QuickBooks Must-Have's

QuickBooks Must-Have's

These are the QuickBooks must-haves—if you do not have the following names and accounts, then you must create new ones:

Account Name: You may make a payment via debit or credit card, so make sure you have a name for each bank account and credit card. To create a new account:

Go to the Lists menu
Select Chart of Accounts
Choose New from the Account drop-down
Select an account type, then select Continue
Fill in all the account details
Select Save & Close

Customer:Job: Even if you do not want to track your purchases by Customer, we still strongly advise that you create a new Customer and just name it after your company. Add a new Customer:

Go to the Customers menu at the top and choose Customer Center
Above the Customers & Jobs tab, click the New Customer & Job drop-down to select New Customer

Vendor Name: Add a new Vendor

Go to the Vendors menu at the top and choose Vendor Center
Above the Vendors tab, click the New Vendor drop-down to select New Vendor

Items: Add a new Item

Go to Lists
Select Item List
On the Item List window, select Item then New
Select the type of item you want to create
If it's a Sub-item, select the checkbox and find the Item it's under
Leave the description blank, as it auto-populates when you import
Select Save

Class: If you want to use Classes, you need to make sure that you turn on Class Tracking:

Turn on Class Tracking

Open your company file
Go to the Edit menu, then select Preferences
Select Accounting, then go to the Company Preferences tab
Select the Use class tracking for transactions checkbox
If you want a reminder when you haven't assigned a class, select the Prompt to assign classes checkbox
Select OK

Add a new Class

Go to the Lists menu
Select Class List
Choose New from the Class drop-down
Enter the class name
If it's a subclass, select the Subclass of checkbox and find the class it's under
Select OK to add it