Assigning Financial accounts to Financial Types

[SPM]

I am in the process of configuring a new installation of Civi and have created a new financial type and a new financial account and tried to assign them. However when I create a create a new contribution for my test record it still says that the new contribution is being received into the "deposit account" and not the new "current account" I created. The deposit account is the default account. Disabling the "deposit account" does not make a dfference 

How can I overcome this problem?