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    Setting Preferences in QuickBooks

    		  
    2009.0721  

    Clients sometimes overlook or do not understand the importance of properly setting QuickBooks Preferences.  Since QuickBooks does not display disabled features in menus, icon bars, or on the homepage (desktop), users may be unaware of QuickBooks features that could help them in their daily tasks.  Features such as Purchase Orders, Sales Orders, and Sales Tax are enabled via Preferences.

    The table shown below lists my recommendations to be used as a starting point for your QuickBooks Preferences settings.  Please be aware that your edition and version of QuickBooks may be different than the presentation below -- however, this table is rather consistent between editions and versions.

         
    		 

    Preferences

    Function

    My Preferences

    Company Preferences

    Accounting

    N/A
    • Use account numbers
    • Require accounts
    • Use class tracking
    • Automatically assign general journal entry number

    Checking

     
    • Change check date when check is printed
    • Enable warnings

    Desktop View
    • Save desktop when closing company
    • Show Home page when opening a company file
    • Accept the defaults.  “Related Preferences” will change as you select preference options elsewhere.

    General
    • Pressing Enter moves between fields
    • Enable warnings
    • Always show years as 4 digits

    Items & Inventory

    N/A
    • Enable Inventory and Purchase Orders
    • Enable warnings

    Jobs & Estimates

    N/A
    • Enable Create Estimates
    • Enable Progress Invoicing
    • Enable warnings
    • Print items that have a zero amount

    Payroll & Employees

    N/A
    • Enable Full Payroll Features
    • Enable Job Costing, Class and Item tracking
    • Assign one class per earnings item

    Reminders
    • Show Reminders List when opening a Company file
    • Accept defaults

    Reports & Graphs
    • Refresh automatically
    • Use Accrual for Summary Reports Basis
    • Cash Flow Classifications should ONLY be adjusted if there is a problem, and then ONLY by qualified personnel

    Sales and Customers
    • Accept defaults
    • Enable warnings

    Sales Tax

    N/A
    • Owe Sales Tax upon receipt of payment
    • Mark taxable amounts with “T” when printing
    • Click ‘Yes’ on the Charge Sales Tax option, set the preferences shown above, and click ‘No’ on the Charge Sales Tax option to move to the next group.  We will enable this later.

    Spelling
    • Enable Spell Check

    N/A

    Time Tracking

    N/A
    • Enable Time Tracking
    		 
       
    As a general rule, it is better to enable a feature (you don't have to use a feature just because it's enabled) so at least you know it's there -- that knowledge could come in handy one day.  Also, it is best to keep all warnings enabled -- particularly those that warn of duplicate reference number entries.