Default Credit Terms

1. Set default credit terms for your customers. This is useful if your credit terms are the same for most customers. You can still set different credit terms for individual customers or change the due date on individual invoices and credit notes.
2. Once set, we use this as the default on all new customer records. When you enter a sales invoice and select a customer, we calculate and print the due date based on the credit terms.
3. If you change this, we don't update the credit terms for existing customers. Manually change any relevant customer records.
4. Invoices due: Enter the required number of days. We add that number of days to the invoice date to work out the due date. For example, for 30 days, an invoice dated 1 May has a due date of 31 May.

Default Ledger Accounts

Income and Expenses

1. Set the ledger accounts we use by default when you enter money in and money out transactions.
2. Income: This sets the category used to record your income on Money In transactions.
3. Expenses: This sets the category used to record expenses on Money Out transactions.

Defaults for Sales

1. We use this as the default ledger account on all new customer records. When you enter a sales invoice and select a customer, we prefill with the ledger account saved on the customer record. You can still change this when entering transactions and when creating new records.
2. If you change this, we don't update the ledger account for existing customers. Manually change any relevant records.

Default for Sales Discounts

We use this category when you add a discount to a sales invoice or credit note.

Default for Vendors

1. We use this as the default ledger account on all new vendor records. When you enter an invoice and select a vendor, we prefill with the ledger account saved on the vendor record. You can still change this when entering transactions and when creating new records.
2. If you change this, we don't update the ledger account for existing vendors. Manually change any relevant records.

Sort Categories

Choose how to sort categories on menus and drop-downs.

• Ledger Name: Lists ledger accounts in alphabetical order followed by the nominal code
  • For example, Other income (4900)
• Nominal Code: Lists ledger accounts numerically by nominal code followed by the name
  • For example, 4900 - Other income

Show Profit and Loss Account Value

Choose whether to show the amount of your Profit and Loss account separately on your Balance Sheet or in your calculated Profit and Loss amount.