how to setup quickbooks online

There is no denying the fact that accounting and bookkeeping is a challenging task for every business owner, especially for those who have no idea about managing the books. To make their life simple and to facilitate the smooth functioning of their business, Intuit has come into role. This software allows you to manage your business, sales, expenses and all other points associated with the same. Wondering about how to setup QuickBooks Online? Worry not and read the blog to the end to know the step-by-step procedure and certain important points regarding the same. 

What is QB Online?

Before proceeding further, it is imperative to know about the QB online software. It is a perfect accounting solution for small and medium-sized businesses. One can access this software from anywhere and at any time; all you need is the stable internet connection to work on this software. It is equipped with plenty of benefits and features that will surely make your business smooth and easy. QuickBooks Online is cloud-based software that is specially designed for financial management. This will slash the time that you usually spend on managing your business finances by helping you with tasks such as creating invoices, creating estimates and a lot more. 

Steps to setup QuickBooks Online

Now, you might be thinking – How to setup QuickBooks online? Well, let me tell you the fact that signing up for a QuickBooks online account is not at all difficult and you can easily do the same in a few steps. However, one wrong step can create a mess and thus, you should follow the guidelines and exact process to setup your account. Apply the following steps one by one to complete setting up the procedure.

Step 1: Enter your Company Information

Enter your Company Information

To initiate the process, you will first have to add your company details. Check the out the procedure here to complete the same. 

  • Add the basic information about your company such as name, phone number and address.
  • Double-click the information to display the same on your invoices.
  • Place the company logo in the square format.
  • Tap on the Next button and add – Industry Type, Company Type, and Payroll Details. 

Step 2: Setup a chart of Accounts

Add your chart of accounts is extremely important if they have been saved in different window. Following details should be entered in this step:

Setup a chart of Accounts

  • Income
  • Credit Card Accounts
  • Liabilities
  • Assets
  • Cost of Goods
  • Expenses

You can edit the char of accounts in the Accounting tab. Once you are done with the editing and changes, jump to the Next button and you will be asked for adding the following information to proceed further. 

  • Category Type
  • Sub account
  • Name
  • Description
  • Balance

Double-click the information and click to save the entered information. 

Step 3: Get your bank accounts connected

  • Select Connect Accounts.
  • Choose the bank account from the list.
  • Sign in to your bank account by adding the asked credentials. 
  • Pick the bank account you wish to connect with. Always keep in mind that one account that is related to your business. 
  • Before proceeding further, match the transactions with the information entered in the chart of accounts. 

Step 4: Prepare Invoice Templates

Invoice Templates

  • Go to the Custom Form Styles under Company and make invoice templates. You can edit the same in the following terms:
  • Logo
  • Fonts
  • Color Scheme
  • Margins for printing
  • Content
  • Reminder Email

Step 5: Add products and services

Add products and services

  • Go to the Settings tab and tap on the Lists. 
  • Select to add products and services. Once you are done with selecting the same, enter the following information:
  • Product or Service type
  • Name
  • Photo
  • SKU
  • Sales Information
  • Category
  • Income Account
  • Click on the Save button to get your information stored. 

Step 6: Add Vendors and Customers

Add Vendors and Customers

  • Click on the Home tab.
  • Jump to add an item.
  • Enter the following details:
  • Customer or vendor detail
  • Billing information for customers
  • Payment method
  • Click on the Save button.

Step 7: Prepare Statements

  • To create the statement, make the list of transactions and items that have been purchased.
  • Add the aging table to the invoice.

I hope now you got the answer to your question: How to Setup QuickBooks online? Still facing trouble? Connect Call Support for the QuickBooks Online +1-800-729-1746 and get your issues fixed in less than no time. 

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