Transaction Settings
You can set Patriot’s Accounting Software to automatically update your accounts when you perform specific activities (e.g. receiving customer payments). When you first set up your accounting software, Patriot will set your default payment accounts to Checking for recording customer deposits for payments to you, and vendor withdrawals for payments from you.
If you need to make changes, go to Settings > Accounting > General Setup > Transaction Settings
- Make your changes, and click Save.
- When an activity is completed, you can view these transactions in your General Ledger report.
Accounting Basis: You can choose an accounting basis of Cash, Modified Cash, or Accrual basis accounting, depending on how you want to record transactions. For more details, see Which Accounting Basis Should I Use?
When Receiving Customer Payments: At the time you enter a payment received from a customer, you will automatically record the payment received into a bank or cash account of your choice. Select the account in the dropdown list.
When Paying Vendors: When you pay a vendor, the outgoing payment can be automatically recorded to a bank or cash account of your choice.
Patriot Smart Suggestion: If you import outside transactions from your bank and want to turn off Patriot’s Smart Suggestion feature that automatically suggests expense accounts, you can do this here. See the help article Managing Your Imported Bank Transactions.
Payment Processor: You can also manage your credit card payment settings on the Transaction Settings page. See the help article Accepting Credit Card Payments on Customer Invoices.
💡 If you use Patriot Payroll Software, you will maintain the accounts used for recording payroll under Settings > Payroll Settings > Payroll Integration Settings. For more details, see Integrating Patriot Payroll with Patriot Accounting.
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