QuickBooks accounting software enables business owners to specify the type of business entity that they run when setting up an account. Each business entity has different tax implications, and selecting the correct entity ensures QuickBooks makes the correct calculations and provides the forms needed for filing. The sole proprietorship option is available for businesses owned and operated by a single person. When creating a new company account in QuickBooks, you are required to select the type of business entity for the account.

Open QuickBooks, click "File" and then "New Company." The QuickBooks Setup window appears.

Click "Express Start," enter the name of your business in the "Company Name" field and your industry in the "Industry" field.

Click the "Company Type" drop-down menu and select "Sole Proprietorship."

Enter your Employer Identification Number or Social Security number in the "Tax ID #" field. The number is used in tax forms prepared in QuickBooks.

Click the "Continue" button, enter your business' contact information and then click "Create Company File." QuickBooks creates the company file and opens the "Add Info" window.

Click the "Add" button next to the "People," "Products" and "Bank Accounts" sections to add the information to your account. When you're finished, or if you want to skip this step and add the information as you're working, click "Start Working."


Information in this article applies to QuickBooks 2013. It may vary slightly or significantly with other versions or products.