Quickbook Desktop


QuickBooks is the most popular and widely used accounting software in the world. Small and medium-sized businesses are the primary users of this software. To begin utilising it, it must first be installed on the system, which requires some procedures to be taken.

QuickBooks Desktop data backups and corporate file backups are either scheduled automatically or done manually. QuickBooks Desktop allows you to choose between online and local backup. Within QuickBooks Desktop, you may restore backups to a previous time period. This critical function is only available in QuickBooks Online’s Advanced edition.

QuickBooks Desktop is accounting software with add-ons and QuickBooks Desktop Enterprise industrial versions, similar to an ERP system. Add-ons include integrated QuickBooks,  and third-party customer relationship management software such as Salesforce and AP automation software programs.

What Are QuickBooks Desktop’s Main Features and Benefits?

  • Enterprise Platinum has an advanced inventory module.
  • Integrates with your customer relationship management system (CRM).
  • Make a backup of your data and restore it to a previous point in time.
  • Bank Feeds (downloading online bank transactions).

Works in tandem with LivePlan

How to Install QuickBooks Desktop for the First Time:-

Step 1: Sign up for QuickBooks desktop.

You may sign up for QuickBooks desktop in as little as one minute, if not less. After a free trial, you can select any of the QuickBooks packages.

All of these features are accessible for free for a period of 30 days. You only need to input your personal information to take advantage of the free online trial.

QuickBooks Online requires the usage of a supported browser After signing up for the trial, you will be able to login to QuickBooks and have access to the QuickBooks Dashboard.


Step 2: Personalise your Company Preferences and Account Settings.

A to-do List can be displayed on the QuickBooks Dashboard. After login in for the first time, you will see a variety of tutorials that will assist you in configuring various aspects of your new account. Following that, you should establish your company options to assist you go forward with QuickBooks.

  1. Click the ‘Company tab’ and then “Preferences” in the top menu. Fill in or ‘Edit your company’s contact data’ and customise the account settings as desired. Invoice automation, credit card payments, time tracking, and payroll are examples of these settings.

Step 3: Import Company Data into QuickBooks

This latest QuickBooks edition enables you to import data without difficulty. You would not have to perform any manual transfers or setups. This programme will assist you in importing data, performing transactions from bank accounts, importing customer data from Excel, and maintaining your Excel chart of accounts.

To do all of this, go to the ‘Company tab’ and pick ‘More’ and ‘Import Data’ from the drop-down menu.You will be given many alternatives for uploading the file, and you may select the one that best suits your needs. Furthermore, with this new programme, adding your client or vendor list is a breeze. Simply match each field with your QuickBooks field, ensuring there are no errors in the list, and you’re ready to go.


Step 4: Integrate QuickBooks with your bank accounts and business credit cards.

First, click on the ‘Banking tab’ at the top of the page, and QuickBooks will immediately link to your bank account. Then, choose ‘Download Transactions.’

  • Following that, a pop-up window will open in which you must enter your ‘Bank details’ that you want to sync with the programme.
  • Following that, a pop-up window will open in which you must ‘Fill in your bank data’ that you want to sync with the programme. You can log in with your online banking ‘username and password.’ After a few moments, your account will be connected with the programme, and all of your bank transactions will be imported.
  • Finally, you may associate your ‘Customer and vendor names’ with each transaction. This attachment or structured info will be useful.

After you’ve synced your bank accounts, it’s time to sync your credit card accounts as well. Once you’ve ‘Synced your credit card accounts,’ double-check that your credit card information is displayed in QuickBooks. This will prevent you from manually recording your data.

How Does QuickBooks Work?

Accounts Chart
The Chart of Accounts contains financial information about your company. The Chart of Accounts list includes checking, savings, dividend, accounts receivable, and balance sheets. Account balances and other information, such as account numbers and contact information, are displayed in the window for each individual account. In the Chart of Accounts, the list of accounts is accessible via the Lists menu. To provide more accurate tracking, avoid deleting an account. Instead, make the account inactive. QuickBooks suggests several accounts based on the nature of your business.

Lists of vendors, customers, and items
QuickBooks has three main contact and inventory management centres: the Customer, Vendor, and Inventory Centers. The Customer and Vendor Centers house lists of transactions pertaining to a specific customer or vendor in a single location. The Inventory Center allows you to manage your inventory and non-inventory items in a simple and streamlined manner. Inventory items are products that you sell and keep on hand, whereas non-inventory items are typically services. Each centre allows you to search for, add, edit, or delete customers, vendors, and items. Sort transactions by customer, vendor, or item type, and personalise fields within each list to meet your specific business requirements.

Creating detailed reports necessitates the accurate entry of customer, vendor, and item information. After running a report, you can customise it to filter information by a specific customer, vendor, item, transaction date, or to show past due payments and other important information. Once you’ve run a report, save it to your memorised or favourite report list for easy access in the future. The Reports drop-down menu displays a list of pre-configured reports. The Profit & Loss report is one of the most commonly used reports in businesses.

Payroll allows you to manage paychecks, pay liabilities, and set annual limits on specific payments such as tips or vacation pay. Within the Payroll Center, you can manage workers’ compensation, tax-exempt employees, and tax forms. QuickBooks charges a monthly fee for its online payroll service, which includes direct deposit and email receipts of payments. If you have a multi-user QuickBooks account, assign payroll permissions to specific users. Edit information from the Employee Center to include additional deductions, tips, and other employee-specific details.

Invoices and Billing
QuickBooks offers two types of statements: billing statements and invoice statements. Billing statements bill a customer for charges over time.


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