Set a Payee’s Default Chart of Account

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

Warning: This article does not apply to trust (escrow) accounting.

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 menu, click Payee.
3. On the Payee screen, take the appropriate action:
   • Set Chart of Account for New Payee
     1. From the toolbar, click + Add Payee.
        The Add Payee panel opens. Click on the arrow in the top left of the drawer to expand it to full screen.
     2. Complete the Name and Print As fields.
     3. Below the Default Account field, click + Add Account.
     4. From the Account fields drop-down, click the default chart of account to which you want to assign payments to this payee.
     5. Complete the remaining fields, if needed or desired.
     6. In the upper right corner, click Save.
        The system saves your payee and default chart of account.
   • Set Chart of Account for Existing Payee
     1. Select the payee, click the three dots at the end of the row, and then from the drop-down, click Edit.
        The Edit Payee screen opens.
     2. Below the Default Account field, click + Add Account.
     3. From the Account fields drop-down, click the default chart of account to which you want to assign payments to this payee.
     4. In the upper 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.