Getting Started with Quickbooks
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Getting Started with Quickbooks

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Getting Started with Quickbooks

Getting Started with Quickbooks

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    Getting Started with Quickbooks Getting Started with Quickbooks Presentation Transcript

    • Getting Started with Quickbooks Jim Locke, Principal ResultWorx Technology Group Norman Blieden, CPA
    • Agenda
      • Which version of Quickbooks is right for me?
      • Quickbooks Add-ons
      • Quickbooks Setup
      • CPA Tips
      • Establish Controls
      • Establish Procedures
      • Establish Standard Reports
      • Quickbooks Resources
    • Quickbooks Versions
      • Quickbooks Online ($12.95/mo)
      • Quickbooks Pro ($229 MSRP)
      • Quickbooks Premier ($399 MSRP)
        • General Business
        • Contractor
        • Manufacturing & Wholesale
        • Non-Profit
        • Professional Services
        • Retail
    • Quickbooks Add-ons
      • Payroll
      • Payment Solutions
        • Merchant Processing
        • Check Solutions
        • E-invoicing & Payments
      • Point of Sale Solutions
    • Quickbooks Setup
      • Gather configuration information
      • Install Quickbooks
      • Create a new company file
      • Complete the Easy-Step Interview
      • Setup your Quickbooks accounts
      • Establish a backup strategy
      • Customize forms
      • Order supplies (checks, deposit slips, etc.)
    • Preparation
      • Determine your start date
      • Gather financial information
        • Bank & credit card information
        • Accounts receivable & payable information
      • Gather list information
        • Customers, vendors, sales items, sales tax items
      • Perform a full inventory, if applicable
      • Account linking information for banks, credit cards, payroll, etc.
    • Create a Company Profile
      • Create your new company file
      • Complete the first part of the Easy-Step Interview
      • Save your company file
      • Make an initial backup copy of the new file
    • Setup Quickbooks Accounts
      • Create second part of Easy Step Interview
      • Setup bank and credit card accounts
      • Setup your chart of accounts
      • Setup Intuit Online Account
      • Setup Lists
    • Establish a Backup Strategy
      • Create a regular backup schedule for your Quickbooks data file.
      • Don’t use unencrypted media that can be easily lost or misplaced, like USB keys.
      • Make sure that the file is password protected
      • Keep copies of the data off-site
    • Customize Forms
      • Identify and customize the forms you use routinely, including:
        • Invoices
        • Purchase Orders
        • Checks
      • Add logos and information pertinent to your business
    • CPA Tips
      • Have your CPA review your Quickbooks setup
      • Don’t mix account types
        • Income
        • Cost of Goods Sold
        • Expense
        • Assets
        • Liabilities
      • Keep it simple!
        • Don’t go overboard on sub-accounts, etc.
        • Use classes to isolate divisions, not separate company files
    • More CPA Tips
      • Establish credit card accounts to track credit cards
      • Regularly reconcile your accounts
      • Safeguard prior-year transactions by creating a transaction password
      • Use automation where appropriate to link bank accounts, credit cards, etc to Quickbooks
        • Data is entered in a timely manner
        • Creates a physical control
    • Establish Controls
      • Quickbooks can be edited and has no audit trail
      • Establish strong password security
      • Consider securing Quickbooks by module
      • Establish physical staffing controls
      • Maintain an off-site backup
    • Establish Procedures
      • Establish daily/weekly processing procedures
        • Invoicing
        • Deposits
        • Purchasing
        • Inventory control
      • Establish end of month procedures, including:
        • Bank reconciliation
        • Monthly closing
        • Prepare financial reports
    • Establish Standard Reports Establish a list of reports for your business: Daily Weekly Monthly Daily Sales Report Accounts Receivable Profit & Loss Statement Daily Receipts Accounts Payable Balance Sheet Sales Tax Report Inventory Accounts Receivable Sales Month-to-Date Accounts Payable Check Register Inventory Bank Reconciliation
    • Resources
      • Intuit Resources
        • Quickbooks Online Community
        • Quickbooks on YouTube
        • Quickbooks Knowledgebase
        • Quickbooks ProAdvisor
      • Other Resources
        • Practical Quickbooks
        • Quickbooks & Beyond
        • Quickbooks for Contractors
      • Please feel free to contact us:
      • Jim Locke
      • (626) 296-6892
      • [email_address]
      • Follow Us:
        • Facebook.com/ResultWorx Twitter.com/ResultWorx
        • ResultWorx.com