Step 6 - Default Accounts
The Default Accounts sets which General Ledger accounts will be used as the Defaults when creating Categories. Categories will be covered off in the following article - Understanding Accounting Integration - Categories - Introduction
For now let's continue with the Default Accounts:
The fields are:
- Sales Income
What default General Ledger account do you want to use as default for any Sales Income
We would recommend that you indicate a Parts Revenue / Sales General Ledger
- Cost of Goods Sold
What default General Ledger account do you want to use as default for any COGS
We would recommend that you indicate a Parts COGS General Ledger
- Inventory
What default General Ledger account do you want to use as default for Inventory
We would recommend that you indicate a Parts Inventory General Ledger
- Miscellaneous Income
What default General Ledger account do you want to use as default for any Miscellaneous Income
We would recommend that you indicate a Miscellaneous Income General Ledger
- Sales Tax
What default General Ledger account do you want to use as default for Sales Tax
We would recommend that you indicate the BP Tax account for sales that was created with your Chart of Accounts
Remember that these are just defaults so that when you start creating Categories in the next step, your categories don't end up with blank General Ledger fields. Categories with default General Ledgers can be just overridden if they do not suit your purpose.