How to Set Up QuickBooks for a Freight Broker

Open QuickBooks and click the "Create A New Company" button if available. If not, click "File" on the top menu, then click "New Company ... " on the menu that appears.

Click the "Start Interview" button, then type your company name and legal name. (If your company is using a doing business as (DBA) name, these two names may be different.)

Type your company's tax ID number, which you can obtain from the IRS. Some sole proprietors use their social security number.

Type your company address, phone, fax, email and website. This information will appear on communications, such as invoices and letters, generated by QuickBooks. Click the "Next" button.

Scroll down the alphabetical list and click the industry "Insurance Agency or Broker." Click the "Next" button.

Click the radio button that describes how you legally structured your business with the federal and state governments. Click the "Next" button.

Select the first month of your fiscal year. If unsure, ask your accountant or start your fiscal year in January. Click the "Next" button.

Set up the administrator password. Click the "Next" button.

Click the "Next" button to create your company file.

Verify that you are comfortable with the name and location of the file. You can change either of these if you choose. Click the "Save" button.

Read the "Customizing QuickBooks for your business" screen, then click the "Next" button.

Click the "Services only" radio button in most cases. If your business sells products in addition to brokering freight, click the "Both services and products" radio button. Click the "Next" button.

Click the "No" radio button for the "Do you charge sales tax?" query in most cases. If unsure, verify this information with your accountant or with your state tax organization. If you sell products, click "Yes." Click the "Next" button.

Click "Yes" for the "Do you want to create estimates in QuickBooks?" query in most cases. If you do not plan to use estimates, click "No." Click the "Next" button.

Click "No" for the "Using sales receipts in QuickBooks" query in most cases. If you plan to use sales receipts, click "Yes." Click the "Next" button.

Click the "Yes" radio button if you want to send monthly statements to your customers. Click the "Next" button.

Click the "Yes" radio button if you want to invoice customers for services rendered. Click the "Next" button.

Click the "No" radio button unless you want to use progressive invoicing; contractors or consultants for big jobs paid in parts based on completion usually use progressive invoicing. Click the "Next" button.

Click the "Yes" radio button to keep track of bills on which you owe. Click the "Next" button.

Click "Yes" to print checks through QuickBooks in most cases, as this option saves time. Click the "Next" button.

Click the radio button indicating whether you will accept credit card payments. Click the "Next" button.

Click the appropriate response to the "Tracking time in QuickBooks" query. Click the "Next" button.

Click "Yes" if you plan to manage your payroll through QuickBooks. Click the "Next" button.

Click "Yes" if you want to track multiple currencies through QuickBooks. (Not that once you turn this feature on, you cannot turn it off; take the time to ensure it is right for your business. You can turn it on later if you are unsure.) Click the "Next" button.

Click the "Next" button to set up the Chart of Accounts.

Click a date to start tracking your finances; use the date that begins the fiscal year or quarter. Click the "Next" button.

Click "Yes" to add your bank account. Click the "Next" button, then type your bank account information. Click the "Next" button.

If not adding a bank account, click "No" and then click the "Next" button.

Review your income and expense accounts. Go through and add and remove accounts for your needs. If unsure about which accounts you need, speak to your accountant. Also notice the "Ask the Accountant" category, which you can use for entries.

Click the "Finish" button.