What accounts for Default Third Party Accounts

Using my Dolibarr
1

Dolibarr version 10.0.0
Advanced Accounting = ON.

If I go to this page
Accounting \ Setup \ Default Accounts
I have these options …

Accounting account used for customer third parties
Accounting account used for vendor third parties
Accounting account used for user third parties

These are wanting some sort of accounts in the chart of accounts. I am not sure where or what accounts to give them. I am using these branches for a chart of accounts structure.

o 100000 ASSETS
o 200000 LIABILITIES
o 300000 OWNERS EQUITY AND NET WORTH
o 400000 SALES
o 500000 COST OF GOODS SOLD
o 600000 EXPENSE
o 700000 OTHER INCOME
o 800000 OTHER EXPENSES

Here,
Setup \ Modules and Applications \ Third Parties \

I have these settings …

Options for automatic generation of customer/vendor codes
Customer CU0901-00001
Supplier SU0901-00001

Options for automatic generation of customer/vendor accounting codes
Customer 411CUSTCODE (this uses 411+CustomerCode)
Supplier 401SUPPCODE (this uses 401+SupplierCodes)

Again, I’m not sure where or what accounts to assign to the Default Customer or Default Vendor accounting accounts. Should I just create generic accounts in Accounts Receivables (400000 Sales) and Accounts Payables (600000 Expenses) ? How will that affect reporting?

My question is which branch should I create these accounts? AP, AR, or somewhere else?

2

100000 ASSETS
200000 LIABILITIES
300000 OWNERS EQUITY AND NET WORTH
400000 SALES | (Equivalent to Sub account Group will be Income)
500000 COST OF GOODS SOLD | (Equivalent to Sub account Group will be Expense)
600000 EXPENSE | (Equivalent to Sub account Group will be Expense)
700000 OTHER INCOME | (Equivalent to Sub account Group will be Income)
800000 OTHER EXPENSES | (Equivalent to Sub account Group will be Expense)

You must notice that one in order for you to Generate an Accounting Report, Otherwise call me