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Quickbooks Setup and Training Tips Part 1

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QuickBooks is a household name in the accounting arena. This software, first launched in 2002, is used worldwide by small business owners. The ease of use, affordable programming, and numerous resources make QB one of the top accounting programs in the nations. The software boasts an assortment of features aimed at helping users manage each of their accounting functions, including accounts payable, accounts receivable, credit card management and financial reporting. Retailing at $199.99 for the “Pro” edition or about $300 for the “Premier edition (desktop version) in 2016, there are a variety of benefits small businesses receive for using QuickBooks.  Quickbooks now also offers an “online” version of their program that is another option to look at. With all these options, we’ve compiled a list of Quickbooks setup and training tips to help you get started.

Quickbooks Setup Tips

If you’re a small business is considering adopting QuickBooks as the go-to accounting software, you’ll appreciate these five useful tips.

Quickbooks Setup Tip #1: Convert to Quickbooks with the New year

quickbooks setupThe accounting process is less complicated if you move over to QuickBooks as of January 1st. Saving the move until this time – or moving quickly to start the fast-approaching new year – will save you headaches. Starting at the first of the year allows for a clean stopping point for old programs as well as an easy starting point for the new software.  Alternatively, starting in the middle of the year can make it difficult to track which transactions are entered into either the “new” or “old” software, increasing the chance to miss something important. Also, depending on the software you’re using, you may incur fees for ending a subscription before your contract, which can cycle at year’s end.

Quickbooks Setup Tip #2: Get Your CPA’s Help

The majority of CPA’s and accountants know about and how to use QuickBooks. In fact, they likely use it for one or more of their clients or even their own business. Your CPA or accounting professional can likely get your QB program up and running in no time. They can also provide you with a list of categories and subcategories that you will want to set up in you QB program. You may incur a fee for their help, but the dividends will pay out in the long run when you can move easily through the program. It may seem silly to pay your CPA/accountant for this type of help, after all, you just shelled out $200-$300 for the software; yet, just as a coach teaches his players the right way to swing the bat, a CPA or accounting professional can guide you through the jungle of accounting terms.

Quickbooks Setup Tip #3: Outsource Your Payroll

From our experience, business owners run into the most problems when it comes to their payroll. The tracking, accounting, taxing, filing, sorting, distributing, etc., etc., that comes with payroll can derail a simple accounting process in seconds. It is one of the trickiest and riskiest jobs in the small business bookkeeping world. Therefore, consider paying a service such as PayTech to handle this complex task. It will make the management of QuickBooks much easier.  Your accountant will be able to help you classify your payroll liabilities and expenses to the correct accounts so they reconcile with your quarterly and annual payroll tax reporting.

Quickbooks Setup Tip #4: Schedule Time to Learn

quickbooks setupQuickBooks has a vast array of features that expand every year. For a novice bookkeeper (aka the small business person that has to do the bookkeeping), it is important to dedicate time to learning about QuickBooks. When you are setting up QB, set time for QuickBooks training in your calendar. There are numerous resources on the QB website, complete with QuickBooks training videos, blogs, forums, and more. Schedule in one hour per week to learn more about the QB program.   PayTech offers QuickBooks training that includes a “starter” training program consisting of 2 personalized sessions at your business site with a QuickBooks ProAdvisor.  The cost starts at around $250 depending on your business location and training needs.’

Quickbooks Setup Tip #5: Ask About Quickbooks Online

QuickBooks online is another option available. As opposed to the desktop version, QuickBooks Online offers integrated syncing with your banks, which mean reconciling quicker. It allows you to snap photos of receipts and directly upload them to the program. It will match your income and expenses with transactions so you don’t have to! That means less time preparing for tax season. You can access the data from any computer, tablet, or smartphone, which means you can keep an eye on your business no matter where you are. QuickBooks Online also automatically saves you information, so you don’t have to remember to back it up once a week or more. QuickBooks desktop and online versions each have their strong points…Ask your QuickBooks ProAdvisor for help to decide which version is the best fit for you and your business.

For those of you with no time – or desire – to search out resources, allow our accounting team to teach you. Our patient and friendly staff can offer you support as you or one of your team members wades through the confusion of bookkeeping. We love this kind of stuff, which is why we started PayTech in the first place. But we know that not everyone thinks like we do, that’s why we are here to help with your accounting, payroll, and human resource needs. We take the monotonous stuff off your plate so you can focus on growing your business.


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