Get started with latest steps to creating a QuickBooks Desktop company file

Creating a QuickBooks desktop company file might seem one of the most daunting tasks for a user and also one of the most technical ones at the same time. As the company file carries all the financial information of the company, entrepreneurs and newbie QB users are a bit dicey with the decision to create a company file in QuickBooks desktop on their own. The company file stores all the financial information and continues to grow. QuickBooks accounting software allows or permits the users to save multiple company files for multiple businesses, as a separate company file is a must for every business.

Creating a company file doesn’t involve any rocket science, all it needs is just an awareness of the process, which we will be providing you in today’s post. However, if you still feel the need of a professional, then we would recommend you not to risk your data, and immediately contact an expert with renowned experience. No need to go far in search of a renowned team of QB professionals. You can simply give us a call at 1-888-291-2294, and our support team will be there to assist you.

Reminder: Well, if you are a newbie, or using QuickBooks for the very first time, then we would recommend you playing around sample company file in order to experiment and get familiarized with the program. So, now you are aware of all necessary things, it is time for us to begin with the process.

Related article: How to use the Automated Password Reset Tool for QuickBooks desktop?

Steps to create a new company file from scratch

Before you begin with the process, keep in mind that if you are creating a new QuickBooks company file and if another old company file is saved on your system, then ensure to use different name for the new one, in order to avoid any sort of confusion. Using the same name for the new company file will override the current company file and the data in the current file will be lost. The steps involved in the process to create a new company file that too from scratch are as follows:

  1. The very first step is to open QuickBooks desktop
  2. And then in the no company open window, opt for the create a new company option
No company file open windows - Screenshot
  1. The user will now have two setup options:
    • First option is to select the express start, for getting it started right away. The user will have to enter only the business name, industry, and business type in order to create a company file. The user can also enter the info later on.
      • For this, the user needs to open QB desktop
      • And then, click on create a new company, on the no company open window
      • Moving ahead, the user needs to click on the express start option
      • Followed by, filling out the required information in the QuickBooks setup. The point to remember here is that to click the help me choose option to see a description for every business type and the chart of accounts that QB will create for you per industry.
      • The next step is to click on create company option
      • The user can start creating the chart of accounts, customers and services after creating the company file, or the user can also do it later by selecting the start working
    • Selecting detailed start is recommended, if the user wishes to do a complete setup, where the user will have to enter all of the info from the start
      • The very first step is to open QuickBooks desktop
      • And then on the no company window, create a new company
      • And then click on the detailed start
      • The next step is to fill out the easy step interview screen and hit next
      • Moving ahead, the user needs to select the industry and hit next
      • Once done with that, identify the type of business entity and then hit next again
      • Now, set the fiscal year for which you want to create a company file and then hit next
      • The user is then required to setup the QuickBooks admin password and click next
      • Followed by selecting the location to save the company file and hit save
      • The last step is to customize the QuickBooks by clicking next or do it later by selecting leave
Create company file - Screenshot
  1. After picking any of the above option, the user will have to carry out the on-screen steps to complete the setup. Make sure to keep earlier mentioned point in mind i.e. giving the file a unique name.

Ending this process permits the user to begin working in QuickBooks desktop.

Read this also: How to restore backup files in QuickBooks desktop?

Steps to make a new company file in QuickBooks Pro and Premier

The set of steps to make a new company file QuickBooks Pro and premier might vary from that of QuickBooks desktop. So, here is guide to set up company file in Pro and premier.

  1. First of all, the user needs to move to the file menu and opt for the utilities option and then click on the Condense data
Clean up company data - Screenshot
  1. The next step is to rebuild all the outstanding balances in the accounts receivable either by recreating individual invoices or the user can also create balance forward invoice for a lump sum customer balance
  2. Now, from the vendors menu, the user needs to create all vendor balances along with the enter bills option
create all vendor balances - Screenshot
  1. The bills will be directly charged to the un-categorized expense account, as opposed to individual expense accounts
  2. It should be noted that the payroll users can not avail this feature due to critical payroll information in the payroll files
  3. Also, the same feature is not available for QuickBooks online banking users, due to the security and time related data from financial institution.

Some more steps to be followed:

  • The user is supposed to select file and new company option.
New company option - Screenshot
  • And then, choose the start interview option in the window of the easy step interview.
Start interview - Screenshot
  • Followed by, carrying out the on-screen instructions and entering the information for the new company file.
Entering the information for the new company file - Screenshot

Professional assistance is a call away!!

As we said before, creating a QuickBooks desktop company file doesn’t involve any rocket science, performing exact procedure can create a company file without any sort of error. However, if you are facing any difficulty, then providing you with the proper guidance will only be possible for our experts, when you will get in touch with us via our toll-free number i.e. 1-888-291-2294.

Listening to your issues, will help our QuickBooks support experts in providing you with the best and customized QuickBooks assistance.

 

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