How To Use QuickBooks: A Comprehensive Guide




QuickBooks is a feature-rich accounting software that performs many accounting tasks. In addition, the software helps businesses stay organized despite large amounts of data.

It rarely means what the nature of your business is but there is a need to keep an accurate set of books. Unsystematic and Disorganized business accounts do not work in the long period. To avoid these kinds of inherent problems, QuickBooks helps to make your business accounting job very manageable and easy.

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QuickBooks is an all-in-one business accounting software solution for small or medium-sized businesses. It helps you to track income and expenses, billings and payrolls, manage customers, and many more. But similar to any new item of software, it needs learning the idiom and the steps to become more proficient, as it can effectively manage all your business accounting. Now let’s discuss how to use Quickbooks without any hassle.

7 Simple Steps To Use QuickBooks & Getting started

1. Install QuickBooks:

Install QuickBooks on your computer. While installing you got a prompt on your screen that says to choose Custom or Network options. If you want to use QuickBooks on only one computer and require not to share files with other computers, then select  “I’ll be using QuickBooks on this computer.” If you want other computers will also allow to access the files, select the proper option for your business to manage network sharing. After that designate the folder where you need to install the program.

2. Gather Financial papers:

Collect all the important financial papers that required to set up your QuickBooks files. Usually, the required items include your business name and address, tax ID number, and financial statement.

3. Create Company File:

Create a company file. To launch the program, select the QuickBooks desktop icon. If you are using the first time then it will give the choice to use EasyStep Interview Wizard to drive the process of setting up your company file. If you are completely new to QuickBooks or have never used QuickBooks before then get the help of the wizard option and watch the beginner’s tutorial to learn more.

4. Set up and manage the vendor accounts:

To manage the vendor account. Go to the “Vendor Center” in the top toolbar and select the “New Vendor” button to create a vendor account. Click “New Transaction” to add a transaction. QuickBooks can also link to Excel if you want to export your vendor information, or Word if you want to draft a letter to your vendors. Go to the “Excel” or “Word” to perform these actions

5. Set up and manage your employee accounts:

Click on “”Employee Center” to create and manage employee accounts. Choose “New Employee” to add employee information. Click on the “Transaction” tab to add paycheck and other transactions. Use the “Enter Time” option to manage timesheets.

6. Create and manage customer accounts:

Unlike vendor and employee accounts that involve your expenses, customer accounts track your income and the money you owe. Go to the “Customer Center” and later select  “New Customer and Job” to add a new source of income. Choose “New Transaction” to add transactions like invoices, estimates, and payments. Similar to the vendor accounts, you can also export customer information to Excel or create letters through Word.

7. Generate Reports:

Make the report by “Report Center”. Use this facility to take advantage of financial areas of your business such as profit and loss statement, receivable report or budget.

10 Tips on How To Use QuickBooks More Effectively

Here we will discuss important tips on how to use QuickBooks more effectively and also help you to increase productivity.

Start with Spreadsheet Design

As you are at the initial stage and learning how to use Quickbooks, keep in mind, as in development – the underlying design and structure will greatly hit your final outcomes! So follow these steps for better outcomes in the beginning.

  • Start with a working copy of your accounts and lists to establish how you want your QuickBooks to function.
  • When you are still considering, a spreadsheet can be a useful way to sort, organize and group different elements …

Re-examine & Fix Your Company Preferences

QuickBooks permits you to modify your company preferences to structure data, reports, and features that you do and do not want to use. Make preferences that match the way your company does business.

Learn To Use QuickBooks’ Lists Feature

Lists of QuickBooks help to integrate information and reduce data-entry cores. Creatively using those lists allows you to customize reports and get the information needed to make management and pricing decisions.

Group Your Costs

Manage your chart of accounts to group costs by business function. This step will provide you with immediate information on expenses from a control and decision-making point of view.

Examine how to Productively Use Your Customer Job List

A customer job facility allows you to track all financial transactions for a particular customer. This enables you to provide estimated costs, purchase orders, bills, employee time, payments, etc. for each task.

Create Your Own Names for Vendors

QuickBooks enables to create unique vendor names. It implies that you can able to enter vendors and auto-recall cost assignments while managing the seller’s formal name for payment.

Learn to customize QuickBooks reports according to your requirement

Company owners, personal departments, and accountants all require separate reports, formats, and procedures. Once you identify what the individual needs and when you understand how the QuickBooks system is used, you can customize the report to satisfy the different needs of your company.

Learn to Monitor Important Information in QuickBooks

QuickBooks allows you to set up accounts and items that will collect and report information that is important to you. For example, You can add a “direct labor-overtime” account and payroll items. Then you can quickly see and monitor direct labor overtime costs – overall, by job, or by the employee.

Learn to Use QuickBooks Help Features

QuickBooks offers several onscreen features:

  • Press F1 if you need help with the window.
  • Help Index: In the Help window, highlight and choose a proper word to see descriptions, specifications, examples and relevant topics.
  • How Do I?: Activity found in windows. “How do I do?” Click on Button, and a drop-down menu will appear. Just choose the answer to your question.

Get skilled! Learn how to act like an expert

Learn different navigation methods to act smartly with QuickBooks: 

  • Navigation windows
  • Pull-down menus
  • Icons
  • QuickBooks Centers
  • Shortcut keys

QuickBooks is amazing accounting software for your business but apart from this, it’s also important how efficiently you use this software to increase your productivity. That’s why we are here with the article on how to use QuickBooks and also the 10 tips on how to use QuickBooks more effectively.

I hope this article will be fruitful to understand how to use QuickBooks. If still, you have any problem or issue while using or installing QuickBooks then feel free to contact us on +1-855-441-4417 and discuss your queries with our Intuit certified ProAdvisor. We will be more than happy to help you out with your problem.

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Author: Editor Team
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