Hi I am new to quickbooks and I am trying to setup my accounts. I am a self employed contractor. My first issues i encountered I dont know how to correctly identifyy

Welcome to the QuickBooks family, tunji-binitie.

When creating a new company, QuickBooks requires you to select a type of Company and Industry types first. This information determines the chart of accounts your business will use.

Here’s how to set up:

1. You’ll have to log in first to your new account.
2. Click on the Gear icon located in the upper right-hand corner and select Account and Settings.
   
3. On the Company tab, click on the Pencil icon for Company type.
   
4. From the Tax form drop-down, select the business type.
   
5. Then, input the Industry type.
   
6. Click on Save and Done.
   
   

Now that you’re finished configuring your QuickBooks, you can start creating the accounts. If you’re still unsure which specific Account and Detail types to use, I suggest consulting an accountant for further guidance.

I’m also adding a link with detailed instructions on how to add or edit an account: Chart of Accounts.

To learn more about the features in QBO and how this can help you seamlessly run the business, check out this link: Online Tutorials.

You should now be able to create accounts smoothly.

Let me know how these steps work for you. I want to make sure this is taken care of.

Hi Lisa, 

This sounds good, and I was able to setup my company type successfully. Unfortunately, it seems that I would need a lot of help with setting up the COA, and I do not know any accountant that can help. Can you recommend someone for a fee? I think it is a great software , but given the sensitive nature of accounting, I do not want to make any mistakes . Therefore i would need the help of a professional, at least for the initial setup. 

Thanks,