Receivables Default Accounts
Use default accounts to direct Receivables distributions to specific ledger accounts. Under Settings, select Receivables, Configuration, and Default accounts. Configure accounts for summary transactions, discounts, reclassification, and unapplied payments.
Receivables Summary — Select at least one default account to support consistent posting and reconciliation. Summary accounts default on the credit side for payments and on the debit side for charges and credits.
Warning: Post all Receivables before changing between single and multiple accounts.
Single account — Use the same account for charges, credits, and payments, including applied and unapplied payments, unless you assign a separate account for Unapplied Payments. If the fund requires balancing by net asset class, use the same net asset class for all Receivables transactions to avoid unbalanced financial statements. A single account doesn't allow you to select different accounts on records. Debit distributions don't display for charges, and credit distributions don't display for payments.
Multiple accounts — Create default accounts using the fund segment from a charge. Specify the account code and department. For example, use **-2000-00 as the default account. The asterisks represent the fund segment from data entry, which you can't change; 2000 is the account code, and 00 is the department. When an invoice credits account 01-5200-00, the debit account defaults to 01-2000-00.
Note: Add interfund entries before adding charges, credits, or payments that use different funds. You can't save distributions for non-balancing accounts without a corresponding interfund entry.
To select account ranges without entering each account number, use an account mask as described in Mask Accounts.
Tip: The Use a single receivables summary account and never post applications business rule allows only one summary account.
Discount — Select at least one default account for discounts.
Single account — Use the same account for all invoices and credit memos.
Multiple accounts — Create default accounts using the fund segment from an invoice. Specify the account code and department. For example, use **-2000-00 as the default account. The asterisks represent the fund segment from data entry, which you can't change; 2000 is the account code, and 00 is the department. When an invoice credits account 01-5200-00, the debit account defaults to 01-2000-00.
To select discount account ranges without entering each account number, use an account mask as described in Mask Accounts.
Reclassification — Use a single default account to keep projects, classes, and transaction codes attached to credit memos balanced.
Tip: Reclassification is available when your organization uses multiple summary accounts.
Unapplied Payments — Select a default account to keep unapplied payments separate from the Receivables summary account. This supports reconciliation and helps you track the unapplied payment balance. The selected account appears automatically on new payments.
Tip: Unapplied payment accounts are available when your organization uses multiple summary accounts.