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Getting Started Checklist

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Hello Community! You may have seen our Getting Started in QuickBooks Online article that gives you all the details to get your account up and running. Short on time? No worries, this is for you! 

Take a look at my quick and easy outline of setting up your account. Feel free to look over and check off what you’ve done!

Enter Company Information (Gear Icon > Account and Settings > Company)

  1. Add Company name, Business address, email, and other pertinent information.
  2. Choose your company type and the tax form you plan to file at the end of your fiscal year.
  3. Have your Employer Identification Number or (EIN) or Social Security number. 
  4. Upload your company logo.

Add your Accounting details (Gear Icon > Account and Settings > Advanced > Accounting)

  1. In this section, select the first month of your fiscal year and the first month of your income tax year.
  2. Choose your Accounting Method: cash or accrual.
  3. Set a date 12 months from your start date to “close the books” for the fiscal year. This feature prevents anyone from changing or editing your QuickBooks data as you prepare for tax filing.

Select your accounting currency (Gear Icon > Account and Settings > Advanced > Currency)

  1. Choose your home currency. This is the one you plan to use to accept payments from customers.
  2. Turn Multicurrency on (if applicable to your business). Only use this feature if you have bank accounts, customers, or vendors that don’t use your home currency.

Sales Form Settings (Gear Icon > Account and Settings > Sales)

  1. Decide if you want to track inventory.
  2. Set your default Net Payment invoice terms.
  3. Set up Sales Tax.

Create your first Invoice (+New > Invoices or Invoicing > Invoices tab)

  1. Look into QuickBooks Payments and see if it’s right for you. 
  2. Use our QuickBooks Test Drive to familiarize yourself without using real data.
  3. Adding Products and Services, Customers, and Vendors to Lists in QuickBooks Online
  4. Customizing Invoices Within QuickBooks Online.

And there you have it! Whether you’re using the checklist or using our complete guide, you’re on the right track to be an expert in no time.

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