In Cosmolex, you have the option to set a default chart of account for payees so when you enter a transaction for a business expense such as a phone bill, or for rent, the payee when entered will automatically populate the chart of account which saves time having to choose from a list of chart of accounts in the add transaction window.


To do this:


  • Go to Contact > Click Payee tab > Click Add/Edit



In the Add/Edit Payee Window:



Payee Details

  • Type in Name(In the Print as field the name will auto-populate here once you click in this field)
  • Default Account: Choose the chart of account for this payee. 
  • Notes: Type in any additional info about the payee. This will show for internal use only.


Contact Info

  • Put in contact info such as address, email, phone number, etc.
  • When ready, click Save.


When you enter a payment transaction in your business or operating account, where it says payee, you would type in the payee name and the chart of account will automatically populate as shown below: