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Introduction
- The accounting software Quickbooks helps businesses with bookkeeping tasks, such as keeping track of payroll, purchases, sales, expenses and inventory. The software is also used by accountants. It allows users to create double-entry accounting, which keeps track of transactions by debits and credits, automatically. Users don't have to have much accounting knowledge.
Step 1: Setting Up
- To use Quickbooks, first learn the basics of the program.
- Quickbooks uses different accounts to keep track of different things. For example, what your business owns is recorded in asset accounts, while what your company owns is recorded in liability accounts.
- To create a new company profile, select New Company under the file menu.
- The EasyStep interview launches. During this process, the program will ask you different questions about your business in order to set up your bookkeeping.
- If you want to change any information you have already entered, you can move backwards during the interview.
- You can choose to skip the interview and enter your company information manually instead.
- Choose a location to save the file under Filename for Your Company.
- You will then be asked to create an income and expenses account.
- You will be able to add several users to the account. By choosing an administrative password and username for yourself, you can decide which privileges the users will have.
- After completing the EasyStep interview, you have set up a basic company profile for your business.
- Many other steps will be necessary for complete bookkeeping of your business.
Featured Video - Quickbooks Tutorial
Quickbooks Tutorial Part 1
This is the first of a three part series of videos introducing Quickbooks. This part focuses on getting started and setting up initial data for your company, and starting to enter transactions.
The second and third parts can be seen on YouTube.
Step 2: Features and Software
- Later versions of Quickbooks have included several new features.
- The program has several services available through the Internet, including possibilities to enter and access your accounting information online.
- You can import information from Microsoft Excel.
- Several other accounting software can integrate with Quickbook to fill functions Quickbook does not provide.
- Quickbook offers several options beside the standard accounting software. For example, there is a Quickbook Point of Sale software, which you use instead of a cash register to keep track of sales.
- Quickbook is also available in an online version.
