Chapter Summary: Create A New Company File Using Easystep Interview

Chapter Summary
 Create a new company file using EasyStep Interview.

1.) Open Quickbooks
2.) In the Dialog box open, click the Other Options button
3.) On the “Create Company File” screen, click Next.
4.) Navigate to the folder where you want to store your company
file.QuickBooks automatically sets the “File name” box to the company
name you entered, and the “Save as type” box to “QuickBooks Files
(*.QBW, *.QBA).”
5.) Click Save in the “Filename for New Company” dialog box, it may take a
minute or so to create the new file.
6.) When the company file is ready, the “Customizing QuickBooks for your
business” screen appears.
7.) Click Next to dig in.
 Set up company preferences
Preferences provide a way for turning certain features on or off, which

changes the look of the QuickBooks Accountant desktop, and customizing
how QuickBooks Accountant performs.
1) To setup company preferences is to click Preferences in the Edit

Menu
2) Look for Accounting at the top of the preferences and click it.
3) Choose Report and Graphs on the left side then click on My
Preferences or Company Preferences Option.
How to set up Quickbooks My Preferences?
My preferences sets the direction you make QuickBooks work. You
choose the settings that will apply your user account.
1) Graphs Only Preferences
2) Reports and Graphs Preferences
3) Prompt me to modify report options before opening a report.
 Set up company items

Items- represents the products or services you buy or sell.
-save time and increase consistency on sales and
purchase forms.
The best time to create items is after you’ve created your accounts but
before you start purchasing goods from vendors or invoicing customers.
Each item type has its own assortment of fields, but the overall process of
creating an item is the same for every type.
1) On the QuickBooks Home Page, click Items and Services
open the Item List window.
2) Click Item→New.
3) To create a Service item, just press Tab to proceed with
naming the item.
4) In the Item Name/Number box, type a unique identifier for the
item.
5) To make this item a subitem, turn on the “Subitem of”
checkbox, and then,
6) choose the item that you want to act as the parent.
7) Complete the other fields as described in the following
sections for the type of item you’re creating.
8) If you have additional items to create, click Next to save the
current item and start another. If you want to save the item
you just created and close the New Item window, click OK.
 Set up customers, vendors, and accounts

Creating a new customer
1) In the Customer Center toolbar, click New Customer and
Job→New Customer.
2) In the Customer Name field, type a unique name or code for this
customer, following the naming convention you’ve chosen.
3) To save this customer’s record and close the New Customer
window, click OK.
Adding more customers
1) Click the Contacts tab in the window’s lower-right pane.
2) To add a new contact, click Manage Contacts at the bottom of the
pane, and
3) Choose Add New to open the Contacts window.
4) Fill in the boxes, such as Job Title, First Name, Last Name, and
so on. In the Contact Type drop-down list, choose Primary
Contact, Secondary Contact, or Additional Contact.
5) Click “Save and New” to add another contact or “Save and Close”
to close the window.
Creating a new job
1) In the Customer Center’s Customers & Jobs tab, right-click the
customer you want to create a job for, and then choose Add Job
from the shortcut menu.
2) In the Job Name box, type a name for the job.
3) If you want to add info about the job type, dates, or status, click
the Job Info tab and enter values in the appropriate fields.
4) After you’ve filled in the job fields, click OK to save the job and
close the New Job window.
Creating a vendor
You create a new vendor from the Vendor Center window in the
Vendor Center menu bar
These sections explain how to fill out the rest of the fields in a vendor
record:
 Address Info
Address and contact information is needed to vendors when
printing check and envelopes to pay bills. New Vendor
window’s Address Info tab has field for the vendor’s address
and contact info,
 Payment Settings
The following fields related to payments are:
 Account No.
 Payment terms
 Print name on check as
 Credit limit
 Billing rate level
 Tax Settings
There are 2 tax-related fields:
 Vendor Id
 Vendor eligible for 1099
 Account Settings
Account Settings tab of the New Vendor window lets you
tell QuickBooks which accounts you normally use.
 Set up payroll and employees
Part of the payroll process includes withholding taxes from employees’

paychecks and sending that money to government agencies.
The following are IDs, accounts, and forms you need for payroll:
 Employer Identification Number (EIN).
 An Electronic Federal Tax Payment System (EFTPS)
account.
 A state payroll account.
The different payroll service level offers are:
 Basic Payroll
 Enhanced Payroll
 Full Service Payroll
How to record transactions from a payroll tax?
1) Create a vendor for your payroll transactions.
2) Choose Banking→Write Checks.
3) In the No. field, type EFT for “electronic funds transfer.”
4) In the Pay To The Order Of field, type the name of the
payroll vendor you just set up.
5) If necessary, on the window’s Expenses tab, fill in the
Account and Amount fields for each payroll expense.
6) When the transaction is correct, click Save & Close.
 Create a backup file.
1) In QuickBooks, go to the File menu and select Switch to Single-user Mode.

2) Go to the File menu again and hover over Back up Company. Then
select Create Local Backup.
3) In the window, select Local Backup and then Next.
4) In the Local Backup Only section, select Browse and select where you
want to save your backup company file.
5) Set the number of backups you want to keep. This is optional
6) In the Online and Local Backup section, select Complete verification. This
runs a test to make sure your backup file is in good shape before you
save.
7) When ready, select OK.
8) Select Save it now and schedule future backups and then Next. Or if you
don't want to save a backup now, select Only schedule future backups.
9) Select the Save backup copy automatically when I close my company
file checkbox. Then select the number of times between backups.
10)To create a schedule, select New. Fill out the data fields to create a
backup schedule. You can set a specific time or day of the week.
11) After you set your schedule, select OK. QuickBooks asks you to enter
your Windows sign-in password. This gives QuickBooks permission to run
the scheduled backup.
12) When you're ready to create your backup, select Finish.

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Chapter Summary

 Create a new company file using EasyStep Interview.

 Set up company preferences

Preferences provide a way for turning certain features on or off, which

1) To setup company preferences is to click Preferences in the Edit

 Set up company items

 Set up customers, vendors, and accounts

 Set up payroll and employees

Part of the payroll process includes withholding taxes from employees’

 Create a backup file.

1) In QuickBooks, go to the File menu and select Switch to Single-user Mode.

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