Managing your Business Finances like a Pro: Getting Started


Begin managing your finances using QuickBooks with these simple steps and quick tips.

Getting Started
  • Consult with your accountant and discuss the use of QuickBooks
  • Buy and Install QuickBooks pro (You can buy through us here)
  • Structure your various accounts- Start with the minimum number of accounts, then expand.
  • Establish an accounting routine that works for you and stick to it.
  • Work with your accountant and keep in close contact all year round.


Good Accounting Habits
  • Record Transactions regularly. Including but not limited to:
  1.      Buying/Expense: bills, checks, credit, paying employees, contractors
  2.      Selling/Income: estimates, invoices, sales
  3.      Credit Card Transactions
  • Reconcile accounts monthy
  • Update financial statements quarterly
  • Be as accurate and Consistant as possible
  • Fix mistakes as they happen (They are fixable!)

Set Up Your Budget
It is simple to set up your company’s budget in QuickBooks. The program allows you to create one budget per fiscal year for each account, customer or job, and class combination. More than one budget can be created if they are for separate categories.

How to Start: From the Company menu in QuickBooks, choose Planning and Budgeting, then Set up Budgets.

Customize your QuickBooks
How to start: From the edit menu, choose “My Preferences” for personal usage then “Company Preferences” for changes applicable to all users.

“My Preferences” changes the look, feel, and behavior of your personal usage of QuickBooks. You can customize everything from the color to the usage of spell check.

“Company Preferences” changes the look, feel and behavior of users throughout the company. You can set the default ehaviors to warn you if a duplicate invoice number is being used, see cash or accrual basis regarding graphs, and much more.

Explore your options to see what is right for you and your company.


Now you are ready to go! If you need QuickBooks support you can call us at 775-348-9225.

Visit our website!
Visit our Twitter!


Comments

  1. Milliscent MorganAugust 3, 2012 at 4:19 PM

    I found this information so great, so better to keep on posting regarding on quickbooks proadvisor phoenix.

    ReplyDelete

Post a Comment

Popular posts from this blog

How to "Un" Apply Credits In QuickBooks

Image
Got a QuickBooks Mess? Call The QuickBooks Gal! Welcome to the QuickBooks Minute. I’m Jayne Miller, the QuickBooks Gal Recently, one of our Reno QuickBooks customers asked about "unapplying" credits in QuickBooks. While there are nicely labeled apply credits buttons, there are none marked unapply. This is the case for both customers (invoicing) and vendors (paying bills). So here is how it is done: For customers, it is a fairly easy process. Go to the invoice to which the credit was applied. Then click on the "Apply Credits" button. In the lower half of the new window that pops up is a list of Previously Applied Credits. Simply find the one, or ones you wish to unapply and click on the check mark next to it to make the check mark disappear. The credit will no longer be applied or tied to that invoice. For Vendors, i.e. bill payments, it is not as clean and simple. The only way to unapply a credit in such a case is to Delete the credit. You can then ...
Read more

QuickBooks Password Protection

QuickBooks now requires your employees to enter a password to view their pay stubs when you e-mail them. QuickBooks generates the passwords automatically; each password consists of the first four letters of the employee's last name followed by the last four digits of their Social Security number. Examples Name:                            SSN:                         Pay Stub Password: Ben Narramore              855-56-4545             narr4545 Deb D'Spain                  782-34-3419     ...
Read more

Changes to Quickbooks Online: April 2019

Image
Coming April, subscibers of Quickbooks Online will be experiencing some changes.  Here's what to expect: According to an email sent out by Quickbooks last week: " Beginning  April 10  and over the coming year, usage limits will go into effect for all QuickBooks Online Simple Start, Essentials, Plus, and Advanced customer". Quickbooks want to make sure they are giving their customers the ultimate experience for their buck. Therefore, they are implementing a variety of plans with usage limits to best fit your business. With this, Intuit has developed a Quickbooks Online Advanced edition for the most avid Quickbooks users who need the most capacity and functionality.  This being said, Quickbooks wants to make sure you are informed about adding additional users before the deadline, " You can stay in your current plan and keep all your data. But you won't be able to manually add an account, user, class or location if it will put you over the lim...
Read more