are you ready to jump right into quickbooks online
and start using it well in this episode of quickbooks online crash course
we're going to finish the remaining simple steps of the setup preparing your reports and names
list if you have any questions about this topic you can leave them in the comments
section below and i'll do my best to help you and of course if you feel the video helped you
i hope you will click like and don't forget to subscribe to get updates on new videos
that come out all the time there are very few remaining setup steps for this course
we just have to put aside four specific reports
because if you're doing abbreviated minimum quickbooks those four reports are all you need
there are two sets of names that you have to put in the lists and quickbooks online
customers and vendors and that's as easy as typing up a list in any software where you're
just putting in simple data so what are the four specific reports that you need well you need the
trial balance which is the summary results of all accounts in the chart of accounts you
need to see the profit and loss which will show the total of all the income accounts
the total of all the expense accounts and the final net income you also need to put up
transaction list by customer and transaction list by vendor and those names are self-explanatory so
for these four specific reports before we put them in a place that makes it easy to find
each report must be set to show the results of all transactions regardless of date
each report must be saved from the common reports section in to the custom reports section
so again these are the four reports we need very simple in the left panel you click reports now
if you click custom reports there are none of them now this is the place we're going to put aside the
specific reports that we need so we click standard and first we'll scroll down to the trial balance
all the way at the end of the section that says for my account right at the bottom trial balance
click on it now it shows you the trial balance but what you need to do before you save it is
click the pull down date option and choose all dates and then click run report and now you can
see it doesn't say any specific date it says all dates now that it looks the way we need it to look
we click save customization and of course if we wanted to put a special name on it we could but
let's just click save now why does that help us it helps us because we can click reports
now click custom reports and just the ones we put aside are here
so here it is trial balance let's go back to the standard section and go down to profit and loss
profit and loss uh just regular profit and loss profit and loss uh just this one
just the one that says profit and loss you see this click on it and again we have to click the
pull down date option click all dates run report now it's showing the result of all dates now after
we click save customization of course we won't change the name but you could if you want to
click save now when we click reports and custom reports you see that both of these are set aside
in a place that we can get to them very quickly and they look the way we need them to look
let's quickly do the other two reports standard go down here and you'll get to sales and customers
you can just get transaction list by customer click on it remember the pull down makes it
all dates run report save customization and save let's do that for the vendors reports
standard go down to your expenses and vendors section transaction list by vendor
all dates run report save customization and save now when we click reports custom we have right at
our fingertips each of the four reports that will give us all the information we need in a second
now the last part of the setup is the most simple we're simply going to put in the names of the
customers who pay us for service and the vendors whom we pay for the services we need to run the
business these are the names of the three example customers we will use and these are the names of
the four example vendors we will use or five sorry but please note in this crash course we will not
spend time on additional name data such as address telephone number email address website and so on
it will be very clear to you how to reopen any name to add this data anytime you need so let's
just take a look and read it off the way to enter the customers in your customer list
is to scroll to the section where it says customers click right here in the left panel
okay if it's your very first time coming here you have to click add customers manually
now you have to put something in company because company is the most important field
of course in a real situation you would fill out all the rest of the data and then of course you
could reopen and change it but we will just click save and you can see you now have one customer on
your list alan arby click customers again and it appears as a list then you can go to the top right
click new customer and again the company name field is the most important one
save now you have betty on the list click customer now
you see the two customers here new customer company name
save of course if you go back to the customer list and you wish to add a phone number
or change an email address it's very simple click on the customer name and then
click once that customer is in front of you simply click edit and you go back to the same
customer information you open before and you can put in any of these fields