Getting started with Accounting
You can use the Getting Started option to help you get up and running, from entering your customer and supplier information to customising settings and preferences for your business. You can access this option from the Summary tab.
When you first sign up you have to enter some basic information about your company using the quick start guide. The business address you enter appears on invoices, credit notes, quotes and statements you send to your customers. If necessary, you can check or update your business details.
If you need help at any point, simply 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 .
Create or import customers
Enter money customers owe to you
Once you’ve set up your customers, you can record any outstanding transactions as opening balances. This ensures the reports you produce actually provide 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.
Create or import suppliers
Enter money you owe to suppliers
Once you’ve set up your suppliers, you can record any outstanding transactions as opening balances. This ensures the reports you produce actually provide a true picture of your financial position.
Review the Aged Creditors report
This report shows how much you owe each of your suppliers. Once you’ve entered your opening balances, you should check this report.
Review the standard chart of accounts
The chart of accounts is a list of all of the accounts used by your business. These accounts are known as nominal ledger accounts. You can use it to analyse your income, expenditure, assets, liabilities and capital when running your management reports. This helps you to see how your business is performing at any moment in time.
There is a default chart of accounts, based on the type of business you selected when you created your account, You can amend or create new nominal 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.
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 on each of your nominal ledger accounts.
Further customisation is possible. Here we explore some of the options available to you.
Want to customise your invoice?
You can personalise 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?
Do you have departments, cost codes or projects?
You can create analysis types to help you analyse your accounts in more detail.
Do you buy or sell in foreign currency?
If you trade with companies based overseas, you can process foreign currency transactions. You can easily record invoices, credit notes, payments and receipts in different currencies.
Do you work with colleagues?
Review default settings and preferences
To save you time when creating records and processing transactions, you can enter default settings and preferences.