Running through the Setup Interview for QuickBooks Simple Start
When you know very well what entity form your company will use and have the QuickBooks Simple Start software installed, you’re ready to put up the QuickBooks data file. The data file is the container that QuickBooks Simple Start uses to hold your financial information.
To operate through the Setup Interview, you begin the QuickBooks Simple Start program after which, when prompted by QuickBooks, step through the Setup Interview:
1. Start QuickBooks Simple Start.
Before beginning the interview, you have to start QuickBooks Simple Start. To do so, double-click the QuickBooks Simple Start icon, which appears on the Windows desktop. Or, choose Start –> Programs and then click on the menu choices that lead to QuickBooks.
The real fun begins at this point. The Setup Interview starts automatically, displaying the Setup Interview dialog box.
2. Describe your company.
To begin with the interview, click the Next button. The Setup Interview displays a window that asks you to enter your company’s name and address. Fill in the blanks aided by the requested information.
3. Identify your entity form choice.
To carry on using the interview, click Next. The Setup Interview displays a window (not shown) that asks which entity form you’ve chosen for your needs. Here’s how you answer fully the question that this dialog box asks:
• If you’ve chosen to operate as a single proprietorship or as a single-member LLC that'll be treated for tax purposes as a single proprietorship, look at the Sole Proprietorship button.
• If you’ve chosen to operate as a partnership or as a multiple-member LLC which is treated as a partnership for income tax purposes, check the Partnership or Limited Liability Company button.
• If you’ve chosen to operate as an S corporation (this could be because you incorporated and then elected S status or since you put up an LLC and then double-elected S status), look at the S corporation button.
• If you’ve chosen to operate as a C corporation (this might be since you incorporate or setup an LLC after which elected to be treated as a corporation), check out the Corporation button.
• If you’re using QuickBooks Simple Start for a church or a nonprofit organization of some kind, needless to say, check out the Non-Profit Organization button.
4. Describe how you’ll bill your customers.
Click Next to go to the Setup Interview dialog box that asks how you’ll bill your customer. Mostly, you just answer the questions that the Setup Interview asks.
• Describe whether people pay in cash or on time. Note that first question about whether people pay you during the time of sale (presumably with cash or a check) or later once you invoice them? You'll want to answer this question by selecting the correct button. QuickBooks uses your question to the question to ascertain whether you want to print sales receipts (because yours is a point-of-sale business) or invoices (because you bill people after which they pay you later) or both.
• Specify whether you create estimates for customers. See that second question? The one that asks whether you create estimates — essentially “best guess” invoices — for the customers? You will need to answer this question, too. Should you choose create (or perhaps you want to create) estimates, select Yes. If you don’t, select No.
• Indicate if your prospects are subject to sales tax. If they are, click the Yes button. If you click the Yes button, you have to label the sales tax you pay, specify the tax rate, and name the tax agency to which you remit the sales taxes.
5. Create the QuickBooks company file.
Click Next to maneuver to the next Setup Interview dialog box. This dialog box informs you that QuickBooks is regarding the verge of fabricating the business file that’ll store your accounting information. Everything you need to do is click Next. So click Next. Once you do, QuickBooks displays the Save As dialog box. Make use of this dialog box to mention the QuickBooks company file. You just go into the filename in to the file name box and also you click Save.
You may use the Save In box (shown at the top of the Save As dialog box) to specify the folder location that you want QuickBooks to use for the company file. But don’t do so. QuickBooks can lose monitoring of for which you store the company file if you place it someplace crazy and then create one or more company file. You don’t want to lose your company file.
After QuickBooks Simple Start creates the organization file, it displays the typical QuickBooks Simple Start program window. Here is the same window you’ll see to any extent further when you start QuickBooks.