A Party is someone with whom you'll be doing transactions with. A Party can be a Customer or a Supplier. The Default Account is where the transactions will be booked. Although an
option for default account is provided, you can use different accounts for different transactions.
Creating a new Party:
Step 1: Click on the Party option from the sidebar in order to get the list view.
Step 2: Click on the new Button, you will get a blank form.
Step 3: Fill in the details and click on save, a new Party will be created and the name of the party will appear in the list view.
Step 4: You can also view all the invoices involving a particular party by clicking on the Actions drop-down and clicking on Invoices.