This window lets you choose the default general ledger accounts you want to use for expenses and sales.
Default Expense Account: Enter or select the default expense account for all vendors converted from QuickBooks. This account is the category or "bucket" where purchases from converted vendors will go as you use Sage 50.
Notes: You can later change this default as desired. See "After the conversion" below.
The account you choose here applies only to converted vendors. After conversion, you will still have to set up a Sage 50 default expense account in Vendor Defaults. This account will apply automatically to all new vendors.
Default Sales Account: Enter or select the default sales account for all customers converted from QuickBooks. This account is the category or "bucket" where sales from converted customers will go as you use Sage 50. You can later change this default as desired. See "After the conversion" below.
Since each vendor and customer converted from QuickBooks is assigned the default accounts you choose here, more than likely you'll want to change the defaults for special vendor and customer types.
For example, you might use a utilities expense account for an electric company vendor; or a legal expense account might be assigned to a lawyer set up as a vendor.
You can change the defaults for individual vendors or customers in Sage 50 at any time. See the links below.