This feature is used when there is a person (or vendor, service, etc) that you exchange transactions with regularly. Once the name is on the payee list, it will appear in the “Payor/Pay to” drop down when entering transactions.
- Navigate to Contacts > Select Payee tab
- Click “Add” to create a new payee.
- Enter payee details, as well as Contact Info.
- In the Default Account field, you can a specific Chart of Account where the transaction will be categorized on your General Ledger and other accounting reports.
- Click Save when finished.
- Once saved, the newly created payee is now added to the list.
- Click the requested payee.
- Click “Edit” at the top.
- Enter/change payee details, as well as Contact Info.
- Click “Save” when finished.