Default Posting Accounts

Default Posting Accounts

Default Posting Accounts​

These accounts are used in various situations in the software and may be changed on individual documents.

Set the following default posting accounts to use when another account has not been specified:

  • Bank
  • Undeposited Funds
  • Sales
  • Cost of Goods Sold (COGS)
  • Expense
  • Inventory
  • Tax Payable
  • Shipping Income
  • Discounts and Allowances
  • Exchange gain or loss
  • Other current liability
  • Inventory Received Not Yet Billed

To select the account, choose it from the drop-down list. If the account does not exist, it may be created by choosing show all from the drop down list and clicking Create.


    • Related Articles

    • Default Chart of Accounts

      AccountingSuite™ comes with a generic chart of accounts that can be modified to fit your needs.   The attached document is a list of the accounts included.

    • Sample Chart of Accounts

      CHARTS OF ACCOUNTS Category Account Code Description Current Assets 1000 Petty Cash 1010 Cash on Hand (e.g. in cash registers) 1020 Regular Checking Account 1030 Payroll Checking Account 1040 Savings Account 1050 Special Account 1060 Investments – ...

    • New Chart of Accounts Groups & Upgraded Financial Reports!

      New Chart of Accounts Groups & Upgraded Financial Reports! Check out the video below! Create a better organized/easier analyzed Chart of Accounts with our new non-posting Account Groups! Unlimited hierarchy for account structure with Group, Parent ...

    • I tried to clear a posting on a shipment but got an error.

      If you are unable to post or delete a shipment, check to ensure that you don't have a Sales Invoice / Cash Receipt / Credit Memo created after the Shipment date. You'll need to clear the posting in the backwards order in which they were created. If ...

    • AccountingSuite™ Release Updates, Jack Russell 1: New Chart of Accounts Groups & Upgraded Financial Reports!

      AccountingSuite™ Release Updates, Jack Russell 1: New Chart of Accounts Groups & Upgraded Financial Reports! Check out the video below! Create a better organized/easier analyzed Chart of Accounts with our new non-posting Account Groups! Unlimited ...