About:

Default Accounts are the grouping of accounts that will be used during posting of transactions i.e. your sales, purchases, inventory, receivables, payables and others to the General Ledger to keep track of the activities of these accounts.

 

Notes: If you chose to create your chart of account by copying from an account template, Interprise Suite will assign the appropriate account codes for you. So if you added new, modified or excluded some accounts, it is good to check for the default accounts to fill in any gap. If you chose to create your chart of account by defining each account, you will have to assign account codes for each posting account otherwise no account will be used in default for transactions. When manually assigning the account codes, you will see that these accounts are also copied into the GL Class Templates (default templates for posting from different types of transactions e.g. sales and purchases).

 

 Steps:

Assign Default Posting Accounts

1. From the Default Accounts screen of the New Company Wizard, click on the Edit button. Or, from the Accounting Module, select Default Accounts under the Setup menu. The Default Accounts setup form will display.
2. With the Posting Account column as your reference, select the account codes from the Account Code column. Make sure to fill in all the tabs and the sub tabs.
3. Save the details before closing the Default Accounts setup form.

 

 How To:

Manage Default Accounts

Select where the sales analysis will be based on

 

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 Next Steps: 

• Assign default posting accounts to GL class templates. See Also: Customer GL Class Template | Supplier GL Class Template | Item GL Class Template | Category GL Class Template

 

 

 

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