Small Business Meet QuickBooks
August 5, 2014

Small Business Meet QuickBooks


The latest and most popular software trending in the business world today is QuickBooks. Small business owners have acquired this software in order to manage their business more efficiently and effectively. However, many are unclear on how to install or operate the program once they have acquired it. If you are new to QuickBooks here are a few tips on how to get started.

Hire A QuickBooks Professional

If you are new to QuickBooks, it is recommended that you hire a QuickBooks professional. At Verdeja, De Armas & Trujillo, LLC, we can save you time and anguish with a single or few consultations. Our bookkeeping services also include establishing your QuickBooks file correctly and showing you the basic functions of the software.

Establish QuickBooks Correctly The First Time

It’s important to establish QuickBooks correctly from the beginning. Some common errors include: not knowing how to correctly set up QuickBooks, overlooking basic functions, setting up a credit card as an expense account and not reconciling the bank account. At Verdeja, De Armas & Trujillo, LLC, we can assist you in avoiding these errors and getting you where you want your business to be.

Use the QuickBooks EasyStep Interview

We recommend using The QuickBooks EasyStep Interview because it is a great way to walk you through the steps of establishing a QuickBooks company file. A series of questions will be asked to set up your file properly. These questions are generally about your company and consist of basic contact information, entity type and tax ID numbers. It is important to fill out all of the information that you can obtain. Don’t worry if you are unsure about some of the information or any of the questions that the set up wizard asks. You can always manipulate the information later and turn on or off many of the functions in QuickBooks.

Familiarize Yourself With The Home Screen

The QuickBooks home screen is a good resource for performing many of QuickBooks functions. The home screen is categorized into five major sections: vendors, customers, employees, company and banking. Some of the sections have flow charts to guide you through some of the more common QuickBooks functions.

Bank Reconciliation Is The Most Important Monthly Task

Bank Reconciliation is the most important QuickBooks and bookkeeping task of the month. Reconciliation in QuickBooks is so important because it is the only way that you can verify that all of your data is in QuickBooks. Ensuring that you have properly coded all your transactions is also another thing to consider.  Reconciling your accounts with your CPA or accountant gives them a good starting point for being able to review your data and prepare your tax return. Keep in mind that you should reconcile all of your accounts that have a statement (credit cards, loans and lines of credit) not just your bank accounts. You can reconcile any account that has a statement date with a beginning and ending balance.

If you are new to QuickBooks and not sure how to install or operate it, the professionals at Verdeja & De Armas LLP can assist you with any questions or problems you may have. Contact us today for a consultation!