Installation of a desktop application is a monotonous process as most of the applications installed in a same way but there are some other things which you must look at which are product or application specific and same is the case with the QuickBooks like if you are not choosing the options according to your criteria or needs than after the installation there is a possibility that you are seeing some options which are not of your use but they are available and some of the options that you don’t need at the moment are available in the program so in this manner installation is also useful when it is done with care as it will lessen your labor and you don’t need to configure the application after you have installed it. When you are installing QuickBooks at certain point it will ask you about the industry in which your business is working after you choose your industry QuickBooks will configure the settings in such a way which are likely to be used in that particular industry. Moving on as QuickBooks was made to use for the clerical staff or you can say for lay man in the field of accounting meanwhile it is kept simple so anyone can use but the initial installation and setup need to be done by some advisor or ProAdvisor because if the QuickBooks is setup by some professional person it will be very easy for you to use it as he will configure it the way you need it.
As installation process is easy and straight so I am going to discuss it very little.
- First of all you have to download the QuickBooks following this link, https://community.intuit.com/articles/1501893-download-quickbooks-desktop (the link for QuickBooks exe file downloading)
- By this link you can download your desired version of QuickBooks demographically, after you got an executable file of QuickBooks setup Double click on the file and a setup of installation will start,
- Click Yes to All as it will keep your QuickBooks up to date.
- Click Next to start the process of installation.
- Agree with software license agreement by checking “I Agree” Option and “Click Next”.
- Click “Next” again.
- Now Select the type of Installation for this very product of QuickBooks (there will be two options available
- Express Installation: QuickBooks will choose all of the other options on its own and your installation process is limited to few steps.
- Custom Installation: Here QuickBooks will ask you few questions as to how configure your user interface and options available.
- This one is quite important here you will determine where you will store your QuickBooks company files and how you will use QuickBooks like:
- “I will be using QuickBooks on this computer” – this means that you are using the QuickBooks in this system now here is at your discretion whether you want to keep the files in this system or just want to use it from here placing the files anywhere else.
- “We will use QuickBooks on PC, and We will be saving our company file here so it can be shared over network” – One thing is need to be noted here that if you store files in the system you are installing QuickBooks by this means you can share files from this system and this is what this option bring for you.
- “I will not be using QuickBooks but I am only storing company files here so they can shared over the network (License is not required for this option)”.
By looking into the above options I must say that if you just want to use QuickBooks in you system than it is not necessary that you have files in your system, but if you want to share them or not to use them in the system than you must have the files in your PC, and if you want to both share and use the QuickBooks files than it is also necessary than you keep the files inside that particular PC.
- Choose a new install location if one setup of QuickBooks already exists (if you’re using express installation no need to do this as QuickBooks will itself take care of this).
- Click Install and after installation Activate QuickBooks by your given product related information.
That was installation process now we are going to talk about Setup it is an integral part of your QuickBooks it means how to configure the available options so that lay man or clerk will not find QuickBooks turbulent while using it, before we start setup we should be looking into these 3 things,
First of all determine this,
- We were not using any Accounting application before (at the end of the year we just net of all of our expenses with the income and calculate tax liability.)
- We were using MS Excel before (having developed chart of accounts and all the vendors and customer accounts.)
- We were using MS Excel (with no developed chart of accounts, vendors and customers, we only track income and expenses in that)
- We were using an application but we were not happy with that that’s why we are switching over QuickBooks.
The above described four scenarios are the scenarios you are definitely falling in if you are a small business after this you will know about what is the situation of your data like if you are managing your accounts than you must have a lift of balances but if your business is new and you haven’t made a year yet this means that there is not list of balances and you need to develop a chart of accounts which is the very first step of setting up your accounting system and so is the accounting application.
Following is a checklist which will help you when setting up your accounting process.
Answer the following question and you will be aware about how to manage things.
- Do you Sell/Purchase on credit? (this will let you kneo that you need to manage AR and AP)
- Do you sell inventories OR services OR both? (it will determine you which QuickBooks version will be best suited for you as inventory management is the feature by which QuickBooks versions are different from each other).
- Do You have employees (Need to do payroll)
- Your All Business Bank Accounts (Must be reconciled at the time you are going to start)
- What are your reporting needs (Accounting is just for taxes OR you also wanted reports for analysis).