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

Set advanced company settings

  1. Select the Gear icon at the top, then Account and Settings (or Company Settings).
  2. Select Advanced.
  3. 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

Time tracking

  • Specify defaults for timesheets, such as adding fields and first day of work week to display
Language (Canada 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.),
  • Warnings about duplicate transaction numbers
  • Waiting time before you are automatically signed out of QuickBooks