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What's important about accounting preferences

Company-wide preferences

These affect all users. Only the QuickBooks Administrator can change them.

Use account numbers

Gives you the ability to assign numbers to your accounts. When this preference is in effect, a Number field appears in the New Account and Edit Account windows. QuickBooks includes your account numbers in the chart of accounts, in all Account fields, and on reports and graphs.

Show lowest subaccount only

Show lowest subaccount only

Require accounts

Prevents you from recording a transaction unless you have assigned it to an account.

When this preference is off, QuickBooks allows you to record transactions that have no assigned accounts. QuickBooks automatically assigns these transactions to Uncategorized Income or Uncategorized Expense.

Use class tracking

Lets you categorize transactions by assigning them to the classes on your Class list.

In QuickBooks, classes give you a way to classify your transactions. You can use classes to classify your income and expenses by department, business office or location, separate properties you own, or any other meaningful breakdown of the business you do.

For example, a general contractor might classify all income and expenses as relating to either residential or commercial work. A farmer might create a class for each enterprise—for example, "Corn," "Hogs," and "Soybeans." At the end of an accounting period, the contractor could create separate reports for the residential and commercial parts of the business. Likewise, the farmer could create separate reports for each farm enterprise.

When this preference is on QuickBooks includes a Class field on all transactions.

Prompt to assign classes

Causes a message to appear if you try to close a form with a class field but you have not assigned a class to all the transactions in that form. You can dismiss the message and continue without assigning a class but cannot prevent the message from appearing as long as this preference is selected.

Automatically assign general journal entry number

Automatically assigns a number to a general journal entry. The number assigned is the number of the previous entry plus one. No number is assigned, however, if the number of the previous entry is blank.

When this preference is off, you need to enter the number manually.

Warn when posting to Retained Earnings account

Displays a warning if you are about to post to the Retained Earnings account. In most cases, you should avoid posting directly to this account because it is automatically generated by QuickBooks.

Date Warnings

Specify whether users should be notified if transactions are the specified number of days before or after the current date.

Note: These warnings will be suppressed in an Accountant's Copy, as accountants frequently and legitimately work on older transactions.

Closing date:Set Date/Password

Closing date
KB ID# H_PREF_OV_PREF_ACCOUNTING
9/24/2016 3:35:36 PM
QYPPRDQBKSWS09 9138 Pro 2017 c21cc4