Out of the box, the standard behavior for the Receive Money window is Sage 50 is to remember the last account that was use in the Cash Account field. Sometimes that is fine, but other times it causes problems. For example, a common way to write off bad debt is to receive a dummy payment against the invoice and change the cash account to Bad Debt Expense. You might forget you did that but Sage 50 won’t, and your next cash receipt will post to Bad Debt instead of your bank account, unless you remember to change it.
The primary way to solve that problem is to set a default cash account for cash receipts. This feature was new in release 2020.2. Go to the Maintain menu > Default Information > Customers. At the bottom of the Terms and Credit tab you’ll find a check box and words Cash Account. If you check that box you’ll be able to set a default cash account for the Receive Money window. You’ll still be able to choose a different account when entering transactions, but the next transaction will automatically revert back to the account you designated as the default.
Another related option is the ability to set a default cash account for each customer. This could be useful if you have offices in different cities each with their own local bank account, of if different payment methods (such as PayPal) are linked different bank accounts. Go to the Maintain menu and choose Customers. Select a customer. On the Payment & Credit tab find the Receipt Settings section. Clear the check box next to Use payment method and cash account from default settings. Then select a payment method and a cash account for this customer. This setting will override the choice you made in Maintain Default Information. As always, you can still select a different payment method and/or cash account when entering a receipt for this customer.
