QuickBooks Online Setup: An Essential Checklist for Canadian Entrepreneurs (2025 Guide)
- Taylor Vanderburgh
- Jul 31
- 5 min read
Updated: Aug 5
Are you starting a new company or looking to scale up the bookkeeping of your business? QuickBooks Online remains one of the top choices for Canadian small business owners in 2025. But getting started with this powerful software the right way is crucial—your setup has to be done properly or you risk having inaccurate numbers and compliance issues with the CRA.
This simple guide will walk you through every step of the way to ensure your books are tailored for local tax rules, business needs, and future growth.
Why QuickBooks Online for Ontario Businesses?
Local Tax Support and Compliance: Built-in support for GST/HST, province-specific regulations such workers comp and payroll tax.
Automatic Updates: Cloud-based software means you’re always compliant with the latest CRA requirements. No more downloading new tax tables every year.
Access Anywhere: Work from your office, remote sites, or on the go, securely.
Seamless Integration: Connects to banking, payroll (such as Wagepoint), and hundreds of business apps – including Square, Stripe and Shopify.
Step-by-Step: QuickBooks Online Setup Checklist
1. Register & Create Your Business Profile
Sign up for QuickBooks Online and create your business profile with legal name, contact info, and address.
Your province must be selected so that your account is set up with the right default tax rates and settings.
How to do it
Go to your browser and type: quickbooks.intuit.com/ca/online/
Click: "Sign Up" or "Free Trial"
Not sure what plan to choose? Check out our blog post on the different levels of QBO and get help selecting the right one for you.
Click: “Continue” or “Create Account.”
Type: Your business’s legal name in the “Business Name” field.
Type: Your contact info (address, phone number, etc.) in their respective fields.
For location, Select: “Canada” from the dropdown menu, and then select your province.
Click: “Next” or “Save.”
2. Customize Company Settings
Define your business type (sole proprietorship, corporation, etc.), fiscal year, and default currency (set to CAD).
If you enable multi-currency, you can not undo this! Be very careful about selecting this, and ask your accountant if you have any questions.
Add your business logo for a professional look (this will also help once you start customizing invoices!).
Review notification settings to ensure you never miss an alert.
How to do it
Once inside QuickBooks, Click: the gear icon ⚙️ (“Settings”) in the upper right.
Under “Your Company,” Click: “Account and settings.”
Click: the “Company” tab.
Click: the “Edit” pencil icon ✏️ next to each section (e.g., Company Name, Address, Logo).
Upload: Your logo by clicking “+ Upload” under the Logo section.
Set Fiscal Year:
Click: “Advanced” in the left menu.
Edit: “First month of fiscal year” by choosing from the dropdown.
Default Currency:
Still under “Advanced,” find “Home Currency,” ensure it’s “CAD – Canadian Dollar.”
Click: “Save” after each edit.
Click: “Done” in the lower right to exit settings.
3. Add Users & Assign Permissions
Invite your bookkeeper, administrative staff, partners, etcetera—assigning only the access levels they need (Admin, Sales, Time Tracking, Reports-Only, etc.).
This keeps sensitive data secure and simplifies collaboration.
How to do it
Click: the gear icon ⚙️ > under “Manage Users,” Click: “Manage users.”
Click: “Add user” (top right).
Select: the appropriate user type (e.g., “Standard user,” “Company admin”).
Fill in: the email address; Click: “Next.”
Choose Permissions: (Sales only, All, None, etc.) using the radio buttons/checkboxes.
Click: “Save.”
4. Link Your Bank and Credit Card Accounts
Connecting your business bank and credit card accounts allows for automatic import of transactions, eliminating manual entry and ensuring accuracy.
Bank statements will also be fetched automatically – no more logging in and downloading manually
ProAdvisor Tip: Never mix personal and business accounts—this ensures better compliance and clearer reports.
How to do it
In the left sidebar, Click: “Banking” or “Transactions.”
Click: “Link account” or “Connect account.”
Type: Your bank’s name and select it from the suggestions.
Enter: Your online banking credentials; Click: “Continue” (you might need to authenticate).
Select: The specific business account(s) from your Chart of Accounts to connect; add one here if needed. Click: “Connect.”
Repeat for additional accounts if needed.
5. Set Up Ontario Sales Tax (GST/HST)
Register for a GST/HST number through CRA if required (see our post: Do I need to register for GST/HST?).
Enable sales tax tracking in QuickBooks—choose your province and make sure rates match the province’s requirements.
QuickBooks will automatically calculate taxes on sales and purchases, helping you stay compliant.
How to do it
Click: “Taxes” in the left menu.
If prompted, Click: “Set up sales tax.”
Select: “GST/HST” from the list.
Enter: Your GST/HST number in the field labeled “Business Number.”
Choose: Your province.
Click: “Next,” then verify the rates (should show “HST 13%” for Ontario, for example).
Click: “Done.”
6. Import Your Key Data
Bring in your customer list, suppliers, and product/service catalog for continuity and faster invoicing.
Most accounting platforms let you import CSV files, speeding up the initial setup.
How to do it
Click: the gear icon ⚙️ > under “Tools,” Click: “Import Data.”
Select: what to import, like “Customers,” “Vendors,” or “Products and Services.”
Click: “Browse” to locate and upload your .csv file.
Map the columns: Use dropdowns to match your spreadsheet columns to QuickBooks fields.
Click: “Next.”
Review a sample; Click: “Import.”
7. Customize and Automate Invoicing
Personalize invoice templates with your logo and business info.
Enable online payment options so clients can pay you quickly via credit card, bank transfer, or third-party apps.
Set up recurring invoices if you offer subscription or retainer services.
How to do it
In the left menu, Click: “Sales” > “Invoices.”
Click: “New invoice” (top right).
Fill in: Customer info, product/service, amount, date.
Click: “Customize” to select or edit template style.
Click: “+ Add logo” if you haven’t already.
Click: “Online payments” or toggle payment methods (e.g., accept credit cards).
Click: “Save and send” to email or “Save and close” to finish later.
8. Explore Features
Expense Tracking: Snap photos of receipts right from your phone and match them to transactions.
Recurring Billing: Automate regular payments from customers or to suppliers.
Receipt Management: Keep digital records that meet CRA audit standards—especially for expenses over $50.
How to do it
Expense Tracking:
Click: “Expenses” in the left menu.
Click: “New expense” to enter a bill or upload a receipt.
Click: “Attach file” or “Upload receipt photo” to add image.
Recurring Billing:
Go to: “Sales” > “Recurring transactions.”
Click: “New,” select transaction type (e.g., Invoice).
Fill in schedule settings and details; Click: “Save template.”
Receipt Management:
On mobile, use the QuickBooks app.
Tap: “Snap Receipt” (camera icon).
Take photo, Tap: “Use photo.”
Tap: “Save” or “Upload.”
Pro Tip
Click: “Help” (question mark icon) in the upper right for step-by-step guides, or
Press: Ctrl + F to search help topics by keyword.
9. Audit Your Setup (Optional, but Recommended!)
Review everything before you start entering real transactions.
Go over your chart of accounts to make sure you’ve got all the accounts you need – and deactivate the ones you don’t need. Consider asking ChatGPT to compile a list for you based on your business type and financial activity.
Run a few test invoices and check reports for errors.
Consider a one-time review with an accounting professional familiar with Canadian finance rules. You can contact us for a file review and we’ll give you the steps you need to take to get your books audit-proof!
Tips for Success
Don’t Stress Getting Everything Perfect: Most settings can be tweaked later—focus on the essentials to get started quickly.
Backup and Security: Use QuickBooks’ security features and enable multi-factor authentication for peace of mind.
Stay Up to Date: Bookmark the CRA and Ontario Ministry of Finance websites for news on tax changes.
Get Help from the Pros: Even with an easy-to-use interface, the first setup of any accounting software can prompt questions—especially about tax and compliance in Canada. That’s where expert guidance pays off.
Simcoe Office Solutions specializes in QuickBooks setup and support for Ontario entrepreneurs. We help you:
Customize your file for your industry,
Integrate the best apps,
Train your team,
And keep your books audit-ready.
Need assistance or want a professional setup session? Message us or book a consultation with Simcoe Office Solutions today.
All step labels are current for QuickBooks Online as of 2025; menu names may update subtly in future versions. Always check with QuickBooks’ Help or Simcoe Office Solutions for new features and changes!