March 31, 2020

Set Up QuickBooks for Existing Company

QuickBooks Desktop
Ronald B. Allen

You have decided to change your small business bookkeeping and accounting software to the best, which is QuickBooks. You are excited about the ability you will have to see more insightful reports and a smart system that handles billing, sales receipts, bills, and bank balance accounting. But, now you have to set up the system so that it works the best for you and you have to import your current bookkeeping information. Luckily for folks doing business in the Kansas City area, Exigo Business Solutions offers QuickBooks ProAdvisor services and specifically can help you with your QuickBooks setup. We know how to set up QuickBooks for an existing company and create an accounting system that facilitates your business.

Setting up QuickBooks

This starts with choosing the QuickBooks features most appropriate to your business, now and as your business grows. The version you will want and how many licenses you will need are things that we at Exigo routinely help our clients with. Will you need other third-party applications for business intelligence such as QQube Reports, Advanced reporting with QBar, or Spotlight Reports? These are tools that we deal with routinely. We can help you decide whether or not to use them. And if you do, we will help you most effectively integrate them with your QuickBooks software.

At Exigo we take our clients through our checklist of QuickBooks features, your data characteristics, versions available and other factors essential to a successful QuickBooks setup. And, we are Premier Resellers of Intuit QuickBooks products and when you purchase your QuickBooks through us, we will pass on the Premier Resellers discount to you!

We know how to set up QuickBooks for an existing company and make the transition from your old bookkeeping system to QuickBooks as quick and painless as possible.

We will walk you through setting up your QuickBooks company file, make an implementation plan that is specific for your needs, and deal with these specifics.

Design of Your QuickBooks System

In order to make sure that your books are as clean and accurate as they can be, we make sure that your QuickBooks company file is designed for the precise needs of your business and the features that you will use. To do this we will take the time to learn about your business and what you need. Working with you, we will analyze our checklist point by point to make sure that what you get is what you need. In the end, you will have a QuickBooks that gives you custom financial reports and generates KPIs (key performance indicators) to assist you in making critical business decisions.

Setting Up Files and Internal Controls

The precise steps will depend on the unique plan we make to implement QuickBooks in your business. However, we always set up files and internal controls in a secure setting. Items involved in this setup include a customized chart of accounts, settings, lists, forms, preferences, templates, inventory, payroll, taxes, fixed assets, memorized reports, and more as your business requires.  And, when we need to import data from your old system we will clean it and make sure it does not corrupt your brand new QuickBooks system.

Third Party Apps

When we first talk about what you need from QuickBooks, we help you determine if third-party applications are needed. If they are, this is the step where we implement and connect these, after the setup of your QuickBooks company file.

Automation and Reports

Automation and custom reporting are next on the setup list after the company file is set up and third-party apps are integrated with the system. Partly this is because the third-party applications are typically business intelligence software that generates sophisticated reports!

Knowledge Training

At this point, we will take you through a bit of training so that you know how to generate customized reports for your specific and unique business requirements. Our goal is always for you to get the greatest benefit from your new QuickBooks software. We can do our training onsite for folks in the Kansas City area or remotely. We have found over the years that everyone’s training requirements are different. So, we have learned to be flexible and to customize our training and transfer of knowledge to the needs of our clients.

Converting Data

When we talked about setting up file we mentioned importing and cleaning data. Our Certified QuickBooks ProAdvisors have extensive experience with data conversion when transferring date from old accounting systems to QuickBooks.

Data conversion is simply the process of moving information from your old bookkeeping system to a new QuickBooks company file. But, there are a couple of issues. One is that the data in the old system may be encoded in a computer language that does not work in QuickBooks. And, old bookkeeping files may be corrupted with missing or unreadable information. These are issues that we routinely deal with the can fix.

At Exigo we follow a systematic process for safely and accurately transferring your old bookkeeping data from its old home to its new QuickBooks company file. The data that is stored in QuickBooks will not be corrupted and all that can be recovered will be. Our experts will learn about your old accounting system and will take measures to make sure that all data that is transferred is consistent with what your old system tells you. We will work with the responsible people in your company to do this and will accomplish our data conversion on schedule.

Cleanup of Old Data

After your data leaves its old home and before your data arrives safe and sound in your QuickBooks system there is often one more issue. That is old, inactive data cluttering up the system. We will clean up your data and remove or archive inactive items, customer, vendors, and other ancient items. Then we streamline your chart of accounts to make sure that your company will have accurate and consistent records.


This is the process of looking at the converted data in its new QuickBooks home and check inventory counts, valuations, financial balances, and reports for consistency and accuracy. When this step is done your data has been successfully transferred.

Setting up QuickBooks for an existing company is something that we routinely do at Exigo Business Solutions. If you are thinking about switching your accounting software to QuickBooks or have already done so but are having problems with the setup, contact us and our QuickBooks ProAdvisors will be glad to help.

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