---
title: "Company Accounting Defaults | ERPNext Documentation"
description: "Configure receivable, payable, cash, bank, income, expense, Cost Center, rounding, and exchange accounts for an ERPNext company."
space: "ERPNext"
url: "https://docs.frappe.io/erpnext/company-accounting-defaults"
updated: "2026-07-30"
---

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](https://docs.frappe.io/erpnext/chart-of-accounts), [Fiscal Year](https://docs.frappe.io/erpnext/fiscal-year), and [Cost Center](https://docs.frappe.io/erpnext/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 |


![Company party account defaults](/files/company-default-party-accounts.webp)

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.

![Company income and expense defaults](/files/company-default-income-expense.webp)

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                              |


![Company adjustment account defaults](/files/company-default-adjustment-accounts.webp)

## 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.

## Related topics

- [Accounts Settings](https://docs.frappe.io/erpnext/accounts-settings)
- [Chart of Accounts](https://docs.frappe.io/erpnext/chart-of-accounts)
- [Bank Accounts and Modes of Payment](https://docs.frappe.io/erpnext/bank-accounts-and-modes-of-payment)
- [Opening Balance](https://docs.frappe.io/erpnext/opening-balance)