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Please action this article as soon as possible.

Slack @karmen if you have questions.

Action - Login

  1. Look for an invite email with "Quickbooks Online Essentials" in the subject. Look for a link in the body of the email that says any of the following:
    Let's go
    Accept Invitation
    Use this intuit ID
  2. If you've never used an Intuit product you will be prompted to create a login. If you already have an Intuit login you will be prompted to enter your password. If you forgot your password, look for a password reset link. Once you've reset your password, go back to the original email in step 1 and click the link in the body of the email. It is important that you "enter through this link" for the first time that you log in. You can also try going to qbo.intuit.com in an incognito or private browsing window and entering you ID and PW.
  3. Click "Continue" on the success screen that pops up.
  4. The following prompts are annoying questions designed for Quickbooks marketing department and have little to do with setting up your books. Do your best to click through them. You should see something about "What's your role at your business". Look for the following options:
    Yes, someone helps me
    All set
  5. More prompts may follow. When possible look for options to "skip". You can find it hiding out on the bottom right of the screen.

Action - Import Business Transactions

  1. Write down all the checking and credit accounts, business or personal, that contain any business activity as of your current (or anticipated) S Corp election effective date. Ask us if you don't know that date.
  2. The business accounts stay connected to QBO. The personal accounts are only temporarily connected to import business transactions. Run all your business income and expense activity through the business accounts. If you haven't already, make it a top priority to update your customers and vendors with your business checking and credit account details.
  3. Follow these steps to connect each of those accounts and import transactions. Quickbooks will automatically name them. Please add "PERSONAL" to any personal accounts. This reminds us to eventually disconnect them. Select This Year (01/01/2021) for the "import as of" date. This will be a drop-down at the bottom left of the screen towards the end of the process. If your S Corp started last year, you may select Last Year (01/01/2020).
  4. You can wait for your training when we categorize business activity and exclude personal activity. Or you can start early and click here to check out the links at the bottom of the page.

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