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Set up advanced account settings in QuickBooks Online

SOLVEDby QuickBooks30Updated January 26, 2024

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

  1. Go to Settings Settings gear icon., then select Account and settings.
  2. From the left menu, select Advanced.
  3. Select the Pencil ✎ icon for each section below to modify your settings.


Preferences for Advanced account settings

Choose preferences accordingly:

Accounting:

  • Set up the fiscal 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 Shipping account, Discount account, Markup income account & 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.

Language: Specify if you wish to use the product in English or French.

Currency (Essentials and Plus Only): Select if you accept transactions in foreign currencies.

Business network: Select if you want to allow members to find your company. 

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.

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