QuickBooks has a setup wizard that helps you lay the groundwork for your company, but it’s not comprehensive: There are many more decisions you need to make that aren’t covered by the wizard.

Click Edit Preferences to open the Preferences window. Among the options you can set here are:

    • What are the default accounts for activities like writing checks and paying bills?
    • Do you want a one-window or multi-window view?
    • What is the default annual interest rate?
    • Do you want to use inventory and purchase orders?
    • Do you create estimates?
    • Do you want to use multiple currencies?
    • Do you want to use payroll?
    • What reminders would you like?
    • Do you charge sales tax?
    • Do you track time?


The latest in accounting, taxes and financial news and updates.