QuickBooks Setup and Cleanup for Small Business

/ QuickBooks
rubles, bookkeeping, astonishment, sadness, bribe, the revolution of 1917, restructuring, 100 years, anniversary, spy on, rubles, rubles, bookkeeping, bookkeeping, bookkeeping, bribe, bribe, bribe, bribe, bribe, restructuring, restructuring

Introduction
QuickBooks saves time when it is set up the right way. Bank feeds, rules, and receipt capture reduce manual work. Here is how to set it up, how to clean it up, and a simple monthly routine you can follow.

Set up QuickBooks the right way

  1. Create a chart of accounts that fits your business
    Keep it simple. For food and franchise: Sales, COGS Food, COGS Paper, Labor, Rent, Utilities, Merchant Fees, Repairs, Marketing.
  2. Connect bank and credit card feeds
    This pulls transactions daily. No more manual entry.
  3. Build bank rules
    Code repeat vendors automatically. Example: Stripe fees to Merchant Fees. DoorDash payouts to Sales.
  4. Turn on receipt capture
    Snap a photo and attach it to the transaction. Keep records in one place.
  5. Customize invoices and online payments
    Add your logo. Set clear terms. Enable online pay to speed up cash collection.
  6. Invite your bookkeeper or CPA
    Give the right access so they can help and review.

Signs you need a cleanup

  • Duplicate income from deposits and invoice payments
  • Negative Accounts Receivable or Accounts Payable
  • Old undeposited funds sitting for months
  • Large balances in Ask My Accountant
  • Bank balances that do not match statements

What a cleanup includes

  • Reconcile bank and card accounts
  • Fix undeposited funds and duplicate entries
  • Re code incorrect categories
  • Align opening balances
  • Standardize the chart of accounts
  • Attach missing documents where possible

A simple monthly routine that takes about an hour
Weekly

  • Categorize new transactions
  • Add new bank rules as patterns appear
  • Upload receipts

Month end

  • Reconcile each bank and card account
  • Review the Profit and Loss for unusual spikes
  • Review the Balance Sheet for cash, receivables, payables, and loans
  • Save or email the Profit and Loss, Balance Sheet, and Cash Flow

Quarterly

  • Review pricing and margins
  • Tag large or annual costs for budgeting
  • Meet with your bookkeeper or CPA to plan next steps

Common mistakes to avoid

  • Mixing personal and business spending
  • Skipping reconciliations
  • Using generic categories that hide detail
  • Waiting until tax time to start

Call to action
Need a clean start or a proper setup in QuickBooks? TrueBooksNow can set it up, clean it up, and keep it running on a simple routine.