The Advanced Company Settings is where you or your accountant initially set up your company file.

To set your advanced company settings:

  1. Select the Gear icon at the top, then Account and Settings (or Company Settings).
  2. From the left menu, select Advanced.
  3. Select the Pencil icon for each section to modify your settings.

The settings are divided into these categories/sections:

Accounting
  • 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
Automation
  • Pre-fill forms
  • Automatically apply debits and credits
Projects
  • Select if you want to use the Projects feature to see all sales, expenses and timesheets by project
Time tracking
  • Specify defaults for timesheets, such as adding fields and first day of work week to display
Language (CA only)
  • 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
Other preferences
  • 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 Online