How to set up your company within QuickBooks Online

It’s important to clarify that «registering a company on QuickBooks» differs from legally registering your business with government entities. QuickBooks is accounting software; it helps you manage your company’s finances after you’ve legally established it. So, I’ll explain how to set up your company’s information within QuickBooks Online.

Here’s a step-by-step guide to setting up your company within QuickBooks Online:

1. Sign Up for QuickBooks Online:

• Choose a Plan:
  • Visit the QuickBooks Online website and select a subscription plan that suits your business needs. QuickBooks offers various plans with different features and pricing.
  • Consider factors like the number of users, the need for inventory tracking, and payroll integration when choosing a plan.
• Create an Account:
  • Provide your email address and create a password to establish your Intuit account.
  • You may be offered a free trial period.

2. Enter Your Company Information:

• Company Details:
  • Once you’ve signed in, you’ll be prompted to enter your company’s information. This typically includes:
    • Your legal business name.
    • Your business address.
    • Your industry.
    • Your company’s tax identification number (EIN or Social Security number, depending on your business structure).
• Company Settings:
  • You can further refine your company settings by accessing the «Account and settings» menu (usually found by clicking the gear icon).
  • Here, you can:
    • Customize your company logo.
    • Set up sales tax preferences.
    • Configure payment settings.
    • Manage user access.

3. Configure Your Chart of Accounts:

• Chart of Accounts:
  • QuickBooks uses a chart of accounts to categorize your financial transactions.
  • You can customize the default chart of accounts to match your specific business needs.
  • This involves adding, editing, or deleting accounts to accurately reflect your income, expenses, assets, and liabilities.