What Does Setting Up QuickBooks Entail?

Although QuickBooks is designed for the layman to understand, the initial setup and installation must be done correctly in order for future information to be accurate.

All information necessary to setup manual accounting records is also necessary to setup QuickBooks. There are additional steps required if you switch from manual accounting operations to QuickBooks in the middle of the year.

Once you decide to use QuickBooks, there are several decisions you will need to make including:

  • Which accounting method will you use?
  • What chart of accounts do you need for your business?
  • How do you handle beginning balances?
  • How do you get prior data into your file?

An expert can easily answer all of these questions and complete the initial Setup and Installation in a timely manner. In addition, your accounting employees can receive training on the accounting software to enhance their performance.

How Much Does it Cost?

Before quoting an exact price, it’s important for us to learn more about your business and accounting records. Rest assured that we work with many small business owners and our rates are designed to fit the budgets of our clients.

As with any accounting software program, installation and training take time – time taken away from managing your business. Here’s a short list of the services we provide during your QuickBooks setup:

  • Study and evaluate your subscription or software and accounting needs.
  • Recommend software and hardware requirements.
  • Install software, design and set up chart of accounts and entire accounting package including payroll, accounts receivable, inventory, accounts payable, etc.
  • Determination of your QuickBooks starting date.
  • Loading your chart of account and balances as of that starting date.
  • Prepare a list of the items that you sell to your customers. This list includes services, inventory parts, non-inventory parts, other charges and sales taxes.
  • Entering your outstanding accounts receivable and accounts payable details as of your starting date.
  • Entering your ending statement bank balances and outstanding checks and deposits in transit as of your starting date.
  • Comparing data from QuickBooks to your prior software.
  • Entering your transactions since your starting dates into QuickBooks.
  • Train client or client staff in use of software to meet their accounting, management and tax needs.

 

We Also Provide Ongoing Services Including:

  • Follow up training to ensure the client is on the right track
  • Monthly, quarterly or annual review of client QuickBooks data to assist in tax preparation and management reports

Bowers & Company CPAs aims to offer helpful information to our clients and friends. Learn more about how we can help should your business need accounting and financial services.

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Patty Mills

Patty Mills

Patricia Mills, CPA, is the Partner-in-charge of Client Accounting Services at Bowers & Company CPAs PLLC. Reach her at 315-234-1189 or plm@bcpllc.com. Bowers & Company aims to offer helpful information to our clients and friends. Learn more about how we can help should your business need accounting services.

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