This article will help you understand how to create a QuickBooks Company File right from scratch.
A QuickBooks Company File keeps the record of all the finances and transactions of the business. If you are new to QuickBooks, first of all, create a company file in QuickBooks. If you already have a company file in your QuickBooks, its good to have your QuickBooks Company File upgraded or replace your old company file with the new one.
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Apart from creating QuickBooks Desktop Company File, here are the other things that you can do:
- Create templates and company files specific to a certain industry.
- Copying multiple transactions from one company file to another.
- Export list and take it to the new company file from an old company file.
- Use condense data utility to remove all the transactions.
Instruction: If you are using QuickBooks for the first time, you can make a sample company file and see what thing you can do with it. This way you can get familiarized with the program.
Read this if you are unable to find the company file
Create a new Company File right from the scratch
Important: If the existing company file is already in your system and you want to create a new one, make sure that it has a unique name. If you select the same name for the company file, it will override old/existing company file and there will be data loss.
- Go to your QuickBooks and log-in with valid credentials.
- Now, open the Company Open window and then click on Create a new company.
- Now, click on either Detailed Start or Express Start.
Also read: QuickBooks Error Message -6177, 0
The Interview Screen will open, fill out all the instructions and then click on Next.
- From the drop-down, click on the Industry and then click on Next.
- Know the business entity that you have and then click on Next.
- Under your fiscal year, click on the month and then click on Next.
- It will ask for QuickBooks admin password and then click on Next.
- Select the location to save the company file on that location and then click on Save.
- Now, click on Next and your QuickBooks Company File will be customized as per your requirement.
Use QuickBooks Setup Window to fill the necessary information out.
Instruction: Click on Help me to see the type of business and the description. You can also take a look at the preset chart of account as per the industry.
- Click on the Create Company.
- Once the company file is created, you can now create your clients or customers, services and accounts. You also have an option to do it later by selecting start working.
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- QuickBooks Error Code 6000 – While opening the company file
- QuickBooks already has a company file.
- Permission not granted – Create a portable company file