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When you update the Date format settings, the changes will also apply to your previous entries. The dates for your past transactions will still be the same, but the format is no longer the same as what was previously set in QuickBooks Online (QBO).
For more details, feel free to read this article: How do I set my advanced account settings? It provides a list of Preferences available in the Advanced section.
Additionally, this reference covers all the details on how to customize QuickBooks to help you manage your business smoothly: Configure Accounts and Settings. The article is from another region, but it also applies to the US version.
Keep in touch if you have other questions or concerns about the Date format preference. Iβm always ready to help and get this taken care of for you. Have a great day ahead.