added the tax information will not be accurate as well.

 

You shall use the in-product help option provided to know how to input correct payroll info.

 


An input of optional adjustments

 

After the company file is successfully been created it is necessary to make some changes regarding your start date. On the basis of your company you shall:-

 

  • Input sales tax liability if any
  • Make adjustments for uncategorized expenses and income
  • Adjustments to be made for current expenses and income in case of the start date no same as the beginning of fiscal year.

Backing Up Company file

 

QuickBooks Enterprise can create a backup of all your company file which are compressed and contain all your transactions. A backup helps you to protect from accidental data loss which can be a big problem for your business. And this backup can be instantly restored whenever you want to .a backup file is made in an extension of .qbb and can only be opened in QuickBooks.

 

The best way to make a backup is backing up all your files online, which is a complementary feature with QuickBooks active subscription which allows you to store files offsite.

 


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