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Set a Payee’s Default Chart of Account

You can set up a default chart of account for vendors or payees to which you frequently or regularly submit payments. This will save you time and ensure reporting accuracy. 

This article does not apply to trust (escrow) accounting. For more information on what chart of accounts are selected when recording trust transactions, see Add a Trust Withdrawal Transaction

Set a Payee’s Default Chart of Account

To set the default account:

  1. From the left navigation panel, click Contacts.
  2. From the Contacts left navigation, click Payee.
  3. On the Payee screen, take the appropriate action:
    • Set Chart of Account for New Payee
      1. From the toolbar, click Add
        The Add Payee screen opens.
      2. Complete the Name and Print As fields. 
      3. From the Default Account field’s drop-down, click the default chart of account to which you want to assign payments to this payee.
      4. Complete the remaining fields, if needed or desired.
      5. In the lower right corner, click Save
        The system saves your payee and default chart of account.
    • Set Chart of Account for Existing Payee
      1. Either double-click the payee, or single-click it, and then from the toolbar, click Edit
        The Edit Payee screen opens.
      2. From the Default Account field’s drop-down, click the default chart of account to which you want to assign payments to this payee.
      3. In the lower right corner, click Save
        The system saves your payee’s default chart of account. When you enter a payment transaction in your business or operating account, selecting the payee will automatically populate the account field.

Set a Payee's Default Chart of Account GIF

Updated on March 25, 2022

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