The Advanced account settings is where you or your accountant initially set up your company file.
| Note: Advanced account settings vary by region. |
Set up Advanced account settings
- Go to Settings
, then select Account and settings. - From the left menu, select Advanced.
- Select the Pencil ✎ icon for each section below to modify your settings.
Preferences for Advanced account settings
Choose preferences accordingly:
Accounting:
- Set up the financial year, tax year and set the closing date.
- Specify your accounting method.
- Set up Default tax rate selection.
Company type: Select the type of tax form your company uses.
Chart of accounts: Enable or disable use of account numbers. Set up Discount account and Billable expense income account.
Categories: Add "class" and "location" fields on your forms.
Automation:
- Pre-fill forms.
- Automatically apply debits and credits.
- Auto-enabled workflows.
Projects: Project features to see all sales, expenses, and timesheets by project.
Currency (Essentials and Plus Only): Select if you accept transactions in foreign currencies.
Other preferences:
- Date and number format.
- Warnings about duplicate transaction & journal numbers.
- Waiting time before you're automatically signed out of QuickBooks Online.
You now know how to set up your Advanced account settings.