Preferences are the options you can change inside of QuickBooks. To access preferences click on the gear icon in the upper right hand corner of the screen.
The preferences I encourage everyone to review: 1. Accounting Method cash or accrual 2. Chart of Accounts- Enable Account Numbers 3. Track Classes.
To change these 3 items A. Click the gear icon B. Click “Account and Settings” C. Click “Preferences.”
“Manage Users” in the gear icon allows you to add an accountant user or an employee user. Inside “Manage Users” you (the Admin) may add “New” user and limit user access as well as print reports showing the date and time the user accessed your QBO account. Very helpful.
“Chart of Accounts” is probably the most important preference in the gear icon. After clicking on “Chart of Accounts” you may add or delete accounts you want or don’t need. I recommend deleting Miscellaneous Account. Every transaction seems to be posted into this account. To edit all the accounts quickly, click the pencil icon. To import your Chart of Accounts into QBO from Excel, Click “New” drop down menu, click “Import.”
To Import or Export Vendor or Customer details such as address and phone numbers click the gear icon, then click “Import” or “Export” under Tools heading.
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