Chapter 23. Configuring Preferences to Fit Your Company

An organization’s approach to accounting often depends on business objectives, policies, procedures, and the industry in which the organization operates. Maybe you want inventory tracking and payroll or maybe you don’t. The way you and your accountant like to work also influences your organization’s accounting practices. For instance, you might prefer the simplicity of cash accounting or the more intimate pairing of income and expenses that accrual accounting (Accounting Basics—The Important Stuff) offers.

Enter QuickBooks, an accounting program with the Herculean task of satisfying every nuance of business operation and personal proclivity. QuickBooks preferences are configurable settings that accommodate different business styles and personal tastes. During installation, QuickBooks picks the settings likely to work for a majority of organizations. And if you set up your QuickBooks file using the EasyStep Interview (Company Information), you might already have most preferences set the way you want.

But you can reset preferences to control all sorts of QuickBooks behaviors and features, such as whether you create estimates for jobs you go after or how you calculate the amount of inventory that’s available. Preferences also let you turn on QuickBooks features, such as inventory and payroll. Using QuickBooks for a while can make it clear which preferences you need to change. This chapter presents all the preferences that QuickBooks ...

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