Company accounting defaults
Company accounting defaults tell ERPNext which accounts and Cost Center to use when a transaction does not provide a more specific value. Configure them carefully for every company.
Before you begin
Create the company’s Chart of Accounts, Fiscal Year, and Cost Center. The accounts must belong to the same company.
Configure default party accounts
Open Company, select the company, and go to the Accounts tab.
| Field | Used for |
|---|---|
| Default Receivable Account | Customer balances and Sales Invoices |
| Default Payable Account | Supplier balances and Purchase Invoices |
| Default Cash Account | Cash payments and receipts |
| Default Bank Account | Bank payments and receipts when no more specific account is selected |
Party-specific accounts on a Customer or Supplier can override the company defaults. A Mode of Payment can also supply a payment account.
Configure income, expense, and Cost Center defaults
Set the normal income account, expense account, and Cost Center for the company.
ERPNext normally resolves transaction defaults from the most specific source available. Item, Item Group, Warehouse, Customer, Supplier, and transaction values can take precedence over company defaults.
Configure adjustment accounts
Set accounts used for write-offs, exchange differences, and rounding.
| Field | Typical use |
|---|---|
| Write Off Account | Small residual balances written off during payment or reconciliation |
| Exchange Gain/Loss Account | Realized currency differences |
| Unrealized Exchange Gain/Loss Account | Revaluation of outstanding foreign-currency balances |
| Round Off Account | Small differences caused by currency precision |
| Round Off Cost Center | Cost Center used for the rounding entry |
Other company accounting defaults
Review deferred accounting, advance payments, exchange-rate revaluation, budgets, and fixed-asset defaults if your business uses those features. Do not fill every field simply because it exists. Configure a section when the related process is in scope.
Verify the setup
Create one draft Sales Invoice, Purchase Invoice, Payment Entry, and Journal Entry. Confirm that accounts and Cost Centers are fetched as expected. Submit only test transactions that can be safely cancelled.
Troubleshooting
An account does not appear in the field
Confirm it is a ledger account, belongs to the same company, is not disabled, and has the correct root or account type.
A different account is selected
Check the Item, Item Group, party, Warehouse, Mode of Payment, and transaction row. A more specific default may be taking precedence.