ChapterÂ 23.Â Configuring Preferences to Fit Your Company
An organizationâs approach to accounting often depends on the type of business it is and its objectives, policies, procedures, and industry. For example, maybe you want inventory tracking and payrollâbut maybe you donât. The way you and your accountant like to work also influences your organizationâs accounting practices. For instance, you might prefer the simplicity of cash accounting to the more intimate pairing of income and expenses that accrual accounting offers (see page xxiii).
Enter QuickBooks, which has the Herculean task of satisfying every nuance of business operation and personal proclivity. The programâs preferences are configurable settings that accommodate different business approaches and personal tastes. During installation, QuickBooks picks the settings likely to work for a majority of organizations. And if you set up your company file by using the QuickBooks Setup feature (Options for Creating a Company File), you might already have most preferences set the way you want.
But you can change the programâs preferences to match the way you work, such as whether you create estimates for jobs you go after and how you calculate the amount of inventory thatâs available. Preferences also let you turn on QuickBooksâ features, such as estimates, sales tax, inventory, and payroll. Using QuickBooks for a while can make it clear which preferences you need to change. This chapter presents all the programâs ...