Accounting Setup

Accounting setup happens once, mostly with support alongside, and everything after inherits it. This is the checklist, in dependency order:

1. Chart of Accounts — the account tree everything posts into. A working chart is created for you; review it before customizing.
2. Financial Year — the reporting year, and the guard that keeps closed years closed.
3. Banks & Payment Methods — every real-world account money lands in, wired to the tenders the POS offers.
4. Taxes — the rates the POS applies and the liability account they collect into.
5. Cost Centres — optional tagging for "what kind of spend", if your reporting wants it.
6. Opening Balances — bringing an existing business's balances in, so day one continues history instead of restarting it.

The related settings that live elsewhere: costing method, approval chains and audit email are in Core Settings → Accounting Settings; the advanced ledger features have their own section.

The single most common setup mistake is customizing the chart of accounts heavily before understanding what posts automatically. Run two real weeks on the default chart first — the automatic postings will show you which distinctions you actually need.