Summary

In this chapter, we have covered key information and documents required to set up a QBO account. We have also shown you how to customize the company settings, which include billing and subscription, usage limits, sales, expenses, payments, time, and advanced settings. Taking the time to set up your company file will help you save time in the long run because you won’t have to do it later on. Plus, you won’t have to worry about customer invoices or vendor bills missing key information because your company file wasn’t set up properly.

Remember, you can always edit these settings whenever you need to. While it is ideal to complete this setup now so that when you are ready to start recording transactions in QBO, many of the fields on invoices and bills will automatically populate for you, at some point, if your contact information or business entity changes, you can always make any necessary updates.

In the next chapter, we will take a look at what...