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Outstanding accounts

By default, payments are registered through transitory accounts named outstanding accounts, before being recorded in your bank account.

  • An outstanding payments account is where outgoing payments are posted until they are linked with a withdrawal from your bank statement.
  • An outstanding receipts account is where incoming payments are posted until they are linked with a deposit from your bank statement.

These accounts should be of type Current Assets.

Configuration

Default accounts configuration

The outstanding accounts are defined by default. If necessary, you can update them by going to Accounting ‣ Configuration ‣ Settings ‣ Default Accounts and update your Outstanding Receipts Account and Outstanding Payments Account.

Bank and cash journals configuration

You can also set specific outstanding accounts for any journal with the type Bank or Cash.

From your Accounting Dashboard, click on the menu selection ⋮ of the journal you want to configure, and click on Configuration, then open the Incoming/Outgoing Payments tab. To display the outstanding accounts column, click on the toggle button and check the Outstanding Receipts/Payments accounts, then update the account.

Select the toggle button and click on outstanding Accounts

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