What it does
A guided onboarding wizard for a new business: an industry-appropriate initial chart of accounts and opening balances, so the books start correct from day one.
Print Ledgers
Business Setup
Guided onboarding for chart of accounts and opening balances.
Why it matters
Starting real bookkeeping mid-stream without proper opening balances means every statement afterward is wrong until it's fixed — this wizard exists so that never has to happen.
How to use it
- Open Business Setup — new businesses land here automatically right after creation.
- Pick the industry so the chart of accounts and expense categories match how your business actually spends.
- Enter opening balances for existing assets, liabilities, and equity.
- Apply setup once balances tie out.
Main buttons and actions
- Apply Setup
- View Chart of Accounts
- Back to Business
Example workflow
- Run once, when a business is first created.
- Cash/accrual basis and fiscal year are set separately in Business Settings.
- After setup, every day-to-day transaction posts automatically — no more manual journal entries needed for routine activity.