Lesson 34 of 64
Stock, finance & operations
Set up accounts, taxes, mappings and opening balances
Prepare accounting settings before operational entries begin posting to the ledger.
Before you begin
Have an approved account structure and starting balances, with accounting administration access.
Step by step
- Open Accounting Settings and review setup health and any reported posting issues.
- Review the chart of accounts and money accounts. Check each account's purpose before adding or changing it.
- Review available journals, tax codes and mapping rules with your accounts reviewer. A tax code is a configuration, not proof of legal compliance.
- Enter supported starting balances once using the agreed opening date and correct account sides.
- Review Trial Balance and a sample operational journal before beginning normal work. Resolve setup warnings at their source.
Check the result
Opening entries must agree with starting records, and operational postings must use the intended accounts.
Common question
Should I create extra accounts to clear a posting error?
Inspect the reported issue and mapping first. Resolve the configuration or source record with an authorised reviewer.