The Company Preferences tab in the Accounting window has many options so we will be covering this section in small parts. So, here is the first part of the Company Preferences tab:
- Use Account Numbers
- Turning this option on will create an extra field that holds optional account numbers. The account number field will appear in the New Account and Edit Account dialog boxes.
- Show Lowest Account Only
- This option is used in conjunction with Use Account Numbers. When turned on, QuickBooks will only show the lowest subaccount when entering transactions. If a transaction is 54000·Utilities:54100·Electric:54110·Main, then only Main will display.
- Require Accounts
- If you constantly forget to assign transactions to their proper accounts, make sure this option is on. Having Require Accounts on will make sure that you cannot proceed with entering a transaction unless you first set it to an account. Turning the option off will cause any transactions with no account to be saved to Uncategorized Income or Uncategorized Expense.