Setting Up Your QuickBooks Company File from Scratch

Creating a QuickBooks desktop company file might be a difficult task for users. As the company file carries all the financial information of the company, QuickBooks users are a bit dicey with the decision to create a company file on QuickBooks desktop on their own. The company file stores all the financial information and continues to grow.  The procedure for creating a company file doesn't involve any rocket science or does not require any technical expertise, all it needs is just an awareness of the process, which we'll be providing you with this blog. However, if you still feel the need to seek professional help, we advise you not to risk your data and immediately contact a specialist with recognized experience. No need to go far to find a team of renowned certified accounting professionals. Just give us a call at +1-800-910-3136 and our technical support team will be there to help you.

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What are the steps to create a new company file?

Below are the steps to create a new company file. Follow these steps:

·         Open QuickBooks Desktop.

·         In the No Company window open, select Create New Company File.

·         At this point you have two setup options:

Select Express Start or Start Setup if you want to start immediately.

·         Simply enter your business name, industry, and business type, then select Create Business File to create your business.

·         You can enter this information later.

·         Select Detailed Start if you want to do a complete setup so all your information is there from the start.

·         Follow the on-screen steps to complete the setup.

Note: If you have an existing company file in QuickBooks, give your new file a unique name.

·         This prevents QuickBooks from accidentally overwriting your data.

·         Select Start Working.

What are the Steps to Create a New Company File in QuickBooks Pro and Premier?

·         First of all, move to the File menu and opt for the Utilities option and then click on the Condense data.

·         The next step is to Rebuild all the outstanding balances in the accounts receivable either by recreating individual invoices or you can also Create balance forward invoice for a lump sum customer balance.

·         Now, from the Vendors menu, create all vendor balances along with the Enter bills option.

·         The bills will be directly charged to the un-categorized expense account, as opposed to individual expense accounts.

·         It should be noted that the payroll users can not avail of this feature due to critical payroll information in the payroll files.

·         Additionally, similar functionality is not available to QuickBooks Online Banking users due to financial institution time and security-related data.

A few more steps to follow:

·         It is necessary to click on the File menu and select the New Company option.

·         Then select the Start Maintenance option in the Easy Step Maintenance window.

·         Monitor execution of on-screen instructions and enter new business profile information.

Conclusion:

We hope that the solutions we provided in this post will be helpful to you in creating a new company file. If these steps do not help you resolve this issue or you have difficulty understanding how to perform these steps, we recommend that you contact our QuickBooks enterprise support team. Our team of QuickBooks experts will help you solve this problem in no time. Just dial our toll-free number +1-800-910-3136.