Financial Foundation Setup Guide

Goal: To set up an accounting system that accurately classifies transactions in order to prepare financial statements correctly.


Meeting Objective: For us to have recorded sufficient numbers of transactions together that you are capable of continuing to keep the books on your own.


Suggested Meeting Items Available: These are the items that will be used to set up the books.  You may or may not have all of them.  Do your best to organize them but we’ll work with what you have.



  • Quickbooks – preferably the PC Version
  • Tax returns – prior period income, sales, payroll, excise, other
  • Prior year accounting books – trial balance
  • Payroll Info for employees – 941, 940, NYS45, W4,
  • Insurance info – business, liability, life, health, disability, workers compensation, renters/homeowners.


Customers/Income/Accounts Receivable:

  • Invoices
  • List of revenue sources
  • Accounts receivable schedule
  • List of customers


Vendors/Expenses/Accounts Payable:

  • Bills
  • List of Expense Categories
  • List of vendors
  • Accounts payable schedule


Charts of Accounts:

  • Bank Statements – Most recent bank reconciliation
  • Recurring transactions



  • Loans/Notes payable
  • Investors Capital transactions



  • List of your specific questions
  • Drop box access POS software