SETTING A DEFAULT CHART OF ACCOUNT FOR VENDORS
andrewbyrd70
Member Posts: 3
When I am in the transactions screen reconciling, it would be nice if there was a way to set a default chart of account for each vendor so that it auto populates when the bank transaction is downloaded. Is it already there?
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Hi, @andrewbyrd70,
There isn't a way to assign vendors to transactions automatically at this time. I can imagine it would be difficult since that information is not currently collected from bank connections or bank statements, but I'm happy to pass your suggestion along.
In quickbooks, Xero and Sage accounting you can assign a "default" chart of account to each vendor that auto populates when you select it as the vendor. That is what I wish Wave had
Hi, @andrewbyrd70,
I'm not sure I understand what you're asking for. Can you give me more details? Are you looking for nesting accounts (with the vendor as a "parent" account and a variety of "child" expense accounts under it)?
No, what I mean is this: I go into transactions so I can Verify all my downloaded transactions. I click on the tab on the bottom of a transaction that says "details" and then I select a vendor. When I select that vendor, say for example AT&T, I wish the CATEGORY would auto populate with UTILITIES or CELL PHONE EXPENSE or whichever I have preselected for that vendor. I figured you could go to the VEndors tab and add a line that says, DEFAULT CHART OF ACCOUNT and select one so that whenever that vendor is selected the default chart of account shows up
Oh, I see, @andrewbyrd70. Thank you for clarifying. I'm happy to pass your feedback along!