Payables default account settings

Note: Don't see this? If all goes well based on feedback and usage, expect its wider release in a future update.

From Payables, Settings, you can designate specific accounts to use in distributions for accounts payable summary, discount, reclassification, and purchase order encumbrance under Configuration, Default Accounts. Select a single account to automatically balance by fund and segment when you enter debit accounts, or you can select multiple accounts to specify an account hierarchy with a primary default account and several secondary default accounts to use in certain circumstances.

Note: With reclassification accounts, you enter a single default account to ensure that projects, classes, and transaction codes attached to credit memos stay balanced.

• Single account — Adds the same account for all invoices and credit memos. Search for an account number or select to mask the account.

• Multiple accounts — Adds new default accounts based on the fund segment from an invoice. You'll also select the account code and department to use for these new accounts. For example, designate account **-2000-00 as the default accounts payable summary account. Asterisks represent the fund from data entry that you can't change, 2000 represents the account code, and 00 represents an additional segment.