and now we will learn how a landlord or property owner would set up a company file if you set up
a file for your properties QuickBooks assumes that all of the properties are in one company
for example if you own three buildings and you make them an LLC it means all three buildings
have income that come into that company and all the expenses for any of the buildings are
expenses of that one company that structure is what we're assuming here when you do the file
setup creating a file in QuickBooks is somewhat similar to creating a file in most other software
in most other software when you save the file you choose the name and you choose the location of the
file however with QuickBooks the latest version of QuickBooks or at least QuickBooks Windows does
not let you choose the location after you create the file you have to search around the computer
using the search bar to find the location of the file it's not as convenient as it can be
but that's the way it is after we do that we will skip inputting the company information and
tax information because that's part of setting up the file and we'll skip it for now and then
at the end of the video I'll come back and I'll show you how you can change the company name and
address and the file and you can change the tax type so let's take a look at how we're going to
do this just like well let me just fit this into our little show and just like with any other
software when you create a new file you can go to the top left and click file new and that would be
the same thing as clicking this button here create new company if you happen to be in a screen with
no company open you can click either but if you are in a screen where the company is already open
no problem you will still have a file menu on the left and you can click new company now we get the
Express start over here we get the Express start window just click Express start now for company
name and address it's very simple we're only going to put the name for now hold in well you can make
any caps it because I like to distinguish between what we put and what QuickBooks put
so we'll put in caps hold in which is the guy's name the landlord and this is the owner of the
property now for industry type click help me choose scroll all the way down and then click
other none then click OK this is because we don't want QuickBooks to put a sample chart of accounts
for us we want to put the accounts ourselves and the way to do that is to choose other none
for business type we'll put that in later for now click help me choose and we'll click other
none and we'll come back later and tell QuickBooks what business type we are and click OK in a real
situation we would fill in the address and the zip and the state and so forth but as I said I'm
going to show you how to edit these momentarily so when you're done with that when you're done
with the screen all you have to do is click create company and physically QuickBooks will
be creating a brand new blank company file for you to put in all your company information and
manage your business now this window that pops up you can either click start working or you
can click the X in the top right and here we are now as soon as you create any file in any version
of the QuickBooks Windows desktop you have a whole bunch of windows that open up you just
click close you get a lot of help click close you get a lot of messages and since and this and that
but don't worry about the information we skipped over when we created the file you can change the
company name and address as well as the tax type by openings of my company window so let's take a
look from the main menu click company my company this is the place where you would change the
information we just put in now there's a pencil on the top right that allows you to edit not only
the name but other things like the legal name as well as the tax type so we click the pencil tool
and you can say you can see that I have already auth camera typed in the address but you can
click here and you could type in the address or whatever it else it was that you skipped you know
17:37 Meadow Lane Hauppauge New York whatever it is you want to put so that's the contact
information and whatever you type into this field here will be the address that shows up on all the
forms and the reports when you print company forms and company reports and QuickBooks you
can change the legal information the company ID normally they would have a company ID employer
identification number and so forth or if you were a sole proprietor you would use your social
and that's what you would put in and change that information there now most importantly you can put
or you can click report information when you click report information you're telling QuickBooks which
tax form which means you're telling QuickBooks what company type your company is and of course
you can put other none if you don't have a company if you're just a person who owns a house and rents
three or four units in your house you can put other none but if you set up the ownership of
your properties as a company probably one of these forms is appropriate just click ok and then just
click no and now now you know how to change the information we skipped over when we created the
file now in the recent versions of QuickBooks for Windows they do not tell you where the file is
physically located the only way to find out where the file is after you created it is to press f2
when QuickBooks is in front of you and QuickBooks is the active window you will get the location
of the file as well as other information about the file so if I'm in QuickBooks and I go to my
keyboard and I push f2 I get this window popping up the product information window it has a lot of
information about the software that's installed on the computer as well as the file you just created
you'll notice the license number and product number up here or blurred out or blocked out for
illustration purposes but normally it would say the license number and the product number of the
software you bought you could see a lot of other information about the file but the most important
information is here the location or the path now we don't know where this is turns out that it
looks like QuickBooks did put this on the desktop so I know that the new file I created called hold
in the landlord is now on the desktop but if I didn't know where it was I could highlight this
entire row after location right-click and click copy then I can go to the bottom where the folder
is for Windows Explorer click into the folder bar and cased and QuickBooks would show me you have
to chop off the name of the file and just get the last name of the folder so if I come here
and I hit enter now I'm seeing everything in the folder that the file is in and if I scroll a bit
if I bring it over here and scroll a bit you can see that holding the landlord the file is in fact
in this path that I copied from the QuickBooks when I pushed f2 and got the product information