Need help with your QuickBooks setup

We have helped hundreds of businesses and organisations get started and improve efficiency with QuickBooks Online and QuickBooks Desktop. Effective QuickBooks Setup is key to your success.

Setting up your QuickBooks file in an appropriate way to meet your business needs is one of the most important considerations when you start with or move to QuickBooks Online

A poor or inappropriate set up can lead to poor quality data entry, misleading reporting, incorrect vat submissions and business inefficiency.

We will review your set up and when appropriate recommend changes to assist you in making the most of your QuickBooks software and improve efficiency.

Once your QuickBooks is set up effectively and you understand how QuickBooks thinks and behaves you will be confident in the processes you are using and the information that QuickBooks delivers.

To find out more about how Katara training can help, contact us now to get in touch or call 01256 764406

Here are some of the common questions we are asked when it comes to QuickBooks setup


How easy is it to setup a business on QuickBooks Online?


QuickBooks will provide basic lists that can help you to get started. However it’s worth investing the time to refine this set up before you start posting. Give some thought to how you would like your key reports to be presented and the level of detail that you need to see.


Making sure you have an effective list structure in QuickBooks will save you time and money in the long run


What are the main areas I need to consider when setting up a business on QBOL?


Getting you list structure working for you is key. You should also consider how you wish to approach QuickBooks when it comes to the processing of transactions. Which automations will work well for your business or organisation.?


Can you setup my business structure with me during a QuickBooks training session?


We can help you to set up QuickBooks to meet your needs. If you are already up and running we can review how your QuickBooks is set up and offer recommendation to improve accuracy and the depth of reporting


Where do I get started?


A good start point is to look at the different versions of QuickBooks and decide which version meet your needs. From Simple start to Online + you will find functionality that meets your immediate needs and understand how you can add features as your business grows. If you need help selecting the right QuickBooks version for your business please feel free to give us a call on 01256 764406 or request a call back.


What the first action I should take?


When you first sign in to QuickBooks you will be asked which functions you will be using. Don’t worry you can always go back and change your mind. One thing you will need to do is to add a bank account to your QuickBooks file.


Should I connect my bank account?


If you are a fan of automation and reducing the time you spend on your bookkeeping connecting the bank can be a bigtime saver.


Not everybody id comfortable with connecting the bank. You have the option of starting with manual entry and connecting later.


As you might expect I am a fan of automation, but only in the right circumstances.


What about the Vat settings?


If you switch Vat on in QuickBooks make sure you have input the correct VAT settings. Understanding and applying the correct Vat set up is key to a successful first vat return. If you are new to Vat we can walk you through the first return to make sure you set up is good and your vat process make sense including using QuickBooks to submit your Vat returns under MTD ( Making Tax Digital)


Can you help to bring in the opening balances into the QuickBooks setup ?


If you are already trading before you start using QuickBooks you may need help with Opening debtors (Customer balances) , Creditor ( supplier balance) and bank. It’s important that these balances are entered correctly, taking account of Vat if you are registered.


What is open balance equity?


Open Balance Equity is a control account in QuickBooks used when entering opening balances. The account should clear to Nil once you have finished the opening balance processes.


Can I up or downgrade my QuickBooks version if I have purchased the wrong version?


Yes, you can change your mind if your business needs change and you need to make use of a higher or lower version of QuickBooks. If you are not sure which version you need feel free to to in touch


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used with permission

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To find out more about how Katara training can help, click below to get in touch or call 01256 764406

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