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Use Setting to Customize QuickBooks Online

Published by Angie Douglas on 28 Feb 2018

When you the setting feature, you can customize your QuickBooks Online to make it easier, faster, and a better fit to your business. QuickBooks Online was built to be versatile in design so that it can be of use to a variety of businesses, making it a very popular accounting program for many small businesses.

To set up the program for your business, the first thing you will want to do is go to the upper right corner and click on the small gear icon. This will display all options or preferences in QuickBooks. 

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When you click on the small gear icon in the upper right corner of QuickBooks Online, this window containing the site’s many options will open.

Global Settings

The first screen you should visit is Account and Settings. This page is divided into five sections, accessible by clicking on one of the tabs below:

Company. Your company’s name and contact information appears here, as well as identifying details like your industry and the tax form you file.

Sales- You can do much customizing in this section that will affect your company’s selling activities. For instance, you may specify your preferred invoice terms and delivery method, as well as to indicate whether or not to turn on features like:


* Custom fields and transaction numbers

* Discounts

* Quantity and price/rate

* Inventory quantity on hand

You can also access the site’s tools for customizing the design and layout of your sales forms (invoices, receipts, etc.).

Expenses. Here you will select expense-related tools to turn on and off here. For example, track expenses and items by customer and make them billable. Will you be using purchase orders? What will your default bill payment terms be?

Payments.  Here, you can set up a merchant account that will allow you can accept credit cards and bank transfers from customers through QuickBooks Online. If you already have a merchant account, you can connect it here.

Advanced. This section is named “Advanced” for a good reason. If you are not familiar with some of the concepts here, like “closing books” and specifying default accounts for items like Markup. We can review these things with you and help you make decisions.

Though you may still want some guidance, other entries in this list are easier to complete. Will you support multiple currencies? Automatically apply credits and invoice unbilled activity? Make individually-tracked time activities billable to customers?

Other Preferences

There are many other areas in this window that you’ll want to explore before you start processing a lot of transactions in QuickBooks Online. If more than one person will have access to the site (we’ll assume you’re the Administrator), you must click on Manage Users. Here, you can set limits of what other employees can access. Click New on the screen that opens to launch this mini-interview, and follow its instructions:

Before you start processing a lot of transactions in QuickBooks Online, there are many other areas in this window that you’ll want to explore. When more than one user will access your site and you are the Administrator, you should click on Manage Users. Here you are able to set limits to what other employees will be able to access. Click New one the screen that opens to launch this mini-interview, and follow the instructions: 

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You can restrict users to specific areas of QuickBooks Online.

Preferences you should also review include:

* Chart of Accounts. Review these to familiarize yourself the accounts that make-up the base of your accounting data. You will use these in your transactions. Do not make changes here without talking to us first.

*All lists. Review to see what is available here, for example, Classes, Recurring Transactions, and Payment Methods.

* Products and Services. Review to start building records for the items and services that you sell. If you carry inventory and have never worked with a program that helps you manage it, we can assist you with the concepts.

* Budgeting. Do you plan to create a budget? QuickBooks Online contains a tool to assist you will this critical task.

* Audit Log. Will multiple people be using QuickBooks Online? This allows you to track all activity by date and user.

Although QuickBooks Online is easy to use, there is much to learn when customizing the program to meet the needs of your company. We can assist you through the basics. 

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To explore the customization options offered by QuickBooks Online, click the small gear icon in the upper right corner. Contact us before you modify your company’s Chart of accounts. If you are adding a new employee, we can assist you with the tools available to limit site access.

At Summit CPA we offer QuickBooks consultation. If you would like further information on how we can assist you with your bookkeeping needs, contact our office at 866-497-9761 to schedule an appointment with our Virtual CFO.

                                                              WE SPECIALIZE IN VIRTUAL BOOKKEEPING & ACCOUNTING OUTSOURCING

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