• Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint
Share this Page URL

Chapter 1. Setting Up Your Company with ... > Setting Up Income Accounts

Setting Up Income Accounts

When you use the EasyStep Interview, QuickBooks starts with a list of accounts common to your type of business. Unless all these accounts are inappropriate for you, you'll probably save time by accepting this list of accounts and adding more account names after the interview if necessary. After asking several questions about your company, the EasyStep Interview takes you to a screen where you can set up additional income accounts. You have the option of setting up income accounts now or adding more accounts after completing the interview.

Set Up Income Accounts

Click Yes when you are asked whether you want add an income account; then click Next to proceed.

Enter a name for your account. You are limited to 31 characters, including spaces, for your account name.

Select a tax line for this account.

Did You Know?

Tax lines are optional. Tax lines are necessary if you plan to use QuickBooks in conjunction with a tax software program to prepare company tax returns or you plan to take advantage of the tax reporting features available in QuickBooks. If you don't intend to use these features, you can leave this field blank.

See Also

See Chapter 12, “Preparing Income Tax Returns,” on page 287, for information about using QuickBooks for preparing your company's income tax returns.

Continue answering Yes when asked whether you want to add another income account until all your income accounts have been entered.



Not a subscriber?

Start A Free Trial

  • Creative Edge
  • Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint