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Working with the Data File
After you install, its time to get to work. Knowing where to begin can be a daunting task. You may also have a need to explore data issues. This wiki covers a broad range of subjects, from user tips and tricks to sorting out data issues.

Get started using the QuickBooks EasyStep Interview

If you are not sure where to begin when starting a new QuickBooks company file, the EasyStep Interview is a great way to set one up.

The QuickBooks EasyStep Interview is an optional "wizard" that takes you step-by-step through the basic tasks to set up QuickBooks to manage information about your company.

Don't worry if you are not sure how to answer a question, you can usually go back and change your answers while you're in the interview, or you can change your answer in QuickBooks later.

As you use QuickBooks, you will be asked to provide additional information when it is needed.

What will I need to complete the EasyStep Interview?

Determine the date that you'll start tracking information about your company in QuickBooks.
Your main bank account statements (such as business checking account and/or payroll account) dated just before your start date.
Your Federal Employer Identification Number (EIN) or Social Security number (found on your IRS tax return).

Enter your Company Information

While you are only required to fill in your company name, we recommend you complete this form as fully as possible. Why? By providing your company information one time, QuickBooks can use this information to fill out your forms—invoices, estimates, tax forms—each time you use them.

Once you start using QuickBooks you can easily change this company information. And, once you change it, the updated information will be used in all your QuickBooks forms.

QuickBooks does not use your company information as registration information.

Select your industry

Use this window to select your industry; QuickBooks will use the industry you select to set up the company files that meet your needs.

How does QuickBooks use my industry selection?

Your industry selection is used to recommend features that work best for your business.

What if I do not see my industry?

Choose the industry that is most similar to yours to see account recommendations for the selection. If you do not see a similar industry, choose either General Product-based Business or General Service-based Business.

How can I decide which industry is most similar to my own?

QuickBooks will make recommendations for features based on the industry you select. If you don't see your exact industry, select one that functions like yours — that has similar relationships with customers and vendors.

Some Examples:

If your business is: You could choose:
Food service-related Restaurant, Caterer, or Bar
Massage therapist General Service-based Business
Chiropractor General Service-based Business
Web page designer Design, Architecture, or Engineering

Select your company organization

Select how your company is organized for tax purposes. QuickBooks will use your selection to associate each income and expense account with the appropriate tax form lines on your income tax return, so it's easier for you or your accountant to prepare your company's income tax statement.

What if I don't know which organization is correct for my business?

In choosing what type of organization you want your business to be, think carefully about your business and personal needs. The organization type you choose will affect your business in many ways. It is recommended that you consult a tax expert or an attorney. In choosing what type of organization you want your business to be, consider the following:

Initial costs
How income is taxed
Other tax considerations such as self-employment tax and allowable deductions
The level of liability risk you're willing to accept
Ongoing regulations and requirements
The importance of raising outside money
The duration of the business' life

Depending on your needs, one type of organization will probably better suit your business than the others. If you outgrow one organization type, you can generally reorganize into a more suitable type.

Select the first month of your fiscal year

Use this window to select the first month of the 12-month period during which you will track your finances. Many businesses use January as the first month of their fiscal year to coincide with their income tax year, which also makes it easier to prepare their company's income tax statement.

QuickBooks uses your selection to set the default date range for certain reports and graphs.
You can choose a month other than January if your business is seasonal and does not match the calendar year.

Create an administrator password

We recommend you create an administrator password. After you create your company file—the file that contains all of your information in QuickBooks—and complete the EasyStep Interview, QuickBooks will require you enter the password whenever you open the company file. You'll open the company file anytime you exit and return to QuickBooks or any time you choose to open a company file from within QuickBooks. Creating an administrator password provides immediate protection of your QuickBooks data.

Important!!: You can create a user that has almost all of the rights that an admin user has. It is a best practice for the owner of the company to be the admin for the company file. All too often, whether intentional or not, an employee with the admin password leaves without telling anyone what it is. You can save yourself some unnecessary down time and a call to technical support by never giving out the admin password for the QuickBooks company file. You can see by clicking here, that functions specific to the admin are very few.

After this you will save the company file. The rest of the interview goes through options like setting up income and expense accounts, whether or not you charge sales tax and whether you track inventory. Most of these questions are adjusting preferences. If you get through the interview and want to make other changes, just select Edit>Preferences.

How do I start using QuickBooks?

QuickBooks is a powerful tool that can do many things. Still, there are some basic tasks that most people want to do as they begin using QuickBooks. Choose the type of task that you're most interested in doing.

Start with the tutorials by selecting Help>Learning Center Tutorials.

The Learning Center tutorials give you a "big picture" overview of important concepts in QuickBooks, as well as step-by-step instructions for key tasks.

Get local expert assistance.Edit Table Cell...

Learn from experience. Our Expert Locator can help you find accounting and small business assistance right in your area.

Navigating Tricky Transactions

Ever wanted to know how to set up a line of credit or properly track prepaid expenses in QuickBooks? The following webinar was presented in May of 2008. Our guest was Trevor Matheson of Real World Training. If this webinar is helpful, you can check out some of their other great QuickBooks training resources. The following subjects are covered in this one hour session:

Lines of Credit
ATMs, EFTs and Debit Card Transactions
Memorizing Bank Drafts
Prepaid Expenses
Vendor Deposits
Support Schedules

Click here to load the webinar.

Character Limits in QuickBooks and Enterprise Solutions

The following is a list of the maximum number of characters (letters, numbers and so on) that you can enter in the fields specified:

Account Name: 31
Account Numbers: 7
Amount: 99,999,999.99 (Maximum number allowed)
Custom field (Items): 30
Customer message (Invoices): 101
Customer, Item, Vendor and Othernames: 41
Employee Name (first and last): 25
Item description (Invoices): 4095
Item Part number: 31
Job Description: 99
Memo: 4095
Note Field: 4095
Notes in Shipping/Billing Address: 41
Password: 16
Ship to Name: 41
Text Box: 1000

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Last update: Jun 4 2009, 12:16 PM EDT by Host_AskAmyK (content history | content tools) (help)

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