Do I need to take the PSAT into consideration?

So I am going to 10th grade this September and I live in NYC. My high school automatically signs up the 10th graders to take the PSAT. Alot of my friends are going to prep this summer. I want to know does the PSAT score in 10th grade count? will the colleges look at it and does this score qualify me for a scholarship? I also heard you can take the PSAT in 11th grade, so if I take the PSAT in 11th grade when do I take the SAT? Which PSAT is more important the 10th grade one or the 11th grade one? and which one do the colleges look at? Thanks :)