QuickBooks Desktop is one of the most popular accounting software used by small businesses and accountants. With its user-friendly interface and robust features, it makes accounting easy even for beginners. However, the software can seem overwhelming to navigate when you first start using it. This handbook aims to help new users understand the basic features and get started with using QuickBooks Desktop 2024.
Setting Up QuickBooks
When you first launch QuickBooks 2024, it prompts you to setup your company file. This involves entering key details about your business such as name, industry type, fiscal year, and more. Take your time to enter the details accurately as this forms the foundation for your books. You also need to setup user accounts for people accessing the file. Make sure you set permissions appropriately especially for sensitive areas like banking or payroll.
Understanding the Home Page
The home page in QuickBooks Desktop 2024 pricing is your go-to place to access all important tools. The icon bars on the top and left side of the screen helps navigate between areas like banking, sales, expenses, accounting, and reports. Getting familiar with the various modules available helps use the software more efficiently. Try hovering over each icon to view the options.
Setting Up Chart of Accounts
One of the first tasks is to setup a chart of accounts tailored to your business needs. This includes accounts for tracking income, expenses, assets, liabilities, and equity accounts. Build sub-accounts under these to track both balance sheet and income statement accounts. Take your time to think of all necessary accounts during setup, as editing later can get tedious.
Recording Day-to-Day Transactions
Recording everyday income and expenses in QuickBooks is essential for keeping accurate books. Transactions can be entered individually or imported from bank/credit accounts using the rules feature. Get into the habit of regularly entering transactions and reconcile accounts often to match with real world bank balances. This keeps errors to the minimal.
With some learning and practice, you will soon get the hang of things in QuickBooks Desktop 2024. Make use of the user guides and community forums for any questions. And don't forget to backup your company file regularly to avoid any data or file corruption issues. Happy bookkeeping!
