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Chapter 1. Setting Up Your Company with ... > Entering a Start Date - Pg. 17

Setting Up Your Company with the EasyStep Interview 17 · Chart of accounts--If it's available; otherwise, use a listing of the categories into which you group your company's income and expense transactions. · Customer list--This includes all the people and companies with whom you regularly do business and whom you want to track in QuickBooks. Include as much of the following information as possible: name, address, telephone number, fax number, personal contact, ship-to address, sales tax status, payment terms you typically apply to each customer, and current jobs on which you are working for each customer. · Inventory list--This includes all the items you sell, including a description of each inventory item, your cost of each item, the standard sales price of each item, the preferred supplier for each item, the quantity of each item currently on hand, and the number of each item at which a reorder request needs to be issued. · Details of all amounts you owe as of the start date--This includes the name of the person or company to whom the money is owed and the amount owed. · Details of all amounts owed to you as of the start date--This includes the name of the person or company who owes you money and the amount owed. · Sales tax information--Include the rate at which you charge sales tax, the name and address of the taxing agency, and the amount of sales tax owed as of the start date. · Vendor list--This includes all your regular suppliers and creditors, including the name, the ad- dress, the telephone and fax numbers, the personal contact, your account number with each vendor, and whether the vendors require a 1099 form. You will need the federal identification numbers of any vendors for whom you are required to file a 1099. · Any existing budget information for your company. · Employees list--You'll need this if you plan to use QuickBooks for your payroll. Include names and addresses, Social Security numbers, rates of pay, withholding allowances and other de- ductions, and year-to-date information if your start date is later than January 1 or the first day on which your company does business. · Payroll tax information--This includes your state unemployment compensation rate, local tax rates, and amounts of payroll taxes due as of the start date. · Information about all assets owned by the company--This includes the original cost and date each item was purchased. If possible, you should also note the methods used for calculating depreciation on your assets and the accumulated depreciation to date. · Credit card statements you have received since the start date. · Details of all financial transactions since the start date--This includes checks written, amounts deposited, credit card transactions, and so on. Entering a Start Date The Start Date is the date on which you will first start entering your company information in Quick- Books. This is not necessarily today's date, nor is it necessarily the first day on which your company started doing business. Many people go back to January 1 to start entering their information. If your company is relatively new, you might want to go back to the first day you started doing business. If you select a date in the past for your start date, you need to go back to that date and enter all the transactions that have occurred since then. Enter a Start Date 1. In the General section of the EasyStep Interview, on the Select A Start Date For Your Company's Books screen, enter the start date you have chosen.