You can set up default GL accounts for all companies interacting with all entities, and for particular companies when interacting with particular entity, and for particular contracts of specific companies.

The "GL Accounts for Companies (create)" form

Use the Entity field to specify whether the setting is applicable to all entities or to a specific entity. If you are setting up the default accounts for the particular entity, the Entity field is not empty.

If you are setting up the default accounts for all companies, the Company field is empty, and the selected accounts will be applied to all companies. If you select a group of companies, then the setting will be applied to all companies of the group. If a company is selected in the Company field and the Contract field is empty, the settings are applicable to all contracts of the company.

In the Contract field, you can select a particular contract if you need separate account to register the transactions related to this contract.

The GL Accounts section

In the Accounts Receivable field, specify the account to record the customer company's debt to the entity (if selected in the Entity field).

The Advances Received field indicates to which account the advances received from customers to the entity are recorded.

The Accounts Payable field shows the account intended for recording the entity's debt to the selected company; generally used for recording transactions with suppliers.

The Advances Paid field is intended for the account to be used to record advances paid to suppliers (supplier).

The Loans Received field holds the account intended for recording long-term loans issued by the entity to this company.

The Loans Issued field holds the account intended for recording long-term loans received by the entity from this company.

The PDCs Received field is intended for the account to be used for recording the post-dated cheques received by the entity from the company.

The PDCs Issued field is intended for the account to be used for recording the post-dated cheques issued by the entity to this company.

The toolbar buttons

Click Save and Close to save the item default accounts or changes to such accounts. Click Close to close the form without saving.