Some clients may require data migration while others may require data conversion. Read more about choosing the right data migration method for your client. You might have a separate folder or what is cash flow and why is it important workspace where client-ready files live.
Checklist of what you’ll need to set up a new business in Quickbooks
Make sure that you’ve created recurring tasks lists in your system so that you don’t overlook any deadlines. Most of the steps required to bring a new customer on board don’t require innovative thought. These types of repetitive admin tasks are the perfect candidates for automation. The less you need to think about contracts in the onboarding timing differences process, the better. Having an established agreement and NDA process also makes it clear you’re on top of everything, even if your left eye is twitching from too much coffee.
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Use this handy form in your initial new client meeting to establish their needs and identify which QuickBooks solution is right for them. I would add any loan accounts and potentially any fixed assets, especially if the company is not a “new” company, just new to QB. The most recent update, with contributions from Melissa King, was in October 2023. Now that you’ve almost finished onboarding your client, it’s time to get set up to work.
Migrate your Client’s Data to QuickBooks Online
If your client does not have a need for these, they can start off at a lower tier, save money, and upgrade later if need be. Whether the prospective client is a new or established business, using the following standardized steps will make your life (and theirs!) easier. You can choose to record training videos for navigating through the dashboard, accessing relevant features, and customizing their interface. Alternatively, provide your clients with access to QuickBooks resources to familiarise them with the platform’s features.
This would be good for those just starting the business with no accounting yet. For those who already have business ongoing, you’ll also need your open invoices and bills. Though QuickBooks Online doesn’t have a KYC template, you’ll want to look for a third-party app that can provide you with such a template. This gives you access to additional features not available to regular users such as the ability to undo reconciliations and batch reclassification of entries. All QuickBooks Online subscriptions come with the ability to add two accountants. You can be added as the bookkeeper and the client can also grant their CPA access to their books.
They didn’t tell me I would never get the money once they took it from my client. If you’re looking for a more robust way to track projects, deadlines, and tasks across your team, check out Jetpack Workflow with a free 14 day trial here. It’s designed to make every client engagement easier, from tasks like the onboarding of clients to building timely reports. This step can also include discussion about whether QuickBooks managed payroll services are right for the business. Are you ready to streamline your accounting processes to provide a better experience for your clients? This powerful accounting software allows you to monitor and analyze your clients’ financial transactions, account balances, and reports as they happen.
Linking your client’s bank accounts and credit cards to QuickBooks Online is easy. Simply provide all necessary account information when connecting their bank feeds. This allows you to establish a connection between QuickBooks and the client’s bank account to streamline direct and indirect materials cost calculation and example and automate data entry.
Jetpack Workflow has 32 standardized accounting workflow templates that can be downloaded for free. As you can see, having an established workflow for things like client onboarding for QuickBooks can help you quickly and efficiently onboard new clients. Though there are several differences between the tiers, one of the main differences is the advanced reporting and class tracking that is available in the higher QuickBooks Online tiers.
If your client selected one of the higher tiers of QuickBooks Online, you can directly import the bank statements when the bank accounts are updated. Additionally, it should cover the banking establishments that are used by the company. You want to ensure you are aware of all of the movement of funds within the company. This is also a good time to take inventory of any personal accounts that are linked to the company accounts that regularly contribute funds and take withdrawals.
Send welcome documents
- In cases where your projects will be fairly similar, you can use this first statement of work as a base for its future counterparts.
- Once you’ve set up your client’s bank feed on QuickBooks Online, you can import their historical bank transactions into QuickBooks Online.
- For example, you likely have your own accounting or invoice software to manage, but you might need to work within your client’s payment platform of choice.
- If you want to make bookkeeping easier (and less prone to human error), you can connect your payment processor to your accounting app.
- For those who already have business ongoing, you’ll also need your open invoices and bills.
The onboarding process is a client’s first chance to get to know your business properly. Being onboarded with a standardised process from start to finish helps to build your clients’ confidence in your business, saves time and keeps things moving. For the purposes of this article, onboarding is defined as the process of bringing a new client on board, incorporating training and orientation.