QuickBooks
Desktop Company file generally consists of financial records of a
business. If you are planning to start out with QuickBooks, the first
thing you need to do is to create a company file. If by any chance you
have an existing company file, the file will be upgraded and one would
identify if it is the right time to start a new company file to replace
the old file.
Let’s discuss how to set a new QuickBooks Desktop company file from scratch
You need to make sure that if you already have an existing company file saved on the system and you want to create a new company file,
a unique name will be used. If the same name is been used for the new
company file, it will override the existing company file and the data
will be lost.
Follow the steps:
- QuickBooks Desktop will be opened
- Choose “Create a new company” option from “No Company Open” window
- Now, choose Express Start or Detailed Start
You need to follow the steps under Express Start:
- You need to fill the necessary information in the QuickBooks Setup window. Please note that you need to select “Help me choose” to see a description for every business type and the present chart of accounts that will be created by QuickBooks for you per industry
- “Create Company” option will be selected
- Once the company file is created, you need start creating the customers, chart of accounts and services. It can also be created by choosing “Start Working” option later
You need to follow the steps under Detailed Start:
- You need to fill up the Every Step Interview screen and the “Next” option will be selected
- Now, choose the option, “Industry” and then “Next” option
- The type of business entity will be identified and then the “Next” option will be selected
- You need to set the first month of the fiscal year and then choose the Next option
- Now, you need to set QuickBooks administrator password and then choose the Next option
- Select the location where you would like to save the company file and then the “Save” option will be chosen
- Now, choose the Next option to customize QuickBooks or it can be done later by choosing Leave option
