How to Set Up New Company File in Quickbooks

QuickBooks helps you in creating a new company file every year, including your data, invoices, transactions, list of workers, vehicles, and bills up-to-date with proper dates, time, and cause of transactions. It highlights every financial work throughout the year in an easy and efficient way. Setting Up New Company File It provides enhanced protection for business obligations and maintains a complete view of sale items, import items, vendors, budget, customers, etc.

You need to have full information about the business so that you can easily create the company file.

The steps for creating a company file are as follows:-

1. Firstly, open the QuickBooks Desktop
2. Now you need to create a new company
3. After this, you have 2 ways to create the new company file
   1. If you selected the Detailed Start, then you need to enter all the detailed information to get it started.
   2. If you selected the Express Start, then it only asks you for the business type, industry, and business name for creating the company file.
4. After this, do follow the instructions of installation that you need to follow one by another
5. Give this company file a new and unique name so it cannot be clashed with another one and also prevent from overwriting your data.

There following ways to Set Up your new company file in QuickBooks:

1. By  Express Start, and
2. By Advanced Setup,

However, the use of Express Setup is easier. You need to tell About Your Business, which is consisted of basic business information such as:

• Company Name,
• Business,
• Setting Up New Company File,
• Company Type, with the drop-down menu,
• Industry type, with drop-down choice, and
• HST.

Points To Set up Company File Using Express Start

1. Click express setup from QB’S setup dialogue box.
2. Quickbooks needs to specify your business name, that appears on invoices that you send to customers.
3. Identify your industry type.
4. Click the company type field, specify your tax return and taxpayer identification number.
5. Specify whether your business employed waged people.
6. Click to continue and provide your business information.
7. Then, click Ok to save your new file.

Advantages Of Company File

1: It helps new users by providing sample files included charts and on-line video tutorials that provide information regarding both product and service based companies.

2: This not only provides you safe records with complete backup but also provides an option to change information regarding your business from QuickBooks setup dialogue box to USA & Canada Toll-Free ☎ contact .

Source: 99accounting