To set advanced company settings:
- Click Account and Settings (Or Company Settings)
- Click Advanced.
- Click the edit icon in the section to modify.
- Select the checkboxes for the options you want to include.
- Click Save.
The Advanced company settings is where you or your accountant initially set up your company. 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
- Specify defaults for timesheets, such as adding fields and first day of work week to display
Currency (Available in Essentials and Plus)
- 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.),
- Warnings about duplicate transaction numbers
- Waiting time before you are automatically signed out of QuickBooks