Question

What documents should you have on hand when setting up a file in QuickBooks?

Answer 1

When setting up a file in QuickBooks, you should have business licenses, bank statements, purchase receipts, sales invoices, and employee information on hand.

Step-by-step explanation:

When setting up a file in QuickBooks, you should have the following documents on hand:

1. Business Licenses: These are necessary to prove the legitimacy of your business.
2. Bank Statements: These provide a record of your financial transactions.
3. Purchase Receipts: These show the items you've purchased for your business.
4. Sales Invoices: These document the sales made by your business.
5. Employee Information: This includes employee details such as social security numbers and tax information.