SETTING A DEFAULT CHART OF ACCOUNT FOR VENDORS

andrewbyrd70andrewbyrd70 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?

Comments

  • AlexiaAlexia Member Posts: 3,314 ✭✭✭✭

    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.

  • andrewbyrd70andrewbyrd70 Member Posts: 3

    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

  • AlexiaAlexia Member Posts: 3,314 ✭✭✭✭

    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)?

  • andrewbyrd70andrewbyrd70 Member Posts: 3

    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

  • AlexiaAlexia Member Posts: 3,314 ✭✭✭✭

    Oh, I see, @andrewbyrd70. Thank you for clarifying. I'm happy to pass your feedback along!

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