In this tutorial, you’ll learn how to set up, or change, your company information within QuickBooks Online. We’ll discuss the various physical and email addresses that QuickBooks allows and the unique purpose of each address. You’ll also enter your information to be printed on tax forms, such as Form 1099 and payroll tax returns.
Congratulations for choosing to learn QuickBooks Online, our top overall pick for best small business accounting software. The best way to learn how to use this software is to dive in and start using it, so we hope you follow along with this tutorial in your own copy of QuickBooks Online. If you don’t already have a subscription, new subscribers can choose between a 30-day free trial and 50% off for three months.
This is the first tutorial in our Free QuickBooks Tutorials. The tutorial can be completed by either watching the video or reading the detailed instructions and screenshots at your own pace. The video was recorded with an older version of QuickBooks Online. While the basic process of setting up and changing company information has remained the same, some of the menus have minor changes. The step-by-step instructions and screenshots have been prepared with the most recent version of QuickBooks.
Why Is It Important to Set Up Company Information?
It’s important to set up your company information so your contact information on invoices, sales receipts, and estimates that you send customers is correct. Obviously, you need your information correct so customers can pay you and contact you with questions or new orders.
Gather Your Info: QuickBooks Setup Checklist
Before we begin setting up your company in QuickBooks Online, gather some basic company information. It’s best to have as many items from the checklist as possible, but you can always make changes later.
- Business name
- Digital copy of your company logo
- Federal employer identification number (EIN)
- Business structure, such as sole proprietor or partnership
- Accounting method (cash or accrual)
Now that you have gathered your information, it’s time to start setting up your company!
QuickBooks Online Company Dashboard
Since this is the beginning of your QuickBooks training, let’s start by looking at the layout of QuickBooks Online. The first time you open QuickBooks Online, you’ll be taken to your company dashboard:
- Dashboard: The center of the screen is your dashboard and displays helpful reports that provide information about the current state of your finances. Front and center is cash flow information, but you can scroll down for additional reports.
- Gear icon: Click on the gear icon in the upper right corner to enter or change your company information and settings. The gear icon is where most of our work will be through the first eight tutorials of the tutorial.
- New button: The + New button in the upper left corner is the best place to start entering new transactions like expenses, invoices, bills, payments received, and bills paid.
- Left menu: The left menu bar provides pop-out menus to view past transactions or account balances for the various areas of your accounting system. While you can also initiate most transactions from the left menu bar, it’s generally much easier to click on the + New button.
How to Set Up or Edit Company Information in QuickBooks Online
Here are four brief steps to set up or change your company information in QuickBooks Online:
- Navigate to your account settings by clicking on the gear icon and choosing Account and settings in the first column.
- Select the Company tab in Account and Settings.
- Click on the pencil icon next to each section to input or edit your company name, company type, contact information, and address.
- Be sure to click Save after editing each section.
After you sign in to your QuickBooks Online account, you should be viewing your company’s dashboard. Click on the gear icon in the upper right corner of the screen, then select Account and settings in the left column:
There are seven items available in the left menu bar after clicking on Account and settings. This tutorial will cover the information under the Company item.
Let’s start by editing the company name section.
1. Company Name
Click on the pencil icon to the left of the Company name section to edit the information:
Complete each of the following items:
A. Company logo: Import your company logo to include it on customized forms. Your logo must be saved as an image file on your computer. Follow these steps to import your logo in QuickBooks Online:
- Click on the gray square to the right of Company logo.
- The next screen will display the logos you have previously uploaded to QuickBooks Online. If your logo is already there, select it to add it to your company information. If the logo you want isn’t shown, click the blue plus sign.
- QuickBooks provides a window to browse your computer and select the image file of your logo. After selecting the image file, click Open to return to the prior screen where a thumbnail of your new logo appears.
- The logo is now stored in your QuickBooks Online account and will be available for the customization of forms without having to reload it. Make sure the logo you want to add is highlighted, and then click Save.
Multiple logos: You can upload multiple logos by clicking on the blue plus sign in the above screenshot. You can then choose from the available logos when customizing forms in the upcoming tutorials.
B. Company and legal name: Enter your company name as you would like it to appear on your invoices and other forms. Your legal company name should match the name the IRS has for your company. The legal name will appear on tax forms, such as Form 1099, and payroll tax returns. If your legal name is different from the company name you want on your invoices, uncheck the box and input the legal name.
C. EIN: Your EIN should match the number assigned to you by the IRS. If you are self-employed, you are allowed to use your Social Security number. Because of the sensitive nature of EINs, QuickBooks may require you to authenticate your login before viewing or changing the EIN.
Avoid using your Social Security number: While self-employed taxpayers are allowed to use their Social Security number instead of an EIN, I highly recommend applying for an EIN. If you don’t have an EIN, you’ll be forced to disclose your Social Security number to vendors and employees who receive tax forms from you, such as Form 1099 and Form W-2.
Click the green Save button when you are finished entering your company name, logo, and EIN.
2. Company Type
Click the pencil icon to enter or change your company type information. Click on the drop-down menu next to the Tax form field and select your taxable entity type:
If you are the only owner and you haven’t filed paperwork with your state to become either a corporation or a limited liability corporation (LLC), then you are a sole proprietor and must file Schedule C with your Form 1040. If there are two or more owners and the company has not filed paperwork to become a corporation or LLC, then the business is a partnership and must file Form 1065. You can leave the field blank if you’re unsure.
Start typing your industry name in the Industry field, and QuickBooks will provide suggestions. You must choose an industry from the QuickBooks list or leave it blank. Click the green Save button when you are finished.
3. Contact Info
Click on the pencil icon in the Contact info section to provide contact information for both QuickBooks and your customers:
A. Email: Your company email is the address QuickBooks will use to contact the QuickBooks administrator. The customer-facing email address will appear on sales forms sent to your customers, such as invoices. If this is different from the QuickBooks administrator’s email address, then uncheck the box and input the correct address.
B. Company phone: Enter the phone number that should appear on the sales forms sent to customers.
C. Website: Enter a website address to appear on all your sales forms.
Click the green Save button when you are done and ready to start entering your company’s address information.
Click on the pencil icon in the Address section to enter or change your company’s address information:
QuickBooks requests three addresses:
A. Company address: The company address is the physical location of the business and is used for your payments to QuickBooks.
B. Customer-facing address: This address appears on your invoices and other sales forms and should be the address to which you want customers to mail their payments. If it is different from your company address, uncheck the box and enter the correct customer-facing address.
C. Legal address: The legal address is used for your tax filings and should match your address on file with the IRS. Again, if this is different from the company address, you must uncheck the box and input the legal address.
When you are satisfied with the addresses you have entered, click the green Save button.
5. Communications With Intuit
The final section ― which is optional ― allows you to set your marketing preferences with Intuit, the owner of QuickBooks. If you click Marketing Preferences, you’ll be taken to Intuit’s website, where you are asked a series of questions regarding the ways Intuit can contact you. By completing the survey, you can opt out of all mail, phone calls, and emails from Intuit.
Congratulations on finishing your first tutorial in the free Fit Small Business QuickBooks Online Training Course! The next tutorial is How to Customize the Look and Feel of Invoices, Sales Receipts, and Estimates. In that tutorial, we will walk through how to customize the style and appearance of your invoices to give them a more professional look.