A portable electronic device having an audio jack is provided. The device comprises: a processor provided in a housing; a display screen; a jack provided in the housing, the jack being sized for receiving a plug of an audio accessory of the plurality of audio accessories; electrical connectors provided in the jack for enabling communication between the audio accessory and the processor, each of the electrical connectors for contacting a corresponding electrical connector of the plug; and a switching circuit in communication with the processor and two of the electrical connectors. For the device, upon detection of insertion of the plug into the jack, the processor is adapted to generate a prompt on the display screen to allow selection of a pin-out configuration for the audio accessory from different pin-out options for the audio accessory. A method of configuring audio jacks for an electronic device is also provided.