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PsyberMind
November 3, 2024
Question

Getting Started with existing company numbers

  • November 3, 2024
  • 2 replies
  • 0 views

Good Afternoon.

 

I am an Owner Operator in the Trucking Industty, leased onto a carrier. Up until now I have been doing things the "hard" way - Basically taking my weekly settlements from the carrier and setting aside a percentage towards Taxes, then pocketing the rest.

 

I currently have an outside service doing the heavy lifting for me in terms of keeping my P&L, but I want to move to a more robust system, as I'm preparing to move my business out of the current model it's in into a more productive one, keeping closer tabs on costs, revenus, etc. I'm exploring QB As an option, compared to other services out there.

I have weekly settlement statements from the carrier, with each account broken down, and they all have YTD numbers on them. Rather than going through each settlement one at a time, is there a way that I can import/use those YTD numbers as a starting point?

2 replies

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GlinetteC
November 3, 2024

Hello and welcome, PsyberMind.  We’re thrilled to have you here. As you embark on your journey with QuickBooks, you're stepping into a world that simplifies financial management.

 

We understand that managing finances can be complex, but with QuickBooks, you’ll find intuitive tools that make tracking income, expenses, invoicing, and reporting easier.

 

One of the powerful features QuickBooks offers is the ability to import various essential data from different sources. Here’s what you can typically import:

 

  1. Chart of Accounts: Set up your financial framework by importing your existing chart of accounts. This helps you start organizing your finances right away.
  2. Customers and Vendors: Bring in your customer and vendor lists, making it easier to manage relationships and transactions.
  3. Transactions: You can import historical transactions such as invoices, sales receipts, and expenses. This ensures your financial history is preserved and easily accessible.
  4. Bank Transactions: Streamline your bookkeeping by importing bank statements.
  5. Product and Service Items: If you sell products or services, you can import your inventory items or service lists to have everything on hand as you begin invoicing.
  6. Payroll Information: If you've been using a payroll system, you can import employee records and payroll data, ensuring a smooth transition.

 

You can check these resources to learn more about importing data in QuickBooks:

 

 

In addition,  I've included these articles you can check on how to troubleshoot errors when importing:

 

 

PsyberMind, if you have any questions as you continue your onboarding journey, or if you'd like assistance with the import process, don’t hesitate to reach out. We are here to help you every step of the way.

C
Chrea
November 4, 2024

@PsyberMind 

If you can prepare COA, Customer/Vendor List, and Transaction Records, you can purchase a 3rd party service to setup your new QB Online account.

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