Setting up your company profile is one of the first and most important steps when getting started with QuickBooks Premier. Your company profile contains key information about your business that QuickBooks uses throughout the software. Taking the time to enter accurate details will ensure your financial data is recorded properly.
- Accessing the EasyStep Interview
- Entering your company and contact information
- Selecting your tax and accounting preferences
- Reviewing the Summary and finishing the Interview
Let’s get started!
Accessing the EasyStep Interview
The EasyStep Interview helps you quickly set up and customize QuickBooks for your company. Here’s how to access it:
- Open QuickBooks Premier and select “Create New Company” on the Home page. This will launch the EasyStep Interview.
- Click “Get started” and then “Next” on the Welcome screen.
- Select your company type – most choose “Basic Setup”.
- Click “Start Interview”. Now you’re ready to enter details about your company.
Entering Your Company and Contact Information
The first section collects information like your company name, industry type, federal tax ID number, and contact details. Have this information handy before you begin.
To enter your company profile details:
- Legal Company Name: Enter your registered or legal business name.
- Industry: Choose your industry type from the dropdown menu.
- Company Type: Select whether you’re a corporation, sole proprietorship, partnership, etc.
- Tax ID #: Enter your employer identification number (EIN) or Social Security number.
- Contact Information: Add your business address, phone, email, and website.
- Fiscal Year: Choose whether your fiscal year aligns with the calendar year or enters custom fiscal year start and end dates.
Double check that your company name, tax ID number, and contact information are entered accurately. Then click “Next”.
Selecting Your Tax and Accounting Preferences
The next section collects preferences related to sales tax, products/services, accounts, and more.
To set your tax and accounting preferences:
- Sales Tax: Indicate if you need to collect and remit sales tax.
- Products and Services: Select whether you sell products, services, or both.
- Account Numbers: Choose if you want QuickBooks to assign account numbers or if you’ll enter custom numbers.
- Accounts: Review the default accounts QuickBooks sets up for your chart of accounts. Most businesses use the defaults.
- Accountant Copy: Choose if you want to create an Accountant Copy file to share with your accountant.
- Receipts: Pick if you want to track both sales receipts and invoices or only invoices.
Again, the defaults work fine for most companies. Click “Next” when you’re done.
Reviewing the Summary and Finishing the Interview
You’re almost done! The final screen summarizes the company profile details you entered.
Review the Summary screen to make sure your entries are complete and accurate. Go back and edit anything that needs updating.
If everything looks good, click “Go to Setup” to finish the EasyStep Interview.
QuickBooks will finalize setting up your new company file. In a few moments, you’ll land on the Home Page and can begin using the software!
Congratulations – you just finished setting up your company profile in QuickBooks Premier!
Taking a few minutes now to enter accurate company information will save you time down the road. QuickBooks will leverage these details in many areas, from customizing invoices to preparing tax forms.
Now that your company profile is complete, you’re ready to continue setting up QuickBooks to match your business needs. Here are a few next steps to consider:
- Add your products and services
- Set up accounts, customers, vendors and employees
- Customize forms like invoices and sales receipts
- Review QuickBooks reports and accounting tools
- Import existing data from Excel or past software
We hope this guide helped explain the steps to set up your company profile in QuickBooks Premier. Setting up your business accurately from the start ensures you get the most out of QuickBooks.
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