QuickBooks Online is the accounting platform Greg Monaco, CPA recommends for virtually every NJ small business. As a Gold Certified QuickBooks ProAdvisor, Greg sets up QBO with a customized chart of accounts, connected bank feeds, automated bank rules, and NJ-specific tax configurations from day one. A properly configured account reduces monthly bookkeeping time by half compared to the default setup.

QuickBooks Online is the tool I recommend for virtually every NJ small business. But the setup matters. Defaults won’t serve you well.

Step 1: Company Setup

Legal name, EIN, address, industry, fiscal year, entity type.

Step 2: Chart of Accounts

Customize to match your business. Delete unused accounts. Add NJ-specific accounts.

Step 3: Connect Bank Accounts

Link business bank and credit cards for automatic importing. Set up bank rules for recurring transactions.

Step 4: Configure Sales Tax

Set up NJ sales tax at 6.625% if applicable. Configure products for correct tax treatment.

Step 5: Customize Invoices

Add logo, payment terms, online payment options. Include NJ business registration if required.

What Advantage Does a QuickBooks ProAdvisor Provide for NJ Businesses?

As a Gold Certified ProAdvisor, I set up QBO with a focus on accuracy from day one. A properly configured account reduces monthly bookkeeping time and makes tax preparation seamless.

Key Takeaway

A QBO setup done correctly from the start saves hours every month and makes tax preparation seamless. The default configuration is designed for a generic business, not a NJ service business with specific sales tax, payroll, and BAIT requirements. Invest in a proper ProAdvisor setup rather than figuring it out as you go.

Related reading: Chart of Accounts 101 | Why Good Bookkeeping Matters | QuickBooks ProAdvisor services

## Frequently Asked Questions

Which QuickBooks plan do NJ small businesses need?

Most NJ small businesses do well with QuickBooks Online Simple Start or Essentials. Simple Start handles basic income and expense tracking with one user. Essentials adds bill management, multiple users, and time tracking. If you need inventory tracking, project profitability, or more than three users, consider the Plus plan. A QuickBooks ProAdvisor can recommend the right plan based on your specific needs.

Should I connect my bank accounts to QuickBooks?

Yes. Connecting your business bank and credit card accounts to QuickBooks enables automatic bank feeds that import transactions daily. This reduces manual data entry, catches transactions you might otherwise miss, and speeds up monthly reconciliation. Only connect business accounts, never personal accounts, to maintain clean separation.

How do I set up NJ sales tax in QuickBooks?

In QuickBooks Online, navigate to Taxes, then Sales Tax, and set up New Jersey as your tax jurisdiction with the 6.625% rate. If you are in an Urban Enterprise Zone, you may need to configure a reduced rate. QuickBooks can automatically calculate sales tax on taxable invoices and track what you owe, making quarterly or monthly sales tax filings simpler.

Can a QuickBooks ProAdvisor set up my account remotely?

Yes. As a Gold Certified QuickBooks ProAdvisor based in Livingston, NJ, Greg Monaco, CPA sets up QuickBooks Online accounts remotely for NJ businesses. The setup includes a customized chart of accounts, connected bank feeds, automated bank rules, and NJ-specific tax configurations. Remote setup is standard and works just as well as in-person configuration.