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To tell QuickBooks what your accounting preference is between cash and accrual, click on the same “Accounting” menu.

You can also select the time of the year when you want QuickBooks to close your books for the year.ĭesignating your fiscal year calendar organizes your tax process and records your data so that someone does not change your data by error. However, since your business tax schedule might differ, QuickBooks enables you to designate its start date on your account. Define Your Fiscal Year Start Dateįrom the “Account and Settings” tab, click on “Advanced,” then “Accounting.” January is the usual start of a fiscal year since it is the beginning of the income tax year. Your “Customer-facing address” appears on forms and documents. Then, enter your “Legal address,” which should match the address on file with the Internal Revenue Service (IRS). Company address: Enter the physical location of your business, which QuickBooks will use to calculate your taxes and subscriptions.Then, enter your “Company phone number,” the one you want on invoices and sales forms. Contact information: Enter your “Company email” for communication with the QuickBooks administrator and the “Customer-facing email address” as you want it to appear on forms and documents.Company type: Enter your company type (e.g., sole proprietorship or LLC).Business industry: Enter the type of industry in which your business operates.Otherwise, you’ll need to disclose your SSN to vendors and employees when it’s time for them to file their taxes. However, we recommend you apply for an EIN by filling out Form SS-4, even if you are a self-employed taxpayer. Employer Identification Number or Social Security Number (SSN): Enter your assigned EIN or SSN.Company logo: Import your company logo to reflect on documents and forms.Company and legal name: Enter your registered company name and the name you want to appear on invoices, sales forms and other documents you intend to share with clients.Make sure you enter the correct information-double-check where necessary. You will be asked to enter the following information. Select “ Account and Settings.” The next thing is to click on the “ Company” tab. Then, click on the gear icon to get to your account settings. Federal Employer Identification Number (EIN).