The process of entering company data has the effect of customizing QuickBooks so the program becomes a unique financial information resource for your company. Use the checklist that follows this section to help gather the information you need to make the setup process smooth and efficient. When you open QuickBooks the first time, you are given several choices of actions to take. Select the option to Create a new company and you'll be ready to begin entering your company data.
The company file is the term QuickBooks gives to the place on your computer where your company's financial information is stored. When you select the option to open a new company file, the EasyStep Interview begins. Follow along, answering each question as well as you can. You can make corrections later if necessary.
Open a New Company File and Follow the Interview Questions
- Select the Create A New Company File option from the Welcome screen (your Welcome screen might look like the one presented here, or it might look like the one shown in the previous task). Selecting this option opens the EasyStep Interview. If the Welcome Screen doesn't open automatically, choose File, New Company from the menu.
- Click the Start Interview button to begin the EasyStep Interview.
- Enter the name under which your company does business and the legal name of your company.
- Enter the federal identification number for your company.
- Enter the address, phone number, and other requested information about your company.
- Click the Next button to proceed through the EasyStep Interview.
- This step is optional. You can enter an administrator password or leave the field blank. If you enter a password, re-enter the password to make sure there is no error, then click Next.
- You are asked to give your company a filename. All your company data is stored in this file. From this point forward, you can exit the interview at any time (see "Stopping and Restarting the Interview," later in this chapter) and your data is saved.
- Click Save.
Did You Know?
You can change the company data you entered during the interview. After you are running your QuickBooks program, select Company, Company Information from the QuickBooks menu and make any necessary changes.
Did You Know?
You can start a new company file in QuickBooks without using the EasyStep Interview. On the first screen of the EasyStep Interview you are given the option to Skip Interview. But unless you are a QuickBooks expert, don't do it. Skipping the interview is not recommended for beginners and really leaves a lot of data entry to chance, even if you are an experienced QuickBooks user. If you insist on setting up a company on your own, you'll find information throughout this book that can help you enter your company data outside the EasyStep Interview.