Quickbooks makes the process of sending and receiving payments for your business a breeze. Even without any additional configuration or optimization, Quickbooks will easily take care of these tasks along with numerous other accounting tasks for your business. However, you can make the process even easier by changing some of the default “Checking Preference” settings in your account. To learn more about how to optimize your checking preferences in Quickbooks, keep reading.
So, what’s the purpose of optimizing checking preferences in Quickbooks? The truth is that you can perform all of your accounting tasks without ever touching or changing the setting here, but if you are looking to reduce the amount of time you spend performing accounting work, you should optimize these settings. For starters, Quickbooks loads up the last used account in each new form. If you are creating a form for a different account, you’ll have to manually change this. The checking settings, however, allow you to specify the type of account used for default forms.
Start by selecting the “Preferences” button at the top of your screen followed by the “Checking” option, which is third down from the top. You will then see a new window in the center of your screen with various options and settings related to your Quickbooks checking. The first tab in this new window is labeled “My Preferences.” Go through the different options under “My Preferences” to change the default settings for your Quickbooks checking. You can specify the default accounts for opening new checks, pay bills, pay sales tax and make deposits. As previously states, Quickbooks uses the previous accounts for each of these options unless specified under the “My Preferences” menu. It’s recommended that you select your most used accounts for each of these settings to speed up the process.
After specifying default accounts under the “My Preferences” menu, click on the second tab at the top labeled “Company Preferences.” Doing so will bring up an entirely new set of options associated with your checking.
Some of the options included in the “My Preferences” menu include:
- Select default account for create paychecks.
- Select default account for pay payroll liabilities.
- Option to print account names on voucher.
- Option to start with payee name on check.
- Option to warn about duplicate check numbers.
- Toggle between side-by-side and register mode for downloaded transactions.
- And more…