Getting Started with Accounting

You can use the Getting Started option to help you get up and running with Accounting, from entering your customer and vendor information to customizing settings and preferences for your business. You can access this option from the Summary tab.

For a comprehensive overview, watch the video:

Introduction and Navigation (16:20)

If you have moved to Accounting from an earlier version or from Accounting Start, see information about upgrading.

When you first sign up to Accounting you have to enter some basic information about your company using the Quick Start Wizard. The business address you enter appears on invoices, credit notes, quotes, and statements you send to customers. If necessary, you can check or update your business details.

Get help

If you need help at any point, click help from the menu bar.

This takes you to our help centre where you can find useful articles to help with everything from getting started, to the day-to-day processing of your accounts. You can also get help on a specific window when you see the help button.

Enter your customer information

Create or import customers

If you regularly deal with the same customers, you can either manually create their records, or to save time you can import them using comma separated values (CSV) files.

Enter money customers owe you

Once you’ve set up your customers, you can record any outstanding transactions as opening balances. This ensures the reports you produce gives you a true picture of your financial position.

Review the Aged Debtors report

This report shows how much each of your customers owe you. Once you’ve entered your opening balances, you should check this report.

Enter your vendor information

Create or import vendors

If you regularly deal with the same vendors, you can either manually create their records, or to save time you can import them.

Enter money you owe vendors

Once you’ve set up your vendors, you can record any outstanding transactions as opening balances. This ensures the reports you produce gives you a true picture of your financial position.

Review the Aged Creditors report

This report shows how much you owe each of your vendors. Once you’ve entered your opening balances, you should check this report.

Check your chart of accounts

Review the standard chart of accounts

The chart of accounts is a list of all of the accounts used by your business. Use accounts to analyze your income, expenses, assets, liabilities and equity when running your management reports. Reporting helps you understand how your business is performing.

There is a default chart of accounts, based on the type of business you selected when you created your account, You can edit or create new general ledger accounts based on your needs.

Enter opening account balances

Whether you’re just starting your business or changing from another accounting system, you’re likely to have opening balances. You should produce your final trial balance from this system to use when entering opening balances. Or, if your accountant previously processed your accounts for you, they need to give you a full trial balance.

You must enter your accounts start date before you can enter your opening balances. This is the first day you intend to start recording transactions. For example, if you stopped using your previous system on September 30, enter October 1 for that date.

Review the Trial Balance report

Once you’ve entered all the values from your trial balance, you should check the values are correct. The trial balance report shows the balance for each of your general ledger accounts.

Other preferences and settings

You can further customize Accounting for your business using the following options.

Want to customize your invoice?

You can personalize your invoices and quotes you send your customers by choosing from a variety of templates and adding logos. You can also enter any terms and conditions you want to appear and enter your default invoice numbering and quote options.

Do you sell products, or services?

If you regularly sell the same products or services , create records to save time when entering invoices and credit notes.

Do you have departments, cost codes or projects?

Create analysis types to help you analyze your accounts in more detail.

Do you buy or sell in foreign currency?

If you deal with customers and vendors in other countries, enable foreign currency transactions to record invoices, credit notes, payments, and receipts in multiple currencies.

Do you work with colleagues?

If you have more than one person processing your accounts, you can invite multiple users to have access. You can also assign different roles for your users, from read only to full access.

Review default settings and preferences

To save you time when creating records and processing transactions, you can enter default settings and preferences.