What default information can you set for a supplier in Xero?

The correct choice highlights essential information that can be configured as default for each supplier in Xero. The ability to set the tax setting, account, and tax rate is crucial for managing how purchases from those suppliers are recorded and how transactions are processed in relation to tax obligations.

Setting the tax setting ensures that the appropriate tax rules are applied to transactions involving the supplier, which is vital for compliance with tax regulations. The account configuration allows the business to determine which general ledger account purchases from that supplier will be recorded against, providing clarity for financial reporting and accounting. The tax rate assigned ensures that the correct rate is applied automatically during invoice processing, reducing errors and streamlining the reconciliation process.

Other potential options such as payment method, contact details, and invoices, or bank details, payment terms, and tax rates, while important, do not encompass the specifically set defaults that directly affect transaction processing and tax management in the same way that the correct choice does. Understanding this allows users to effectively streamline their accounting practices within Xero.