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Setting up QuickBooks

Setting Up & Implementing QuickBooks

Are you a small & medium sized enterprise (SME) looking for tips on how to get your accounting records set-up in QuickBooks? Here are the list of account balances you should have for easy migration/start-up with QuickBooks:

1.     Customer or Jobs List

2.     List of Vendors (if any)

3.     Fixed Assets List & Current Value.

4.     List of Bank Account Balances & Petty Cash Balances at Hand

5.     Inventory Names, Cost of Purchases, Sales Price & Quantity.

6.     Account Receivables – List of Debtors & Balances

7.     Account Payables – List of Creditors & Balances

8.     Any Outstanding Expenses Payable to Vendors

9.     Tax Agencies & VAT Payable Balances

10.   Loan or Facilities Balances (if any)

11.   Owners’ Earnings or Additional Capital (if available)

12.   Names of Income & Expense Channels.