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August 7, 2023
Question

Hi, My company is a Proprietary Limited (Pty Ltd) and I have to update the Company type (in the Quickbooks settings -> Advanced) . Which one out of 8 options is relavant?

  • August 7, 2023
  • 1 reply
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Hi, My company is a Proprietary Limited (Pty Ltd) and I have to update the Company type (in the Quickbooks settings -> Advanced) . Which one out of 9 options is relavant?
Here are the options:
1. Sole trader
2. Partnership or limited liability company
3. Small business corporation, two or more owners
4. Corporation, one or more shareholders
5. Nonprofit organisation
7. Limited liability
8. Not sure/Other/None
9. Trust

Which of the above should I set in the settings for Pty Ltd?

1 reply

August 7, 2023

Hi Muhammad-Awais,

 

Thanks for posting in the Community!

 

We can only guide you on how to set and change a company type in QuickBooks Online. To ensure that you have selected the correct company type, it would be best to consult an accountant or contact ATO.

 

Feel free to post again if you have any other questions, we're here to help.