Getting Started with QuickBooks Accounting Tool
Posted by Kevin Reynolds on April 25, 2013
Every business owner knows that keeping everything organized and in one place is critical to running efficiently. That means managing, reporting, and using key information such as expenses, income, purchases, orders, taxes, and finances proficiently. It all comes down to accounting, and one of the best software answers in this digital age is QuickBooks. The simple fact is that QuickBooks is a powerful, streamlined way of managing a business’ finances.
To get started with QuickBooks, the very first thing to do is to migrate your business’ finances into QuickBooks. The program needs certain bits of information such as your obligations regarding local or state regulators, the correct conventions for tracking expenses, and your business structure.
Becoming familiar with QuickBooks is the next step, and the easiest way to do that is by using the “Getting Started” tutorial. QuickBooks uses terms like “Getting Around” to map the flow of revenue (“Money In”) and expenses (“Money Out”), so it’s a good idea to familiarize yourself with its terms and the way it thinks about managing bills sent and received and your costs.
The next critical step is protecting your business and its funds by changing your password in the “Your Account” section. This should be done before entering any sensitive financial information, and just as important is changing the password for QuickBooks and your banking ID every quarter to maintain maximum security. Once that’s done, you can change your “Preferences” by entering your company’s financial details. Information such as reporting calendar, tax ID number, reporting forms, and business structure should all be entered, double-checking for errors.
This is just the start for a software as efficient and intelligent as QuickBooks. To maximize its use, pair QuickBooks with Rapid Inventory to really enhance and improve your business greatly.