How to Set Up QuickBooks to Start a Business Online

QuickBooks comes with particular item types and accounts that let you sell goods and services online. While installing this accounting program for the first time, you can provide the information via an Express Start Setup Wizard. Online businesses require involving a list of services, products, vendors, employees, and customers. In addition, the appropriate company tax forms and the office information should be entered to get the benefits of all the QuickBooks accounting features.

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Since most of the online businesses don’t take sales tax, you must consider customizing your sales tax options. To get additional information about its usage, you can call QuickBooks online customer service specialists and seek the instant help. Also, check the steps given below to set your QuickBooks program up to run your online business.

  1. Click the ‘File,’ and then the ‘New Company’ option if the Setup Wizard doesn’t automatically display while opening QuickBooks.
  2. Click the ‘Express Start’ option and input the information about your business. Enter the Company Name, Country and Start Date details into the fields.
  3. Input the details for the optional, if relevant. Optional fields contain the Legal Name, however, if it differs from the company name and address and your federal ID.
  4. Click ‘Income Tax Form Used’ drop-down menu and choose the income tax form, which is labeled by the company type such as a Corporation or Sole Proprietor, you use for your business.Click ‘Next.’
  5. Choose ‘Industry’ from the drop-down menu and then an option that best defines your business. Choose the ‘Retail Shop or Online Commerce’ for online stores that retail products and the ‘General Service-Based Business’ for online firms that sell services.
  6. Remove the account from the Accounts list, which you don’t want. Consider using more accounts, such as Cash in Drawer,Service Sales,Miscellaneous Funds, Dues, and Subscriptions, or Employee Advances. If you have any queries about the accounts to choose, consult your accountant.
  7. Click ‘Expert Settings’ and modify the first month in the tax and financial years if you don’t want to start your business from January. Remove the checkbox ‘Customers are charged Sales Tax’ if you don’t want to charge sales tax. Click the ‘Finish,’ and then ‘OK’ button.

Customers, Employees and Vendors Setup

  1. Click on the ‘Vendors’ icon, ‘Customer Center’ or ‘Employee Center’ relying on the contact type you wish to add.
  2. Choose the option to insert a new employee, customer or vendor. Input the contact name in the Name box. Click on the ‘New Employee’ tab to reveal the related button.
  3. Complete the contact information for your employees and vendors by filling the relevant boxes.
  4. Click on each tab for your existing contacts and enter the relevant details prompted. Customers with unpaid balances must have the negative balance recorded in the Opening Balance.
  5. Click the ‘Next’ button to save information of contact and insert another of the same kind. Alternatively, click the ‘OK’ button and input the details for the next connection type.

Services and Products Setup

  1. Click on the ‘Edit’ menu, followed by the ‘Preferences.’ Choose the ‘Items & Inventory’ and then ‘Items & Stock’ option, subsequently.
  2. Click the ‘Company Preferences’ tab, and then check the box next to the ‘Inventory and Purchase Orders Are Active.’ Click the ‘OK’ button.
  3. In the Company section, click the ‘Home’ button and then choose the ‘Items & Services’ option. Click the ‘Item’ and then the ‘New’ button.
  4. Choose the ‘Inventory Part’ from the drop-down menu to insert a product to sell.
  5. Input the item name/number into the ‘Item Name/Number’ box. If you have a sub-item, then check the box next to the ‘Sub-Item Of’ and enter the parent’s item name in the drop-down list.
  6. Finish the remaining fields in the ‘New Item’ window. Type an item description in the ‘Sales Information’ field for your consumers to see. Insert the sales charge, whether the item is total inventory, taxes, and the income account for sales revenue to be deposited.
  7. Click the ‘OK’ button to save the details to close thewindow. Choose the ‘Next’ button to save the product and insert a new one.

If you want to know more about the online account setup using QuickBooks, you can dial QuickBooks customer service phone number and seek the solution from experts to solve out your queries efficiently.