QuickBooks for Small Business: Complete Setup & Usage Guide

1. Download QuickBooks from the official Intuit website or use your installation CD
2. Run the installer as Administrator (right-click → "Run as administrator")
3. Follow installation wizard prompts
4. Enter your license and product number when prompted
5. Restart your computer after installation

When you first launch QuickBooks, you'll be prompted to create a company file:

1. Click "Create a new company" or File → New Company
2. Choose the Express Start option (easier for beginners)
3. Enter your business information:
   • - Company name (appears on invoices)
   • - Industry (QuickBooks suggests accounts based on this)
   • - Business type (Sole Proprietor, LLC, Corporation, etc.)
   • - Tax ID / EIN
   • - Contact information
4. Select your fiscal year start date (typically January 1 or July 1)
5. Choose a secure location to save your company file (.QBW)
   • - Recommended: C:\Users\Public\Documents\QuickBooks\
   • - For multi-user: Shared network folder on server

Before entering data, configure essential preferences (Edit → Preferences):

1. Go to Customers → Create Invoices
2. Select customer from dropdown (or add new)
3. Choose invoice template (customize later in Templates → Customize)
4. Set invoice date and due date (auto-fills based on payment terms)
5. Add items/services:
   • - Click in the "Item" column and select from your items list
   • - Enter quantity
   • - Rate auto-fills but can be changed
   • - Add description if needed
6. Review subtotal, tax (if applicable), and total
7. Add customer message (e.g., "Thank you for your business!")
8. Click "Save & Close" to save without sending, or:
9. Click "Save & Send" to email invoice immediately

When a customer pays, you need to record it:

1. Go to Customers → Receive Payments
2. Select customer from dropdown
3. QuickBooks shows all unpaid invoices for that customer
4. Enter payment amount and date
5. Select payment method (Check, Credit Card, Cash, ACH, etc.)
6. Check the invoice(s) being paid
7. If paying partial amount, QuickBooks asks if you want to:
   • - Leave as underpayment: Invoice stays open for balance
   • - Write off difference: Close invoice and record discount
8. Click "Save & Close"

Stay on top of who owes you money:

• Run "Accounts Receivable Aging Summary" report (Reports → Customers & Receivables)
• Shows invoices by age: Current, 1-30 days, 31-60 days, 61-90 days, 90+ days
• Send payment reminders:
  • - Customers → Create Statements
  • - Or use built-in email reminders (Edit → Preferences → Send Forms)
• For seriously overdue invoices, consider:
  • - Personal phone call
  • - Payment plan arrangement
  • - Collections agency (last resort)

For expenses you've already paid (credit card, check, cash):

1. Go to Banking → Write Checks (even if it wasn't a check)
2. Or Banking → Enter Credit Card Charges
3. Select the bank account or credit card you paid from
4. Select vendor (or add new)
5. Enter date and amount
6. In the "Expenses" tab, select the expense account (e.g., "Office Supplies")
7. Add memo describing the purchase
8. Attach receipt image (if using receipt capture feature)
9. Click "Save & Close"

For bills you've received but haven't paid yet:

1. Go to Vendors → Enter Bills
2. Select vendor
3. Enter bill date and due date
4. Enter amount
5. Select expense account
6. Add memo/reference number
7. Click "Save & Close"

This records the expense now but doesn't affect your bank balance until you pay it.

When you're ready to pay bills you've entered:

1. Go to Vendors → Pay Bills
2. QuickBooks shows all unpaid bills
3. Check the bills you want to pay
4. Select payment date
5. Select payment method (Check, Credit Card, ACH)
6. Select which bank account to pay from
7. Click "Pay Selected Bills"

QuickBooks automatically marks bills as paid and records the bank transaction.