Accounts Settings

Accounts Settings contain global configuration options for the Accounting module. These settings control how transactions are processed, how taxes are applied, and how periods are managed.

Access from: Accounting > Settings > Accounts Settings.

Transaction Settings

• Auto Set Party Account: Automatically set receivable/payable accounts based on Customer/Supplier defaults.
• Unlink Payment on Cancellation of Invoice: When cancelling an invoice, automatically unlink any linked payments.
• Book Asset Depreciation Entry Automatically: Auto-generate depreciation journal entries based on asset schedules.
• Make Payment via Journal Entry: Enable payments through journal entries (instead of Payment Entry).

Tax Settings

• Automatically Add Taxes and Charges from Item Tax Template: Add taxes to transactions automatically based on item tax templates.
• Apply Tax Withholding on Payment: Deduct withholding tax at the time of payment, not at invoice.

Period Closing Settings

• Role Allowed to Close / Freeze Books: Select which role can close accounting periods.
• Freeze Accounting Entries up to Date: Lock transactions up to a specific date to prevent backdated entries.

Deferred Accounting Settings

• Book Deferred Entries Based on: Choose whether deferred entries are booked "On Save" or "On Submit".
• Process Deferred Accounting: Set how frequently deferred entries are automatically processed.

Print Settings

• Show Inclusive Tax in Print: Display total amount including tax on printed invoices.
• Print Tax Breakup: Show the detailed tax breakdown on printed documents.

Exchange Rate Settings

• Allow Stale Exchange Rates: Set the number of days before an exchange rate is considered stale.
• Auto Set Exchange Rate on Selection of Currency: Automatically populate the exchange rate field.