How To Set Up Class In Quickbooks

When you set up QuickBooks 2022, every bit a applied matter, you not just create a visitor file that y'all'll use to store financial information about your business organization, but as well prepare master file lists, such as the QuickBooks Item List and QuickBooks Grade List. These master file lists shop information that you tin can use and reuse. One of the main file lists describes each of your customers; this main file of customer information includes the client's name and address, contact data, account numbers, and then on.

Quickbooks Item List

If you choose the Lists → Particular Listing command, QuickBooks displays the Detail List window, as shown. The Item List window lists all the items that you've fix up equally part of running QuickBooks Setup and items that you've added manually since running the Setup Wizard.

The Particular List window.

The QuickBooks 2022 Cost Level List

The Price Level list lets y'all create toll adjustments that yous can use on the wing as you invoice customers, issue credit memos, so forth.

Sales Revenue enhancement Codes in QuickBooks 2022

The Sales Revenue enhancement Code list keeps a list of codes, or abbreviations, that you can use to depict items as taxable or nontaxable. If yous choose this command, QuickBooks displays a window listing the existing sales taxation codes. (Ordinarily, you see ii existing codes: Tax and Not.)

The Sales Tax Code listing doesn't appear unless y'all tell QuickBooks to runway sales tax during setup or afterward. To add sales revenue enhancement codes, have the following steps:

1. Choose Edit → Preferences.
2. Click the Sales Tax item in the preferences list.
3. Click the Visitor Preferences tab.
4. Answer the Do You Accuse Sales Tax question past clicking the Yep box.

To add a new sales tax lawmaking, click the Add Sales Tax Item, and describe the new sales tax when QuickBooks displays the New Detail dialog box (non shown) by naming the sales tax item, describing it briefly, and and so providing the sales taxation charge per unit and revenue enhancement agency.

How to Set a Payroll Item List in QuickBooks 2022

The Payroll Detail list identifies items that announced on employee payroll cheque stubs. If y'all're using an outside payroll service agency to handle your payroll — and this isn't a bad idea — you lot don't even need to worry about the Payroll Item listing. If you're using the QuickBooks Enhanced Payroll Service, again, don't worry about the Payroll Item list. (In either case, the QuickBooks folks set up the payroll items that you use for recording payroll.) And in the case of Intuit'south full-blown "we-do-everything" Payroll Service, y'all don't even need to track payroll within QuickBooks, because the QuickBooks people do it at their function location on their computers.

If yous do need to add payroll items, follow these steps:

1. Choose the Lists → Payroll Particular List control.

QuickBooks displays the Payroll Item listing window.

two. To add a new Payroll Item, click the Payroll Particular push and and so choose Payroll Item → New.

QuickBooks displays the Add New Payroll Item dialog box (not shown). You can choose to prepare up a new payroll particular by using either the EZ Set Up method or the Custom Ready method:

• EZ Set Up: If y'all want QuickBooks to help you lot, and you're setting upward a common payroll item, click the EZ Set button, click Adjacent, and just follow the onscreen instructions.
• Custom Fix: If yous want to perform a custom setup of a payroll particular, click the Custom Fix Up push and so click Next. QuickBooks walks you through a multiple-screen interview that asks you lot nigh the payroll particular to set up. The commencement dialog box that QuickBooks displays, for example, asks you to identify the type of payroll item that you want to create. Yous answer this question by selecting i of the radio buttons then clicking Side by side.

3. Proper name the payroll item.

After yous identify the type of payroll particular, you lot name it. QuickBooks provides another version of the Add together New Payroll Item dialog box that includes a field y'all fill up in to give the new item a name.

iv. To terminate the payroll detail setup, click the Adjacent push to move through the remaining payroll item setup questions.

Y'all identify the name of the authorities bureau to which the liability is paid, the taxpayer identification number that uniquely identifies y'all to the taxing bureau, the liability account that you use to track the items, the tax-form line that you use to report the item, the rules that QuickBooks should use for calculating the particular (such as whether the item is subject to taxes), and a couple of other miscellaneous pieces of information. After y'all supply all this information and click the Terminate button (which appears in the last Add New Payroll Item window), QuickBooks adds the new payroll item to the Payroll Particular list.

The Payroll Item menu supplies commands that are useful for working with the Payroll Detail list. In addition to the commands that you lot utilise to add an item to the list, the menu supplies commands for deleting payroll items, renaming payroll items, making payroll items agile, and printing the list of payroll items.

How to Set the QuickBooks 2022 Class Listing

QuickBooks lets y'all utilise classes to segregate or track financial information in means that aren't possible when you utilise other bits of accounting information, such equally the account number, the customer, the sales rep, the item, and so forth. A firm can use classes, for example, to segregate financial information past stores, business concern units, or geographical territories.

To gear up up classes, follow these steps:

i. Choose the Lists → Class Listing command. QuickBooks displays the Class List window, equally shown.

The Class List window.

If you don't see the Class Listing command, choose Edit → Preferences, click the Bookkeeping icon, click the Company Preferences tab, and select the Use Class Tracking for Transaction cheque box.

2. To create a new class, choose Class → New at the bottom of the window.

QuickBooks displays the New Class dialog box, as shown.

The New Grade dialog box.

3. To name the new class, enter a name or abbreviation in the Grade Name box.

Note that you enter the class name whenever y'all record a transaction that falls into the class. For this reason, you don't desire to create lengthy or easy-to-mistype grade names. Keep things brusk, simple, and easy.

4. If the class that you're setting upwards is really a bracket of a parent form, select the Subclass Of check box then choose the parent form from the Subclass Of drop-down list.

v. Click OK to save the course.

Alternatively, click Cancel to non save the class or click the Next button to save the class and redisplay the New Class dialog box.

If yous don't want the class to be used anymore, you can select the Class Is Inactive cheque box.

The Course menu, which appears when you click the Grade push, likewise supplies commands for editing the information of the selected class, for deleting the selected form, for making the selected class inactive, and for printing a list of classes, likewise as several other useful commands. All these commands are pretty straightforward to use. Experiment with them to find out how they piece of work.

How to Set Up a QuickBooks 2022 Customer List

A Client list keeps runway of all your customers and client information, such as billing and shipping addresses.

Follow these steps to add a customer to the Customer list:

1. Cull the Customers → Customer Center command.

QuickBooks displays the Client Information window.

The Customer Information window.

2. To add a new customer, click the New Client & Job drop-down list and then choose the New Customer command.

QuickBooks displays the New Customer window.

The New Customer window.

iii. Employ the Customer Name box to requite the customer a brusque name.

Yous don't need to enter the customer'due south full proper name in the Client Name box. That data can go in the Company Name box, shown on the Accost Info tab. You lot only want some abbreviated version of the customer proper name that you can use to refer to the customer within the QuickBooks accounting system.

4. (Optional) If you neb your customer in a currency different from your usual home currency, choose that currency from the Currency drop-down list.

If you told QuickBooks that you work in multiple currencies — you would have done this during the EasyStep Interview setup process — QuickBooks wants you to identify when you invoice a customer and collect payments from a customer in a currency unlike from your home currency.

5. (Usual rule) Ignore the Opening Balance and As Of boxes.

You typically don't want to set up the client's opening balance by using the Opening Remainder and Equally Of boxes. That'south non the right style to set your new customer accounts receivable balance. If you practise this, you're essentially setting up the debit part of an entry without the corresponding credit part. Afterward, you'll have to enter crazy, wacky periodical entries to fix your incomplete bookkeeping. Just an exception to the usual rule exists, every bit discussed in the tip that follows.

six. Employ the boxes of the Accost Info tab to supply the company name and contact information, including contact name, telephone numbers, fax numbers, e-mail addresses, billing and shipping addresses, and so on.

I'k non going to tell yous that yous should enter somebody'south first and last proper noun in the Full Name boxes or that the phone numbers of your customer become in the boxes labeled Main Phone and Work Phone.

seven. Click the Payment Settings tab to display the set of boxes shown.

You can record the customer's account number, his or her credit limit, payment terms, preferred payment and commitment methods, and even credit card information. Note that the Online Payments check boxes permit you bespeak a customer can pay y'all using a credit card or banking concern transfer — but you need to have set up upwardly these services already. If you haven't ready upwardly the services, QuickBooks prompts you to set them up when y'all check i of these boxes.

The Payment Settings tab.

8. (Optional) If yous're tracking sales taxes, click the Sales Tax Settings tab to display the boxes you'll apply to identify this customer's sales tax rate.

The Sales Tax Settings tab, for instance, includes a Taxation Lawmaking driblet-down list that you use to indicate which sales taxation code applies to this particular customer. You can also identify the actual sales tax item and, if relevant, the resale number.

9. Supply a fleck of additional information about the client.

If y'all click the Additional Info tab, QuickBooks displays several other boxes that you can use to collect and store customer information. You can use the Customer Type driblet-down list, for example, to categorize a customer every bit fitting into a particular customer type. And you can use the Rep drop-downwards list to place the client'due south default sales rep. Finally, you lot tin click the Define Fields push to specify additional fields that you want to collect and report for the client.

The Boosted Info tab.

ten. (Optional) Click the Chore Info tab to describe the customer job.

The Task Info tab lets you describe information associated with a item task being performed for a customer. You use the Chore Info tab if you not simply set up a client, merely also gear up up a job for that client.

xi. When you finish describing the customer, click the Save & Close or Save & New button to save your description.

Set the Vendor List in QuickBooks

Just as you lot utilise a Customer listing to continue records of all your customers, you employ a Vendor list to keep records of your vendors. Like a Customer listing, a Vendor list lets you collect and tape information, such as the vendor's accost, the contact person, and so on.

To add a vendor to your Vendor listing, follow these steps:

1. Choose the Vendors → Vendor Center command.

When y'all do, QuickBooks displays the Vendor Information window.

The Vendor Information window.

2. To add a new vendor, click the New Vendor drop-downward listing and then choose New Vendor.

QuickBooks displays the New Vendor window.

The New Vendor window.

3. Give the vendor a name in the Vendor Proper noun box.

Every bit is the case with the Customer list, you use this name to refer to the vendor within QuickBooks. For this reason, an abbreviation is fine. Yous just want something easy to enter and easy to remember.

4. (Optional) If you pay your vendor in a currency different from your usual domicile currency, choose that currency from the Currency drop-down list.

If yous told QuickBooks that you lot work in multiple currencies — you lot would have done this during the EasyStep Interview setup process — QuickBooks wants you to place when you receive bills from or pay a vendor in a currency different from your habitation currency.

5. (Usual rule) Ignore the Opening Balance and As Of fields.

Don't practice anything with the Opening Balance and Equally Of boxes. People who don't know improve use those boxes to enter the opening residuum owed a vendor and the appointment the amount is owed, but these entries only create problems later. At some betoken in the futurity, this poor soul's accountant volition need to find and correct this mistake. As when y'all add new customers, however, an exception to the usual rule exists, as discussed in the tip that follows.

Although the usual rule is that you don't desire to set an opening balance for a vendor, this rule has an important exception. Yous record your accounts payable balance on the conversion engagement by setting an opening balance for each vendor as of the conversion appointment. The sum of these opening balances is what QuickBooks uses to determine your total accounts payable on the conversion date.

half dozen. Supply the vendor address information.

The Address Info tab supplies a bunch of like shooting fish in a barrel-to-understand boxes that yous use to collect vendor name and address data. You enter, predictably, the vendor'south full name in the Visitor Name box.

Y'all can click the Edit buttons on the Address Info tab to display some other dialog box called the Edit Address Information dialog box, which lets you enter the accost in typical street accost, urban center, land, and zip-code format. The Edit buttons appear to the right of the Billed From and Shipped From address blocks.

7. Supply any additional information necessary.

The Payment Settings tab collects the near relevant vendor information, including business relationship number, credit limit, and payment terms, simply if you click the Tax Settings tab, the Account Settings tab, or the Additional Info tab, QuickBooks displays a handful of other boxes that you can use to collect and shop information:

• The Tax Settings tab lets y'all collect the vendor's tax identification number and then that yous tin (as sometimes required by federal tax laws) send the vendor a Form 1099 at the stop of the twelvemonth.
• The Account Settings tab lets you lot specify which accounts QuickBooks should use to prefill account fields when inbound a transaction for the vendor.
• The Additional Info tab lets yous categorize the vendor co-ordinate to type and also lets you lot create other custom fields.

If y'all're paying a vendor for the first time, a good guideline is to go his revenue enhancement ID number. If somebody won't give you his tax ID number — thereby making it incommunicable for you to report payments that you make to him — it's probably a sign that something is a fleck amiss.

The Payment Settings tab.

eight. Click OK.

The New Vendor window closes, and you go back to the Vendor Heart.

If you lot click the Business relationship Settings tab (the fourth tab bachelor in the New Vendor window), QuickBooks displays boxes you lot can use to listing the accounts that you lot desire QuickBooks to fill in for you automatically when you record a check to some vendor or when you tape a nib from some vendor. If the bank check to the phone company pays telephone expenses, for example, you lot could tell QuickBooks to prefill that expense category the next fourth dimension y'all enter a neb or record a check to pay that vendor. It won't enter an amount, as (obviously) the corporeality can alter, just you won't accept to search all your accounts to discover telephone expenses if you use this option.

Ready Up a Fixed Assets Listing in QuickBooks

If you choose the Lists → Fixed Asset Item List command, QuickBooks displays the Fixed Asset Item list window. You can use this window to see a list of the stock-still assets — furniture, equipment, mechanism, vehicles, and and so along — that you've purchased. That is, yous can see this list after yous click the Detail driblet-down list, choose New, and make full in the New Detail window for each fixed nugget.

Y'all draw each stock-still nugget past using the New Detail window.

The Fixed Asset Item list doesn't really integrate with the QuickBooks general ledger. You lot tape the purchase or disposal of stock-still assets by using regular old QuickBooks transactions. You might record the purchase of a particular fixed nugget only by entering a check in the usual fashion. And you might tape the disposal of a fixed nugget by entering a general ledger periodical entry.

The Fixed Avails Item listing, then, just acts as a stand up-alone list that lets you rails the fixed assets you purchased.

Ready a QuickBooks Price Level List

A price level changes the sales toll up or down when you do things like invoice. Yous might create a price level that amounts to a preferred customer discount on specified items. When y'all create an invoice for those items, rather than use the standard price for the particular (which appears in the Create Invoice window's Cost cavalcade), yous could select the toll level preferred customer discount (in the Price column) to use the discounted preferred customer.

To create a price level, choose the Lists → Price Level command. When QuickBooks displays the Price Level list window (not shown), click the Toll Level drop-downwards listing and then choose New. When QuickBooks displays the New Cost Level dialog box, give the cost level a proper noun in the Price Level Proper name text box, use the Price Level Type box and listing to specify to which items the toll level applies, and so use the Conform Cost and Rounding boxes to ready the new price level'south prices. When you click OK, QuickBooks redisplays the Cost Level listing window — this time with your new price level. You can edit and delete existing price levels by using other commands that become available when you lot click the Toll Level button.

Prepare Up a QuickBooks Billing Rate Level Listing

A billing rate sets the amount that you charge for service items. Whereas a law firm might sell only hours of legal advice, for example, the item "legal communication" would be billed at different rates for different attorneys. An chaser just out of law schoolhouse might have his or her time billed at ane rate, whereas a senior partner in the firm might bill at another, probably much college rate.

To gear up a billing charge per unit, you choose the Lists → Billing Rate Levels List command. When QuickBooks displays the Billing Rate Level window (non shown), click the Billing Charge per unit Level drop-down list and and so choose New to display the New Billing Rate Level dialog box. You use the New Billing Charge per unit Level dialog box to define a billing rate, giving the billing rate level a name, and and then ready a fixed hourly rate for the billing-rate level or different hourly rates for different service items.

Afterward you lot create billing-rate levels with the Billing Rate Levels List command, past the way, you need to connect those levels with specific employees and then that the right charge per unit gets used when an employee's time is billed. To practise this, display the Employee Center window by choosing the Employees → Employee Center command. Then right-click the employee, choose Edit Employee from the shortcut carte, click the Boosted Info tab when QuickBooks displays the Edit Employee dialog box, and select the appropriate billing charge per unit in the Billing Rate Level list box.

Set Up the Profile Lists

If you lot choose the Lists → Customer & Vendor Profile Listing command, QuickBooks displays a submenu of commands that y'all employ to create some of the mini lists that QuickBooks uses to ease your bookkeeping and accounting. The Profile lists include lists of sales reps, customer types, vendor types, task types, payment terms, client messages, payment methods, shipping methods, and vehicles. Most of the Profile lists are pretty darn simple to use. If you choose the Sales Rep list control, for instance, QuickBooks displays the Sales Rep list window. Then y'all click the Sales Rep drop-downward list and choose New. QuickBooks displays the New Sales Rep dialog box.

The New Sales Rep dialog box.

In case you're still experiencing a certain amount of bookkeeping anxiety, let me just signal out that you enter the proper name of the sales representative in the Sales Rep Name box. Then, throwing caution to the wind, you enter the sales rep's initials in the Sales Rep Initials box. When you click OK, QuickBooks adds the sales rep to your Sales Rep list.

The other Profile lists work in the same uncomplicated, scaled-downward style. You choose the Profile list from the submenu, click the Profile Listing button, and choose New. When QuickBooks displays a window, you lot use one or ii boxes to draw the new Profile list.

Source: https://www.dummies.com/article/technology/software/money-management-software/quickbooks/how-to-set-up-master-file-lists-in-quickbooks-2019-260820/

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