Set your default account in Company Preferences, not in individual transactions
QuickBooks Desktop stores your default bank account in the Company Preferences section, under the Checking account settings. When you open a new transaction window—a check, a deposit, or a bank transfer—QuickBooks will pre-fill the account field with whichever account you have marked as default. This saves you from selecting the same account over and over if most of your transactions run through one bank.
The default account is a convenience setting only. You can override it on any single transaction by clicking the account dropdown and choosing a different bank. Changing the default does not move money or alter past transactions; it only changes what appears first when you create something new.
Key Takeaways
- The default bank account setting lives in Company Preferences under the Checking tab, not in the chart of accounts.
- QuickBooks will pre-fill this account on new checks, deposits, and transfers, but you can change it for any individual transaction.
- If you have multiple bank accounts, you can change the default at any time without affecting existing records.
- The default account must already exist in your chart of accounts before you can set it as the default.
Where to find the Company Preferences menu
Open QuickBooks Desktop and go to the Edit menu at the top left. Click Preferences. A window will open with a list of preference categories on the left side. Scroll down until you see Checking and click it.
You will see two tabs at the top of the right panel: My Preferences and Company Preferences. Click the Company Preferences tab. This is where the default account setting lives. Only a user with admin rights can change Company Preferences; if you cannot see this tab, ask your account administrator to make the change.
Select your default account from the dropdown
In the Company Preferences tab under Checking, you will see a field labeled Default Checking Account. Click the dropdown arrow next to it. A list of all your bank and checking accounts will appear—only accounts marked as type "Bank" or "Checking" show up here, not credit cards or other account types.
Click the account you want to use as your default. If you only have one bank account, it will already be selected. If you have multiple accounts and none is currently selected, the field may appear blank. Choose the account where most of your transactions occur, or the one you use for payroll and regular bills.
Click OK at the bottom of the Preferences window to save your choice. The change takes effect immediately.
What happens if your default account does not appear in the dropdown
If the account you want to set as default is not showing in the dropdown list, it may be marked as inactive or set to a different account type. Go to your Chart of Accounts (Lists menu > Chart of Accounts) and find the account. Right-click it and select Edit Account. Check that the account type is set to Bank or Checking, not Savings or Money Market.
If the account is inactive, you will see an "X" next to its name in the chart of accounts. Right-click the account, select Make Account Active, and then return to Company Preferences to set it as default. Once the account is active and the type is correct, it will appear in the dropdown.
Changing your default account later
You can change your default account at any time by returning to Edit > Preferences > Checking > Company Preferences and selecting a different account from the dropdown. This does not affect any transactions you have already recorded; it only changes what QuickBooks suggests for new transactions going forward.
If you have set up multiple users in QuickBooks, changing the Company Preferences default affects all users. If you want a different default account to appear only for your own transactions, you can set a personal default in the My Preferences tab instead. Your personal preference will override the company default when you are logged in.
How the default account appears in transaction windows
Once you have set a default, open a new check or deposit window (File > New > Check, or use the keyboard shortcut Ctrl+W for a check). The account field will show your default account name. If you need to use a different account for that transaction, click the dropdown and choose another one. The transaction will record to whichever account you select, not the default.
The default account also appears in the bank transfer window (Banking > Transfer Funds). If you are moving money between two accounts, the "Transfer from" field will show your default account, but you can change it. The default does not lock you into using that account; it is only a starting point to save you a click.
Frequently Asked Questions
Can I have a different default account for different types of transactions?
No. QuickBooks Desktop allows only one company-wide default account. However, you can set a personal default in My Preferences that overrides the company default when you are logged in. If you need different defaults for different users, have each user set their own personal preference.
What if I accidentally set the wrong account as default?
Go back to Edit > Preferences > Checking > Company Preferences and select the correct account from the dropdown. Click OK. All future transactions will use the new default. Past transactions are not affected and will stay recorded to the accounts you originally chose.
Does changing the default account move money between my banks?
No. The default account setting only controls what appears in the account field when you create a new transaction. It does not move, transfer, or reconcile any money. Your bank balances remain exactly as they are.
Can I set a credit card as my default account?
No. The default account dropdown only shows accounts marked as type Bank or Checking. Credit card accounts do not appear in this list. If you need to record credit card transactions frequently, you can still select your credit card account manually each time—it will be in the account dropdown even if it is not the default.