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CCH Software User Documentation

Setting up Ledger defaults

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Ledger defaults allow you to specify the defaults used for a supplier. These values can be changed for each individual supplier on the supplier details page but when set up or modified in the Ledger Defaults page would apply to all new suppliers.  These settings affect how billing and payments are carried out and can also have a carry on effect with ledger calculations (tax rate applied, for example).

Set up Ledger Defaults

Fields that must be defined are:

  • Nominal Account: This defines the main nominal account that will be for the supplier.
  • Payment Type: The payment type relates to the manner in which a payment is made.  Payments to a ledger may be made or received in a number of ways.  This option creates a default type.
  • Supplier Terms: This relates to the time at which payment is expected by the supplier.
  • Tax Rate: Tax rate relates to the default amount of tax that is applied to the payment.
  1. From the main menu select Maintenance > Ledger Maintenance > Ledger Defaults.

  2. In the Ledger Defaults window, select the default Nominal Account.

  3. Select the default Payment Type (e.g. BACS, Cash, Cheque, Direct Debit, Standing Order, Other).

  4. Select the default Supplier Terms ( e.g Days, Month End Day, Payment Day).

  5. Select the default Tax Rate (e.g. Discount Rate, Exempt, Standard, Zero)

  6. Click OK to save the changes and exit the Ledger Defaults window.
    The defaults set up here will be applicable to all new suppliers created from this point forward.

 

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