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

Note: That Advanced Company Settings vary by region. Check out your region below for more information.

 

 

 

 

How to set your advanced company settings

  1. Select the Gear icon on the Toolbar, 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.

For users in the US and India

Accounting:

  • Set up the fiscal year and set the closing date.
  • Specify your accounting method.

Company Type:

  • Select the type of tax form your company uses.

Chart of Accounts:

  • Enable or disable use of account numbers

Categories:

  • 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

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're automatically signed out of QuickBooks Online.

 

For users in Canada

Accounting:

  • Set up the fiscal year and set the closing date.
  • Specify your accounting method.

Company Type:

  • Select the type of tax form your company uses.

Chart of Account:

  • Enable or disable use of account numbers.

Categories:

  • Add "class" and "location" fields on your forms.

Automation:

  • Pre-fill forms.
  • Automatically apply debits and credits.

 

Projects:

  • Project features 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:

  • 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.
  • Warnings about duplicate transaction numbers.
  • Waiting time before you're automatically signed out of QuickBooks Online.

 

For users in the UK

Accounting: 

  • Set up the fiscal year and set the closing date
  • Specify your accounting method

Construction Industry Scheme (CIS):

  • Enable CIS if you're in the construction industry

Company Type:

  • Select the type of tax form your company uses.

Chart of Accounts:

  • Enable or disable use of account numbers

Categories:

  • 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.

Currency (Essentials and Plus Only):

  • Select if you accept transactions in foreign currencies.

Other Preferences:

  • Date and number format
  • Warnings about duplicate transaction numbers
  • Waiting time before you're automatically signed out of QuickBooks Online.

 

For users in South Africa, Singapore, Brazil, Australia, and the Rest of the World

Accounting:

  • Set up the fiscal year and set the closing date.
  • Specify your accounting method.

Chart of Accounts:

  • Enable or disable use of account numbers.

Categories (Found in the "Company" tab):

  • 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.

Currency (Essentials and Plus Only):

  • Select if you accept transactions in foreign currencies.

Other preferences:

  • Data and number format.
  • Warnings about duplicate transactions numbers.
  • Waiting time before you're automatically signed out of QuickBooks Online.

That's it. You now know how to set up your Advanced company settings.