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3. Review the chart of accounts

A chart of accounts is a basis for accounting in the system. The system provides you with a default chart of accounts; however, you can edit the chart by adding the accounts that you need and removing the accounts that you don't need. Check the default GL accounts assigned to different objects of accounting. It should be done before you start recording the company transactions in the system.

Where: Accounting > See also > General Chart of Accounts
How: 7.1.1. Adjusting the Chart of Accounts

4. Add the companies

Add the companies, that are your suppliers and add the companies that are your customers. Enter the company addresses, bank accounts, and contact information. For each company, specify the VAT-related information.

Where: Sales > Master Data > Companies or Purchasing > Master Data > Companies

How2.15.1. Adding a Company

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Where: Accounting > Master Data > Expense Items
How: 2.4.1. Adding an Expense Item

Where:  Cash Management > Money > Master Data > Cash Flow Items
How:
6.1.1.1. Adding a Cash Flow Item

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Where: Accounting > See also > Opening Balances
How:  7.63. Opening Balances Entering

The system is ready for operation.

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