Set your default product accounts
Your default product accounts are the ledger accounts Sales Scribe falls back to when a product does not name its own. Setting them once means you rarely have to think about accounts while creating products or invoicing.
Before you begin
- You need to be signed in with the organisation selected.
- The default product accounts are part of Accounting Settings — go to Settings → Accounting Settings and find the Default Product Accounts card.
The default accounts
The Default Product Accounts card holds:
- Default Sales Revenue — the income account a product's sales are recorded to. (Required.)
- Default Purchase Expense — the expense account used when you buy the item as an overhead. (Required.)
- Default Cost of Goods Sold — where the cost of a sold stock item is recorded. (Required.)
- Default Inventory Asset — the value of stock you are holding but have not yet sold. (Required.)
- Default Purchases (Periodic) — direct purchases under the periodic inventory method. (Optional.)
Choose an account for each from its drop-down and select Save Settings.
How the defaults are used
When Sales Scribe needs an account for a product line, it works from the most specific setting to the most general:
- The product's own account, if the product names one.
- The product's category account, if its category sets one.
- The organisation default from this page, if neither of the above applies.
Because of this fallback, most products need no account settings at all — they simply use the category or organisation defaults. You only set an account on an individual product or category when you want it to post somewhere different from the default.
[Screenshot required: Default Product Accounts card in Accounting Settings]
Where each is set
| Level | Where you set it |
|---|---|
| Organisation default | Settings → Accounting Settings, this card |
| Per category | The category's Ledger Accounts section — see Product categories |
| Per product | On the individual product |
Important notes
Note: The default Cost of Goods Sold and Inventory Asset accounts only come into play for products set to track stock and marked for resale. For a plain service, only the sales (and, if you buy it, the purchase expense) account is used.