How do I set up my QuickBooks Correctly

So how can I set up my QuickBooks correctly? This is one of the most common questions I get via email actually got an email earlier this morning and I really liked what the email said, show your screenshot of that. However, I’m trying to set up my QuickBooks in order but I don’t seem to catch up as a really common theme that I get on the emails is trying to catch up something my QuickBooks is messed up or not set up correctly or have too many accounts or to a little items are not enough items are too many items and I can I can pretty much get a functional I can do invoices print checks is the most common thing that I get I can do all that. But I can get my bank balances to match, and I feel like a lot of transactions are not categorized correctly. Sometimes he feels like deposits are being duplicated. I’m spending way too much time trying to figure this out. I’m a graphic designer, not an accountant. I feel that I’m spending way too much time for the stuff and that there has to be a better way to speed things up so I can concentrate on working with my clients. Can you or someone on your team help us and what were the cost be okay so is a very common question I have almost every day I get to three emails like that?


Things which everyone should remeber:

That is just is not as simple as the video takes a look. There are balances from previous years, there are potential errors, it feels difficult to catch up. So in this article cannot talk about one of the things that I look at when I help people set up the QuickBooks correctly and get on the right track and I couldn’t make a video long enough that we cover every single possibility of what’s wrong with your QuickBooks file and Whisenant set up correctly but on this article, walk you through one of the things I do when I sit down with someone for the first time ever, I never met him before to look at the QuickBooks and in an attempt to within maybe two or three hours. Sit down cleared up train them short and how to do a right get them on real-time data and make them feel very comfortable so they can go along and run the business. While there QuickBooks is in order.


  • The first thing I look at is beginning balances so if there’s a tax return for last year. I want to make sure that whatever the other accountant did in terms of beginning balances that I bring all those balances in.
  • I also want to look at the chart of accounts are there enough accounts are there too many accounts are there redundant accounts of their accounts that don’t match the industry or the situation and they can just walk the user through okay these are the income account. You should be using for this circumstances. These are the expense and cost of goods sold accounts. You should be using for that circumstance I was submerging the accounts are duplicated and redundant and deletes the stuff that you don’t need.
  • Now there’s another area on the chart of accounts is really important, which is your bank accounts or credit card accounts your loans. All these things need to be created with the correct beginning balances so they can roll forward to the current year as your reconciling and be keeping up with them in real time not connecting the banks or credit cards really important.
  • Most major banks allow you to establish a connection from your QuickBooks and your bank so I downloaded transactions in real time. The problem is, sometimes we connect them and we don’t get enough transactions or sometimes we connect them and we get duplicate transactions.
  • So part of the process of setting up QuickBooks is making sure that all those duplicates are deleted, but you’re only bringing in the new stuff that needs to be brought in and you know how to categorize them correctly as they come in and you set up the bank rules.
  • So QuickBooks is automating some of the more common predictable types of transactions, like if you keep going to the same gas station QuickBooks should be categorizing it correctly but in some cases QuickBooks is smart but not that smart and will start categorizing stuff that you know it’s supposed to be something else entirely different category that really has nothing to do with what you actually spent in the place and the problem is again QuickBooks is trying to do things for you but sometimes you can even cause a bigger mess. You have to know how to get into the bank feeds in the bank rules and change all that. None another thing that we tend to do a lot is “clean up and catch up.
  • So cleanup, for the most part, is deleting stuff is not supposed to be their stuff that is in clear the bank so we go through the reconciliation process and delete everything that I do potential duplicate or something. Entered by error and catch up means getting your banks reconciled up to let say last month saw Alicia working on the current month and you and you can and you can work in real time because at any point in time when you’re trying to catch up with your own books and your two months behind.
  • Most behind that stuff is really discouraging and it tends to turn people down away from accounting and it tends to be even a bigger issue altogether, which is they just use QuickBooks to print checks or gestures QuickBooks for invoices and they ignore everything else in the no longer QuickBooks becomes useful for making decisions so we think is really important to catch up so you only have 23. That’s a 10 transactions data enter and he doesn’t feel an overwhelming process. The thing that we do is basic workflow so you know how to enter your estimates or invoices your payments enter your purchase orders, your bills, your bill payments.

Processing tasks inside QuickBooks:

You have to know how to how the process works inside QuickBooks and how it adapts to your industry because not everyone does in invoices. Not everyone does inventory not everyone does purchase orders. Not everyone manages Accounts Payable. Not everyone does budget summon every company and every situation is different. So once we understand kinda what your business is and what you sell and and and what your base is all about walking out the sign couple of basic workflows and teach you how to do it are that way, what you’re doing makes sense and it actually does match a real-life transaction that we do a report creation. That is the really important piece was your corruption beginning balance are correct.

How do I get information out of QuickBooks in a meaningful way so I can make decisions with this information in your decisions could be something like filing a tax return or making some prepayments to tax or hiring someone or firing someone by more inventory lesson, but Tori figuring out which clients make you profit which was don’t so you can start your weaning off the type of projects. I don’t that they are not profitable and focus on the projects that are so those type of custom reports coming to play really, really handy when it comes to that.

And lastly, we do what’s called closing the books so will make sure that everything is reconciled to last month or last year. Whatever happens, to be locked those books down faster, protect them, so you can ask or use them for a tax return and no one can touch them served as an audit election. Have a great backup for your audit. So, unfortunately, it’s just really really hard to give someone a price, especially with emails like that when people say is my situation. I need to catch up. Give me a price I really don’t know how much time as caretakers are not complex is going to be I don’t know if you can, a 1 m maybe login remotely and help you catch up 12 months worth of transactions. I don’t know if maybe one hour is enough for me to give you all the tools and that you take over. I don’t know how long it’s going to take and I don’t know how much work is going to be how many people I office will be involved so I can just give a price up front, but I asked most people to budget between two to $500 and I was it’s kind of a good starting point. Now I have had some companies that have been to $3000 just getting cleaned up, but it was worth it because that information becomes really handy for running the business afterwards. Also decisive your business matters.

You know if you have a really small basis are worth spending $500,000 and catching up last year other people tell me you know what just somehow the last month take over from there and then we go we go something short like one hour two hours, so I’m not a big fan of charging by the hour. I prefer to charge based on value and based on the results that I bring, but in these type of engagements like Hector just help me get caught up help me use my QuickBooks correctly so I can move forward with my business. For that, like a set, a budget between two to $500 and that will go from there. So if you can have a situation like this. Email me send me a list of all the things that you think is wrong, send me a list of all the things that you would like to learn what the agenda is like. I will put together a one-on-one session with myself for someone else in my team to connect go through your QuickBooks go through step-by-step what you need to do to learn it. I clean it up and then get you set up so you can run it on your own in real time, and you can feel confident about running your books and hopefully were just the one meeting or two meetings. I will be good from there so we could also help you with your accounting all year long.

We could also help you with taxes and unite I can do whatever you asked me to do, but my sweet spot. Our sweet spot is helping you with that getting your QuickBooks in order to run your books on your own, you call us maybe once or twice a year for a couple questions here and there, but that you feel confident that everything in there who owes you who you owe inventory value all the stuff it’s it’s real information and a stuff that you can use to the pen to make decisions on so that really is goalless. And I’m also going to put a link to this article that I was showing you what I was reading below in the description become is a really really good starting point and also helps us plan any training session so we can set up. Thank you


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How to Create Custom Estimate in QuickBooks


Maxim last year we created an estimate but it looks pretty plain. So what spice it up and let our estimate better represent your brand.


  • So let’s get back into it from the dashboard of the overdue sales.
  • Click on rodeo customers right here on the far right where it says create invoices, go ahead and click on create estimates and will route to do was just have couple want to know about this service or this and that one hour.
  • Get to what would happen with the I button so about that pause for station identification hours one hour $10 this and that.
  • Check out here in the bottom middle click on customize now it’s broken up you go to new style you want to leave without saving surely we need back that doesn’t take that long to type in one hour so is broken up into okay for create estimates that turn heads and open wallets.
  • Content emails and payments will just be called as templates one just like that.


For example, one now there’s a bunch of things you can do so. We got our design or content or emails payments for design is how we wanted to look at her colour a logo. I imagine your company has a couple of colours that represented these colours may be on your logo, your decals, your uniforms, let’s upload an image. I’ve got my old Village Park source logo just like that. I like that the colour is a little bit too bright to go with the darker green. I like that that’s good to go get choosy with your font. Let’s go from Helvetica to Times New Roman and Times New Roman and speculative bigger when in doubt, print out and good in that department.



Let’s content maybe some of the stuff we need some of the stuff we do not need. It’s got three little pencils over here. That means we can edit this information. Maybe you don’t have your phone number on it maybe don’t have your business name for numbers we can on click that sale that’s gone there at County your call emails. This is got so backed content for the site you can get rid of some of the stuff you got a broken on your rate your quantity your amount. If you have a lot of products need an SKU number you can add it in that regard, I want to go back to design and really fast. I want to change the template though I don’t like this. I think friendly is the most professional, click on friendly let’s go with bold now was too much ink will go with modern and I know we can move our logo around the little bit and put that over there estimate middle discount play around that there are no right or wrong emails. This is kind of your stock what to say when it shows up in their email. Here’s your invoice.


No, let’s go from the click on that down to estimate dear about a ruffled number. Please review the estimate below. Feel free to contest. Contact us to give me questions. We look forward to working with you. Thanks for doing. Thanks for your business can be. Right now I am at my coffee and Danes at the subject in here useful name you got a couple more options and that’s kind of just payments is over here being a show bank transfer free. I don’t think you can do PayPal you can you PayPal I like that and we are going to click done and we saved it is template one so if you ever go back to estimates. Let’s go on it apnea so my pin my Internet bill so ready to back to customize again and it should show up template one. There is fraud or another estimate. Soon after, keep re-creating that every single time there’s an estimate or an invoice. Invoices can work the same way if you guys want a tutorial for that. Let me know that is how you create a custom estimate in QuickBooks online.