What you can do here
- Configure the chart of accounts and opening balances.
- Map sales, expenses, and banking categories.
- Prepare reconciliation rules and defaults.
Before you start
- Core Accounting access is required.
- Gather your existing chart of accounts.
- Confirm your fiscal period and reporting currency.
Step-by-step
- Open Core Accounting and review the setup checklist.
- Create or import chart of accounts.
- Set opening balances for key accounts.
- Map sales and expense categories for consistent reporting.
Scenario example
A growing agency imports its chart of accounts, sets opening balances for cash and receivables, and maps service revenue so every new invoice posts to the correct General Ledger account.
Tips & Common mistakes
- Keep account names consistent with your financial policy.
- Use account codes to simplify reporting.
- Review mappings before posting live transactions.
FAQ
Do I need all accounts before starting?
Create essential accounts first and expand as needed.
Can I update mappings later?
Yes, but review the impact on reports before changing.
Where do I add opening balances?
Use the opening balance section in Core Accounting setup.
Next steps
