You can set default accounts that will apply to your transactions. You can still amend these to other accounts as you process them.
Click the Settings tab.
Click System Settings.
From here you can select the default accounts for your
Retained Earnings
Tax accounts
Cash Sales and Expenses
Retained earnings account
The current period earnings balance (all P&L account balances) will flow into this account in the next period. This must be an account that falls under an Equity or Reserve classification.
📎NOTE: If you change this account in any period, that change will be reflected in all prior periods also.
Tax accounts
Selections you make for your Tax accounts indicate where tax amounts will be posted when you post any bank transactions with tax or use Sales or Expense batch entries.
It's possible to change the designated account here after you make entries, but this will change the tax account set in all of the existing entries in the current period as well. Any changes you make will flow through these accounts for existing and future entries across all periods.
Default account for Cash Sales and Expenses
These selections indicate where the total/gross amounts will be posted when you use Sales or Expense batch entries.
When you make changes here this will not change the account in existing entries. You would need to change existing entries manually. However, it will change it for future batch entries by default.
It's always possible to change the account for Total/Gross amounts within a sales/expense batch entry. It's only for taxes that the designated account should remain consistent across all entries in a period.
Duplicate Check
You can also set the number of days for the duplicate check in this section. This duplicate check applies when importing cash sales or cash expenses from AutoEntry Sales/Purchases folders. For example, where a sales invoice is raised on the first but the cash is not lodged, and thus appearing on the bank statement, until the third. You can set the number of days that AccountsPrep will check for a duplicate.
Also, you can set if the reference field (the description on the statement) is to be ignored or be an exact match to the supplier/customer name on the imported invoices:
