Steps Before Setting Up QuickBooks

Steps Before Setting up QuickBooks

What are the steps before setting up QuickBooks? If that is your question, perhaps you are like me. You are in the early stages of your building your business, but you are having some success and you now need to set up your QuickBooks.

If you are looking to answer that question: What are the steps before setting up QuickBooks, we, at Lee Davis and Company, would like to help you.

Let’s start by asking my Papa, the founder and CEO of Lee Davis and Company, our resident QuickBooks Pro-Advisor and all around business and QuickBooks expert.

Papa, what should we do before setting up QuickBooks?

Steps Before Setting Up QuickBooks:

Before you install the Quickbooks application, get your documents ready.

Make the process a lot more efficient by getting together the following business information:

Financial Records:

1. All Business and Personal Accounts

This includes bank and credit card statements used to operate your business.

2. Check Registers – used to record checks written. 

The check register will help with the detail on how to record the expense.

3. Credit Card Statements

If you have used your personal credit cards to start your business, gather all the statements and receipts to record them appropriately.

4. Business Income Register 

For companies that have been in business greater than a year, getting together the income you made by all sources will be helpful. 

If you are just starting up, a list of your customers will be helpful. 

If you have daily receipt summaries, they are also helpful.

5. Deposit Slips/Deposit Book

These records of deposits should have all deposits made to your business account.

6. Records of Bills Paid for Expenses

You need to have a record of bills paid for expenses that have been incurred in the operation of your business. 

These bills are important to determine how to correctly account for the expenses in your business. (See our post on expense tracking.)

7. Loan Documents

Compile any loan documents that you have for your business.

Tax Records:

1. Previous Year’s Tax Return

You need a complete copy of your last year tax return.

2. Employer Identification Number (EIN)

Dig up that tax document you got from the IRS, showing your Employer Identification number.

3. State and Local Documents

You might need information that you got from the state or local governments, like unemployment information.

Business Records:

1. Business Plan

If you are considering any type of small business loan, having a business plan is necessary. Check out our guide to getting a small business loan.

If you don’t have a business plan, I highly recommend that you work on that. I have found that it is a very important document to have, not just for your records, but to direct your business.

While that might sound overwhelming, I have discovered a simplified template on the SBA website, the Lean Start Up Plan, that makes putting together a business plan quick and painless.

2. List of Vendors and Customers

You need a complete list of your vendors and customers, along with their addresses including email address.

What are my takeaways from this post, steps before setting up QuickBooks?

1. Keep good records.

I am not a very good record keeper, but I have to become a good record keeper when I start my business.

Tip: I might suggest coming up with and writing down your methods of keeping good records.

  • There are many tricks in QuickBooks that my Papa recommends, like using your smartphone to take pictures of your receipts.
  • I also file things on my smartphone, which I love. I just take a screenshot of the file and save it on my phone. This might not be good for some sensitive information, but it works for a lot of things.
  • On your computer, you can also password protect documents and keep them in a file.
  • Perhaps, you should make a file on your computer with all of these documents listed above. It would be useful to have the EIN, business plan and tax returns in the same file on your computer.

2. I need to start keeping these records now.

My business is in its infancy, and because I really didn’t make any money in the first year, I really lost track of my spending and all of the documents that my Papa listed.

Because I intend to make money soon, I should be keeping track of all of my expenses and necessary documents for setting up QuickBooks.

Get a checklist for this post.

We would love to help you rock your QuickBooks, so we have made an easy checklist for you to have on hand when you set up your QuickBooks.

We hope that it will help you. If you find it helpful, we would love for you to share it with others who need help with their QuickBooks.

Thanks for allowing us help you with setting up your QuickBooks.

How can we help you with the Steps Before Setting up Your QuickBooks?

We would love to help you with the steps before setting up QuickBooks. There are a few things we could do for you:

We could:

  1. help you sort through your records to come up with the appropriate documents.
  2. set up your QuickBooks for you.
  3. train you before you use QuickBooks.
Lee Davis standing outside in the sunshine
Lee Davis and Company’s President, Lee Davis

What can you expect from Lee Davis and Company? 

Lee Davis is the president of Lee Davis and Company. He prides himself in helping his clients make their dreams of running a successful business a reality. He has the tools and advice that will help you, the client, get to the next level. 

What services can you find at Lee Davis and Company? 

  1. Bookkeeping Services
  2. Small Business Advising 
  3. Quickbooks Training
  4. Management Services

We are looking for a bookkeeper.

Hello, if you are reading this post, perhaps you are a bookkeeper or know someone who is a bookkeeper.

At Lee Davis and Company, we are looking to hire a bookkeeper to service the ever-growing number of clients that we have on our roster.

If you would like to throw your hat into the ring, we would love to meet you. Contact us through our website or email [email protected]

Read more posts by Lee Davis 

  1. Trouble Shooting for QuickBooks Set up
  2. Business Expense Tracking
  3. Navigating the Health Insurance Maze
  4. Set up your QuickBooks with Detailed Start

QuickBooks Self-Employed Training

30-Minute Uncommon QuickBooks Self-Employed Training

At Lee Davis and Company, we offer periodic 30-minute QuickBooks Self-Employed training sessions over Zoom that are interactive and designed with the learner in mind.

Compact for the Entrepreneur

These training sessions are meant to address some of the most common problems that our clients have with QuickBooks Self-Employed. As entrepreneurs ourselves, we know that it is difficult to find time in a busy schedule to gain a necessary skill. Thus, we have made this session concise and essential.

The Tips and Practice You Need to Succeed:

Our goal is to give you the tips and practice for QuickBooks Self-Employed that you need to succeed?

What are your issues with QuickBooks Self-Employed?

Do you have some specific problems that you are having with QuickBooks Self-Employed.

We have identified three of the most common problems users have with QuickBooks Self-Employed, and we will address those in this training session.

If we don’t address your specific questions during the training session, you can schedule a follow-up with Lee Davis, our QuickBooks Pro Advisor.

What makes us different?

A small business helping other small businesses

Lee Davis and Company is a small business that loves helping other small businesses succeed. Currently, we are helping over 40 clients in the New Hampshire area rock their QuickBooks.

Interactive Format

You could find a free tutorial on QuickBooks Self-Employed like this one. But in our training session, we will give you the tips that you need to succeed and we will answer your personal questions.

QuickBooks Self-Employed Training

If you notice, in the comments for this YouTube video, there are many questions that the viewers have, but there are no responses to the questions.

As a Pro-Advisor, Lee Davis can answer some of your specific questions that you have during the Zoom training session.

Designed with the Learner in Mind:

Furthermore, the father-daughter team of Lee Davis and Megan Davis designed this QuickBooks Self-Employed Training session to meet the needs of our clients.

Megan has a master’s degree from Boston University in Education and 10 years of experience designing learning materials, and Lee is a QuickBooks Certified Pro-Advisor with 40 years of management experience.

With their combined experience, Megan and Lee have designed a course that will help you understand and retain the information you learn.

Not Just a Lecture

Many of the training sessions available online for QuickBooks are just in a lecture format. There are no opportunities to practice what you learn.

YouTube has some good introductory information.

Again, you can find many lectures on QuickBooks Self-Employed that you can find on YouTube, like this one.

If this works for you, you should do the free course on YouTube. If you want, on the other hand, a training course that is designed to make sure you walk away with new skills, sign up for our training session.

The Format

of our QuickBooks Self-Employed

Training Session:

The course has an awesome format that will help you learn a portion of the material, apply the material and address issues that may arise in the application of the information.

  1. Issue #1 – (4 minutes) Lee discusses a common issue in QuickBooks Self-Employed
  2. Problem – (4 minutes) Check if you understand the material by doing a problem.
  3. Follow-up Questions – (2 minutes) Lee responds to one question about the material.
  4. Issue #2 – (4 minutes) Lee discusses another common issue in QuickBooks Self-Employed.
  5. Problem – (4 minutes) Check if you understand the material by doing a problem.
  6. Follow-up Questions – (2 minutes) Lee responds to one question about the material.
  7. Issue #3 – (4 minutes)Lee discusses a common issue in QuickBooks Self-Employed
  8. Problem – (4 minutes) Check if you understand the material by doing a problem.
  9. Follow-up Questions (2 minutes)- Lee responds to one question about the material.

This is a foundational class for QuickBooks Self-Employed. If you have a question that is not answered in our training session, we would like you to sign up for our individual training session or our four-part training course.

What this QuickBooks Self-Employed training course isn’t:

Moreover, this course isn’t like most accounting courses you’ve taken because we will not overwhelm you with information, and we will ask you to apply the information that you learn right away to test your understanding.

Get the Feeling of Accomplishment

If you are looking for that feeling of accomplishment from knowing, understanding and being able to use QuickBooks Self-Employed, this training is for you.

Everyone can master the QuickBooks software.

We believe that everyone has the ability to learn a subject. They just need the right coach and learning strategies to succeed at any learning endeavor.

Thus, all of our QuickBooks training courses are designed with this belief at the forefront; we believe that everyone can succeed at mastering the QuickBooks software, and we design our courses to make sure you do succeed.

This QuickBooks Self-Employed training course isn’t comprehensive.

This course is designed to give you some tips that will help you succeed when using the product. If you need an introduction and overview of QuickBooks Self-Employed, you should check out a free tutorial on YouTube or from Intuit.

Our 4-Part Zoom Course

If you need something more comprehensive, we suggest you take our four-part training course. You can take the course in its entirety or you can sign up for an individual section of the course.

We employ the same learning methods and strategies in our 4-Part Zoom Course to teach you how to use QuickBooks.

It starts with you!

Moreover, do you believe it? Do you believe that you can become better at using QuickBooks?

It starts with you. You need to believe, and then give us permission to teach you. We would love the opportunity to challenge any old ideas about accounting or QuickBooks.

Are you ready to better understand your business by understanding your numbers? We would like to help you with that.

When is our next QuickBooks Self-Employed Training Session?

November 9, 2020 at 10AM.

Where is our QuickBooks Self-Employed Training Session?


Sign up for the training session:

What can you expect from Lee Davis and Company? 

Lee Davis is the president of Lee Davis and Company. He prides himself in helping his clients make their dreams of running a successful business a reality. He has the tools and advice that will help you, the client, get to the next level. 

What services can you find at Lee Davis and Company? 

  1. Bookkeeping Services
  2. Small Business Advising 
  3. QuickBooks Training
  4. Management Services
Visit Us

Address: CoWork Peterborough, 6 School Street, Peterborough, NH 03458

Location: Across from Toadstool Bookstore parking lot and next to Movie Theater

Address: 836 Old County rd South, Francestown, NH, 03043