Getting Started

• Installation

• Chart of accounts

• Multiple currencies

• Opening balances

• Managing company files

In this chapter, we'll go over some of the tips and shortcuts for setting up QuickBooks and your company file. Like most of the discussions in this book, the contents of this chapter assume you're not new to QuickBooks, and you know the basics (a book covering every basic task in QuickBooks and also covering every Premier feature would be well over a thousand pages). If you're new to QuickBooks you'll find that the Help Files are quite good at explaining the basic functions for the software. If you're looking for a comprehensive QuickBooks guide check out our new title "Setting Up and Running QuickBooks 2014: The Accountant's Guide for Business Owners" (http://www.cpa911.com/qb2014_accountants_guide.php).

Installation Tips

If you're installing QuickBooks on a single computer, the installation wizard that starts when you insert the CD is very easy to follow. If you're installing a multi-user version on the network, the process is a little more complex. You can find detailed instructions for installing QuickBooks on a network on the Intuit support site (http://support.quickbooks.intuit.com/support/articles/INF12570).

Therefore, we are not going to provide installation instruction. However, in this section we offer some tips for installing QuickBooks the way IT professionals would. These suggestions make it easier to use, repair, and maintain the software.

Upgrading QuickBooks

If you're upgrading to QuickBooks 2014 from an earlier version, it's not a good idea to install an upgrade over an existing version of the software. Unfortunately, the QuickBooks installation information is somewhat confusing.

When you reach the Choose Your Installation Type screen, it says very clearly that using the Express method will replace the current version. For whatever reason, the information is wrong. If you select the Express method and continue with the installation, it will install QuickBooks 2014 into its own folder (C:\Program Files\Intuit\QuickBooks 2014). You'll see the installation folder on the Ready To Install screen, which is the last screen before the installation begins. If you really want to replace your existing version of QuickBooks (or change the installation location) you have to choose the Custom And Network Options method.

Whichever method you choose, install QuickBooks 2014 into its own folder. When everything is working properly you can remove the older version in the Add/Remove Programs applet (Programs and Features in Windows 7) of the Control Panel.

Opening an Existing Company File

If you replace your previous version with QuickBooks 2014 Premier (installing to the same folder that held your previous version), the first time you launch QuickBooks the software opens the company file that was open when you last closed QuickBooks in the previous version. Then the system begins the process of updating the file to Premier 2014.

If you already have a previous version of QuickBooks, and you installed QuickBooks 2014 in a new folder, select File | Open or Restore Company. Follow the prompts in the wizard, locate the copy of the file you put in the data file folder for 2014 (not the original file from the older version of QuickBooks), open it, and let QuickBooks begin updating it. This is a good way to install QuickBooks, becau