How Do I Start Using QuickBooks Online for My Business? A Step-by-Step Guide for Entrepreneurs
How Do I Start Using QuickBooks Online for My Business? A Step-by-Step Guide for Entrepreneurs
If you’ve been asking, “How do I start using QuickBooks Online for my business?”, you’re already taking one of the smartest steps an entrepreneur can take.
At Lionhood Financial Coaching, we help small business owners build confidence in their numbers. QuickBooks Online is one of the best tools to make that possible — but only when it’s set up the right way.
This guide will walk you through exactly how to get started, avoid beginner mistakes, and start managing your business like a professional.
1. Choose the Right QuickBooks Plan
QuickBooks Online offers several versions, and the right one depends on your goals and the size of your business.
Here’s a quick breakdown:
- Simple Start – Best for solopreneurs or freelancers who just need income and expense tracking.
- Essentials – Adds bill tracking and multiple users.
- Plus – Great for small businesses that need project tracking, inventory, and detailed reporting.
- Advanced – Ideal for growing businesses with large teams and custom workflows.
👉 You can explore plans and start your trial here: QuickBooks Partner Link
2. Set Up Your Business Profile
Once you’ve signed up, QuickBooks will walk you through setup questions:
- Business name and type (LLC, S-Corp, Sole Proprietor, etc.)
- Industry (for preloaded chart of accounts)
- Tax details and business start date
Pro tip: Use your legal business name exactly as it appears on your tax documents to avoid confusion later.
3. Connect Your Bank and Credit Card Accounts
This is where QuickBooks Online becomes powerful. Connecting your financial accounts allows transactions to download automatically.
Once connected:
- Categorize expenses (office supplies, advertising, meals, etc.)
- Match transactions to invoices and payments
- Review transactions weekly to stay organized
Avoid mixing personal and business accounts. Keeping them separate protects you during tax season and strengthens your financial integrity.
4. Create Your Chart of Accounts
Think of your chart of accounts as the blueprint of your business finances. It’s how QuickBooks organizes income, expenses, assets, and liabilities.
If you’re not sure what accounts to include, a financial coach or bookkeeper can help tailor it to your business model.
Lionhood Financial specializes in helping new businesses create a clean, simple structure that grows with you.
5. Send Your First Invoice
QuickBooks makes invoicing easy and professional:
- Go to Sales → Invoices → New Invoice
- Add your client’s details and itemized services
- Set payment terms (Net 15, Net 30, etc.)
- Send via email directly from QuickBooks
You can even enable online payments so clients can pay by card or ACH. Fast, secure, and automatic.
6. Track Expenses and Mileage
If you drive for business or use your personal card for work expenses, QuickBooks can help you capture deductions that save you money at tax time.
Use the mobile app to:
- Snap pictures of receipts
- Automatically track mileage
- Categorize transactions on the go
These small habits prevent major headaches during tax season.
7. Generate Your First Financial Report
Once your transactions are in order, you can view reports like:
- Profit and Loss Statement
- Balance Sheet
- Cash Flow Report
These reports tell you the truth about your business — what’s working, what’s not, and where to focus your energy.
This is also where financial coaching adds real value. At Lionhood Financial, we help clients interpret these reports so they can make confident, data-driven decisions.
8. Get Coaching to Build a Scalable Financial System
QuickBooks will organize your numbers. But Lionhood Financial Coaching helps you turn those numbers into a strategy.
We’ll help you:
- Set up your QuickBooks correctly from day one
- Learn what reports actually matter for your business
- Build cash flow systems that lead to growth
- Stay accountable to your financial goals
When your bookkeeping works hand-in-hand with your financial habits, you’re no longer chasing stability — you’re creating it.
Free Resource: QuickBooks Startup Checklist
Download our QuickBooks Startup Checklist to make sure your setup is complete and clean.
This free resource includes:
- Step-by-step setup guide
- Weekly bookkeeping checklist
- Financial review template
📘 Download the free QuickBooks Startup Checklist
Final Thought
Starting QuickBooks Online is more than a technical step — it’s a declaration that your business deserves structure, clarity, and excellence.
At Lionhood Financial Coaching, we don’t just help you learn QuickBooks. We help you use it to build wealth, stability, and a life of ownership.
🦁 Take the first step today — schedule your setup session and let’s get your books working for you.