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QuickBooks Pro 2010 Essential Training
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Creating a company file


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QuickBooks Pro 2010 Essential Training

with Bonnie Biafore

Video: Creating a company file

Creating a company file is easy whether you're new to QuickBooks or a seasoned veteran. The Easy Step Interview steps you through the basics of creating your company file, and setting it up to suit your business. If you don't want the handholding, you can skip the interview and set the company file up on your own. To create a company file, on the File menu choose New Company. The Get Started window tells you it takes about 30 minutes to set up your company file and that's about right.
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  1. 8m 19s
    1. Welcome
      52s
    2. Editions of QuickBooks
      3m 24s
    3. QuickBooks bookkeeping basics
      2m 46s
    4. Using the exercise files
      41s
    5. Disclaimer
      36s
  2. 9m 12s
    1. Opening a company file
      2m 4s
    2. Using the QuickBooks menus and home page
      2m 49s
    3. Touring the Customer, Vendor, and Employee Centers
      2m 32s
    4. Navigating between QuickBooks windows
      1m 47s
  3. 10m 50s
    1. Gathering the information you need
      2m 4s
    2. Creating a company file
      5m 33s
    3. Converting from another program
      3m 13s
  4. 8m 19s
    1. Naming and numbering accounts
      3m 36s
    2. Creating an account
      2m 26s
    3. Making an account inactive
      2m 17s
  5. 14m 50s
    1. Creating a customer profile
      3m 40s
    2. Adding customer information
      4m 33s
    3. Creating a job
      2m 18s
    4. Making customers inactive
      1m 39s
    5. Creating a vendor
      2m 40s
  6. 43m 35s
    1. Why use QuickBooks items?
      2m 59s
    2. Creating a service item
      4m 26s
    3. Setting up time tracking
      2m 53s
    4. Entering time
      4m 19s
    5. Tracking mileage
      4m 34s
    6. Creating an inventory item
      6m 7s
    7. Creating a non-inventory item
      3m 34s
    8. Setting up sales tax
      6m 59s
    9. Setting up discounts and charges
      3m 46s
    10. Creating a group of items
      2m 16s
    11. Making items inactive
      1m 42s
  7. 30m 46s
    1. Creating a purchase order
      3m 8s
    2. Entering a bill
      4m 37s
    3. Recording inventory you receive
      3m 47s
    4. Paying bills
      4m 5s
    5. Handling a credit from a vendor
      5m 2s
    6. Writing a check for expenses
      3m 17s
    7. Paying with a credit card
      1m 40s
    8. Paying with cash
      2m 53s
    9. Paying sales tax
      2m 17s
  8. 35m 5s
    1. Understanding invoices, statements, and sales receipts
      2m 23s
    2. Creating an invoice and filling in header fields
      2m 55s
    3. Adding items to an invoice
      5m 7s
    4. Adding billable time and cost to an invoice
      5m 57s
    5. Using subtotals, discounts, and other charges
      3m 6s
    6. Creating an estimate
      2m 49s
    7. Handling a customer credit
      4m 57s
    8. Creating a statement charge
      3m 7s
    9. Producing a statement
      4m 44s
  9. 14m 44s
    1. Setting up print options
      4m 13s
    2. Aligning forms with printer paper
      3m 0s
    3. Printing one or more forms
      4m 29s
    4. Emailing a sales form
      3m 2s
  10. 14m 8s
    1. Receiving a payment
      3m 49s
    2. Assessing finance charges
      4m 9s
    3. Creating a sales receipt for a cash sale
      2m 39s
    4. Depositing payments
      3m 31s
  11. 10m 37s
    1. Preparing to reconcile a bank account
      1m 50s
    2. Reconciling transactions to your bank statement
      3m 14s
    3. Correcting discrepancies
      5m 33s
  12. 9m 51s
    1. Using the Report Center to find reports
      3m 0s
    2. Running a report
      3m 45s
    3. Printing or saving a report
      3m 6s
  13. 6m 8s
    1. Why use journal entries?
      3m 3s
    2. Creating a general journal entry
      3m 5s
  14. 13m 39s
    1. Creating a new user
      4m 58s
    2. Backing up your company file
      6m 10s
    3. Restoring a company file
      2m 31s
  15. 27s
    1. Goodbye
      27s

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QuickBooks Pro 2010 Essential Training
3h 50m Beginner Feb 24, 2010

Viewers: in countries Watching now:

In QuickBooks Pro 2010 Essential Training, author Bonnie Biafore shows how to most efficiently use this popular business accounting software to manage business finances. The course covers core QuickBooks features that business owners need to know, from recording typical bookkeeping transactions like bills and invoices, to reconciling accounts and managing company files. Exercise files accompany the course.

Topics include:
  • Establishing a company file and Chart of Accounts
  • Creating purchase orders and paying bills
  • Invoicing customers
  • Tracking time, mileage, and other non-inventory items
  • Monitoring sales and inventory
  • Paying sales tax
  • Reconciling accounts and bank statements
  • Running and printing reports
Subjects:
Business Accounting Finance
Software:
QuickBooks
Author:
Bonnie Biafore

Creating a company file

Creating a company file is easy whether you're new to QuickBooks or a seasoned veteran. The Easy Step Interview steps you through the basics of creating your company file, and setting it up to suit your business. If you don't want the handholding, you can skip the interview and set the company file up on your own. To create a company file, on the File menu choose New Company. The Get Started window tells you it takes about 30 minutes to set up your company file and that's about right.

To use the Easy Step Interview, click Start Interview. The Enter your company information screen asks for your company 411. As you'll see later, you fill in the same information if you create a company file manually. The only field you have to fill in right now is the company name. The legal name is the one you use on tax returns and legal documents. The only time the legal name is different than the company name is for a sole proprietorship, when the legal name is the name of the person.

Fill in the rest of the boxes if you want and then click Next. When you select an industry, QuickBooks sets up the chart of accounts list with accounts typical for that industry. But you can change the chart of accounts later on if you want. If you don't find an industry that sounds right, you can pick General Product-based Business or General Services-based Business. They are at the very bottom of the list. Click Next. Select the type of company you have and QuickBooks assigns the correct tax form for your company file.

Most small businesses use the calendar year. In this case, leave January in the box and click Next. But if your fiscal year starts in a different month, choose it from the dropdown list. The administrator user can do anything in the company file, so you don't want to skip this step. Type the password you want in both boxes. Then click Next. To go ahead and create your company file, click Next.

Choose the folder where you want to create your company file. If you're the only person who works on the file, put it in a folder that you back up. If several people work on the file, put it somewhere they all can reach like a shared folder. QuickBooks sets the file type, so you can type the name for the file, if it's different than the company name, and click Save. It will take a couple of minutes for QuickBooks to create the file. After the file is created, you can start to customize QuickBooks for your business.

Click Next to continue. If you want to take a break, you can always click Leave and come back later. When you click Next, QuickBooks asks a series of questions about how your company works. For example, choose an option to tell QuickBooks what you sell and it sets up income accounts for you. If you don't want to accept an option that QuickBooks offers, just select the I don't option and click Next.

If you charge sales tax, select Yes and the program turns on the preferences for sales tax. Based on the industry you picked, the wizard recommends settings for your business. You can always change the preferences later. So for the most part, you can keep the choices the wizard makes. I am going to accept several of the options that QuickBooks recommends.

Multiple currencies is the one you have to be careful with. You can't turn multiple currencies off once they are turned on, so if you aren't sure whether you need multiple currencies, be sure to leave No selected. Remember the start date you learned about in the video on gathering information? Here is where you tell QuickBooks your start date. Click Next to continue.

You can review all the accounts that QuickBooks setup for you, and if they look right, click Next. When you see the Congratulations screen, your company setup is done. Click Finish to open your company file. You can register QuickBooks at this point or click Remind Me Later to get on with your work. Out of the box, QuickBooks turns on the QuickBooks Coach, which can help you get started using the program. The QuickBooks Coach panel opens up on the window.

When you click Start Working, the Coach begins displaying tips. It won't take long for the Coach to grow old. To turn off the tips, click Hide Coach Tips, or to turn them off permanently, on the Edit menu, choose Preferences. Click Desktop View. Turn off the Show Coach window and features check box, and click OK.

Now that your company file is opened you can start recording transactions and keeping your books with QuickBooks.

Find answers to the most frequently asked questions about QuickBooks Pro 2010 Essential Training.


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Q: I have QuickBooks Pro 2011. Will this course work for me?
A: Yes. The changes in QuickBooks Pro 2011 are minor, and all the information in QuickBooks 2010 Essential Training applies to QuickBooks 2011.
 
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