HI there!
You’ve opened the FirstBIT ERP accounting system. Below you can see the list of basic settings, which you need to adjust for correct work
You can find detailed instructions in the manual. You can go to the manual sections that you might need at this stage by hyperlinks from the text.
1. Fill in the general information about your company
That is, a name, address and other data of the legal entity, on behalf of which the accounting will be done in the system. There can be few legal entities in the system.
Where: Accounting > Catalogs > Entities
How: 2.1. Filling Entities Catalog
2. Enter your bank accounts data
Where: Money > See also > Bank Accounts
How: 2.5. Filling Bank Accounts Catalog
3. Specify the business activities, departments and warehouses (optional)
You can use accounting by business activities, departments and warehouses in the system. To see financial results by each business activity, profit and loss by departments and each warehouse balances, add these business activities, departments and warehouses. E. g. you will be able to estimate the profitability of both the "Equipment Distribution" and "Service" business activities.
Where: Accounting > Catalogs > Business Activities
How: 2.2. Filling Business Activities Catalog
Where: Accounting > Catalogs > Departments
How: 2.3. Filling Departments Catalog
Where: Warehouse > Catalogs > Warehouses
How: 2.10. Filling Warehouses Catalog
4. Adjust the accounting settings
Determine which functions will be available for each section and based on which rules the application will perform transactions. These settings are applied to all companies accounted in the system.
Where: Administration > Settings
How: 1.3. Settings for the Sections Options
5. Fill in the units of measurement (optional)
Check, whether it’s necessary to change the units of measurement.
Where: Purchasing > See also > UOM Classifier
How: 2.11. UOM Classifier
6. Specify the expense, income and cash flow items (optional)
By default, there are items of all three kinds in the application, but if they do not suit you or you want some more, you can change them before the accounting starts.
Where: Accounting > Catalogs > Expense Items
How: 2.8. Filling Expense Items Catalog
Where: Accounting > Catalogs > Income Items
How: 2.9. Filling Income Items Catalog
Where: Money > Catalogs > Cash Flow Items
How: 2.7. Filling Cash Flow Items Catalog
7. Add the companies, items and employees
Add the companies, suppliers and others whom your company contacts in the "Companies" catalog. Add goods, inventory and services which your company sells and purchases in the "Items" catalog. Add your company’s employees in the "Employees" catalog.
Where: Sales > Catalogs > Companies, or Purchasing > Catalogs > Companies
How: 2.15. Filling Companies Catalog
Where: Sales > Catalogs > Items, or Purchasing > Catalogs > Items
How: 2.20. Filling Items Catalog
Where: Accounting > Catalogs > Employees, or HR & Payroll > Catalogs > Employees
How: 2.22. Filling Employees Catalog
8. Check your chart of accounts
A chart of accounts is a basis for accounting in the system. By default, it is filled in with the recommended accounts, but you can change them, if necessary. It should be done before the accounting starts.
Where: Accounting > See also > General Chart of Accounts
How: 7.1. Filling the "General Chart of Accounts"
9. Specify the fixed assets and opening balances
To start accounting from the current momentWelcome to FirstBIT ERP!
Now, you need to enter the data required for its operation. Use the hyperlinks to refer to the User Guide's specific topics for more information.
1. Turn on the features you need and specify the options
Decide which functionality you need. Some of the features (Production or Payroll) are not available until you turn them on. The settings are system-wide, that is, if your company consists of multiple entities, the settings will be applicable to all the entities. It is not recommended that you turn on the features that will not be used—there will be additional required fields, which the users will have to fill in.
Select the accounting currency and the currency for reporting the taxes (national currency). Initially, the following three currencies are available in the system: Dirham UAE, US Dollar, and Euro. If your company has transactions in other currencies, add these currencies.
Where: Administration > Settings
How: 1.2. Configuration Settings
2. Enter general information about your company
At this moment, there is a single default company in the program database—"OUR Company". Replace this default name with the name of your company. Type a name, legal address and specify the default cash and bank accounts which can be created on the fly. If the company includes multiple legal entities, you can add them, however, the first entity will be used as the default entity for operations.
Where: Accounting > Master Data > Entities
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 > 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
5. Specify the business activities
If your company is selling miscellaneous goods and providing services, you may need to be able to evaluate the profitability of each of the business activities. By default, there are the following business activities on the list: Main Activity and Other. You can edit the default activities and add any new ones.
Where: Accounting > Master Data > Business Activities
How: 2.2.1. Adding a Business Activity
6. Add the departments and employees
There are two departments in the database at this stage: Main and Other. Rename them if needed and add other departments. Add your company's employees, for each specify the entity and department.
Where: Accounting > Master Data > Departments or HR & Payroll > Master Data > Departments
How: 2.3.1. Adding a Department
Where: Accounting > Master Data > Employees or HR & Payroll > Master Data > Employees
How: 2.8.1. Adding an Employee
7. Add the warehouses
If your company has multiple warehouses, in addition to the default (Main) warehouse, create other warehouses.
Where: Warehouses > Master Data > Warehouses
How: 2.10.1. Adding a Warehouse
8. Add UOMs and items
If you need to use specific UOMs for specific items, add appropriate UOMs to the system. Then, add the master records for inventory items that your company sells and purchases and specify the default UOMs for the items. Specify a warehouse where each item will be stocked and the default supplier company. Add the services.
Where: Purchasing > See also > UOMs
How: 2.11. UOMs
Where: Sales > Master Data > Items or Purchasing > Master Data > Items
How: 2.19.1 Adding an Item
9. Specify the expense, income, and cash flow items (optional)
There are just a few default expense, income, and cash flow items in the system database. These items can be used for income and expense analytics and for cash flow analysis. Edit the available items and add any new items if needed.
Where: Accounting > Master Data > Expense Items
How: 2.4.1. Adding an Expense Item
Where: Money > Master Data > Cash Flow Items
How:6.1.1.1. Adding a Cash Flow Item
Where: Accounting > Master Data > Income Items
How: 2.9.1. Adding an Income Item
10. Enter the opening balances
To start accounting from a specific month (accounting period), you need to enter into the system information about your company's assets and liabilities your company owns at that momentavailable just before the start of this month.
Where: Accounting > See also > Opening Balances Entering
How: 7.43. Opening Balances Entering
The system is ready for
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operation.
Enjoy your
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work!
If you still have questions
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, contact us
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