Party GL Account Defaults

You can create Party Sub-ledgers using this setting. Normally, all customer receivables would generally get posted to the Accounts Receivable GL account. This would make Party-wise reconciliation of large accounts easier. In the case of small accounts, the Customer Ledger report itself gives you the details of all outstanding.

In the case of parties that are Customer as well as Supplier, you can neatly separate these transactions by using a separate GL Account for Accounts Receivable and Accounts Payable.

To set up a Party A/c-GL Account default, choose the Party and specific Role, such as Bill-to Customer. For the GL Account Type to be mapped, such as Customer or Accounts Receivable, choose the GL Account ID and click Create.

To Update Or Remove a default setting, click the corresponding link against the item.

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