Use account numbers. Checking this box allows assigning account numbers in addition to account names. By default, this feature is not selected.
Show lowest subaccount only. If you have subaccounts under the parents’ accounts, checking this box will only show the lowest subaccount level, a good way to prevent users posting to the parents’ accounts.
Require accounts. If you turn off this box and record transactions without assigned accounts, QuickBooks will post the transactions to Uncategorized Income or Uncategorized Expense accounts. For example, if you write a cheque without assigning an account for the withdrawal, that expense will be posted to Uncategorized Expense account.
Use class tracking for transactions. If you want to create classes, you have to turn on this box.
Prompt to assign classes. If you use class tracking feature for your business, to get a correct reports by class, you have to assign classes to all your class-related transactions. If you turn on this box, QuickBooks will prompt you to assign a class in case you forget the assignment.
Automatically assign general journal entry number. Turning this box on will allow the program to assign journal number when you create a general journal entry. QuickBooks will increment the previous general journal number by one automatically.
When posting a transaction to Retained Earnings. This preference warns users before posting any transaction to Retained Earnings account.
Date Warnings. This feature is to warn inadvertent transactions in the past and future where you can select the number of days.
Set Date/Password. This feature is usually used at the end or after fiscal year corporate tax to prevent accidental posting to the previous fiscal year. In other words, it is used to close your company books and lock it so no one can change anything. Click Set Date/Password to open the dialog box:
Choose your password and enter it the Closing Date Password and Confirm Password. As a result, nobody can change a transaction prior to closing date without a password.