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Level 3

Checklist of what you'll need to set up a new business in Quickbooks

Hi Everyone!

I hope to develop a checklist of items you can ask a customer to set up their Quickbooks. Here's what I have sop far. please help me add:

1. Company name, address, phone number, email address, etc.

2. Business structure (DBA, C corp, S corp, etc) and Tax ID

3. Cash basis or Accrual based accounting

4. Bank account numbers and statements

5. Credit card account numbers and statements

6. All previous tax forms (Federal, State, Local, Sales taxes, Payroll taxes)

7. All tax account numbers

8. State and local tax %s and taxing entity name for payments.

9. Chart of account names they use for income, other assets, expenses, equity including owner's.

10. Logo's for company and if they want on their invoices and statements

11. Payment terms for customers

12. Existing customers names, address, phone numbers, emails.

13. Existing vendors and all contact info and available payment terms.

14. Information they want on their invoices to customers.

15. All business locations and if they bill differently such as another state with different sales taxes and taxing entities.

 

whew, that's a start. What else can we add?

 

 

Solved
Best answer September 26, 2018

Best Answers
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Anonymous
Not applicable

Checklist of what you'll need to set up a new business in Quickbooks

Hey @Michelle_ProAdv,

 

This is an awesome start. To go with #4, what about online bank account information since importing transactions will really help users starting out with their historical data?

View solution in original post

9 Comments 9
Highlighted
Anonymous
Not applicable

Checklist of what you'll need to set up a new business in Quickbooks

Hey @Michelle_ProAdv,

 

This is an awesome start. To go with #4, what about online bank account information since importing transactions will really help users starting out with their historical data?

View solution in original post

Highlighted
Level 3

Checklist of what you'll need to set up a new business in Quickbooks

Thank you, James!

Great idea. We need to add all banks and cc online info so we can import and later update and reconcile!

 

Perfect add on!

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Community Champion

Checklist of what you'll need to set up a new business in Quickbooks

HI @Michelle_ProAdv,

 

You know that saying be careful what you ask for..... @Anonymous is the secret gatekeeper of all things checklist oriented with Intuit. 

 

QuickBooks Desktop Client File Review Checklist

 

The link takes you to a massive checklist that all of the things we could think of to go through while evaluating a potential clients file.  With your permission, I would like to take you list and add anything that may be missing so I can continue to grow the list for anyone to use. Would that be OK?

 

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Level 3

Checklist of what you'll need to set up a new business in Quickbooks

Hi Parkwaylnc

 

 

 

Highlighted
Anonymous
Not applicable

Checklist of what you'll need to set up a new business in Quickbooks

@Michelle_ProAdv,

 

Happy to help, and thanks @ParkwayInc for the endorsement. We made a few "getting started list" articles in collaboration with folks like @ParkwayInc:

We'd love to see more!!

 

 

Highlighted
Level 1

Checklist of what you'll need to set up a new business in Quickbooks

New business owners DO NOT  use QB for invoicing or processing credit cards from clients. They do take your hard earned money from your clients but do not give it to you like they said they would. Its beyond the 5 day waiting period , its beyond the 2 day account transaction review, its beyond weeks now!  I initiated contact, not them like it should be when they hold your money for no reason with no explanation. I have not got a response as to why they stole my money. They are unreachable.  No reply or communication from anyone that can help.   DO NOT use them as you will never see your money nor ever get the courtesy of an explanation. They told me my account was clear & ready to process payments.  They didn't tell me I would never get the money once they took it from my client.

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Level 8

Checklist of what you'll need to set up a new business in Quickbooks

I would add under #3 which is:

 

3. Cash basis or Accrual based accounting

4. Cash basis or Accrual based for taxes??

 

Then would add:

I would ask Fiscal year ending 12/31 or ?

What pay periods they use for timesheets and payroll?

How often do they do billing, monthly or semimonthly?

Highlighted
Level 3

Checklist of what you'll need to set up a new business in Quickbooks

Good ideas! 

Thank you, Teri

Highlighted
Level 1

Checklist of what you'll need to set up a new business in Quickbooks

I would add any loan accounts and potentially any fixed assets, especially if the company is not a "new" company, just new to QB.

 

Also, I would setup equity accounts for each owner showing draws and contributions.

 

You will also need an item list for items they sell along with existing inventory and basis.

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