Common Receivable Account

Common Receivable Account

A common receivable account called Debtor is automatically generated in accordance with the party model. For all customers, this is the default Receivable Account.

You can also add a new receivable account and make updates in the Customer master if necessary.

Should I set up distinct Receivable Account Accounts for every Customer?

Response: You can, but it's not a good idea. For the purpose of tracking receivables, it is not necessary to create separate Receivable Accounts for each customer. You continue to check the General Ledger and Accounts Receivable reports for each customer.

Similar to Debtors, a default account called Creditors is created under Account Payables to track payables.