How to setup Advanced Setting in QuickBooks online

If you are looking for the step-by-step procedure to set up advanced setting in QuickBooks Online then you are at right place. Keep on reading to learn in detail about it. QuickBooks advanced settings will be used as the default setting for financial reports such as profit and loss statement and balance sheet, and cash flow statement.

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Follow some steps to setup Advanced setting in QuickBooks

(a)click on gear icon at the top right
(b)click on account and settings
(c)click Advanced and click edit & save according to preferences.
(d)click edit Company Type.
(e)click edit chart of account and change Discount Account.
(f)click edit categories and change Assign classes.
(g)click edit Automation and tick per fill forms with previously entered content                                                                            & automatically apply credit and save.
(h)click edit other preferences and change customer Label & save other preferences.

Description of each Feature

(A) Accounting:It helps you to store fiscal year for your business. It is of two type cash and accrual.

(B) Company Type:There are option you can choose (a)sole Properties (b)Partnership or LLC   (c)Corporation                (d)Nonprofit

(C)Chart of Accounts: It allows you to enable the following Feature Accounting Number Categories Track                        locations,Discount Account Track classes.

(D) Automation: per-fill forms with previously entered content:
It helps you to automatically complete the field on any form in Quick Books
Based on latest saved transaction customer,vendor and employee.

(E) Automatically apply credits: It helps you to automatically apply credits to the next invoice  you create for the same customer

(F) Copy estimate to invoices:It helps you to quickly create an invoice that your customer has approved.

(G) Automatically apply bill payments:This feature helps you to automatically apply your payments
to the oldest existing bill that you have entered into QuickBooks for a vendor.

(H) Time Tracking:It helps you to easily manage the hours that they work & makes it easy to bill your customers     back for that work if you need to.

(I)Multi-currency: It helps you to track transactions in foreign currencies.

I hope this article is useful for you,In case you need any help  please contact QuickBooks online Customer Service

How to Set Up Advanced Settings in QuickBooks Online

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