The Advanced company settings is where you or your accountant initially set up your company file.
Set advanced company settings
- Select the Gear icon at the top, then Account and Settings (or Company Settings).
- Select Advanced.
- Select the edit (pencil) icon in each of the sections to modify your settings, then select Save.
The settings are divided into these categories:
- Set up the fiscal year and set the closing date
- Specify your accounting method
Construction Industry Scheme (CIS) (UK only)
- Enable CIS if you are in the construction industry
Company type (not available in Australian and Global products)
- Select the type of tax form your company uses
Chart of accounts
- Enable or disable use of account numbers
Categories (Found in the "Company" tab in Australian and Global Products)
- Add "class" and "location" fields on your forms
- Pre-fill forms
- Automatically apply debits and credits
- Select if you want to use the Projects feature to see all sales, expenses and timesheets by project
- Specify defaults for timesheets, such as adding fields and first day of work week to display
- 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
- Date and number format
- Customer label (how you refer to your customers—as clients, patients, members, etc.) - US and India only
- Warnings about duplicate transaction numbers
- Waiting time before you are automatically signed out of QuickBooks