The software is set up to operate on a monthly accounting period using the calendar year. If your company has a different fiscal year, when you enter that information the software will automatically format the 12 months based on that fiscal year.

Your next task is to set up the chart of accounts. The software has numerous charts of accounts to choose from based on different business types. Select the one closest to your needs and then customize it specifically based on the chart of accounts you have designed.

After you finish the chart of accounts, you’ll be asked for your bank information. Your main bank account will be used for the Cash in Checking (1000) account. If you have other accounts, you can enter them in the system, but you are not required to do so.

If you screw up royally, you can go back to the first screen, delete the company, and start over. Things don’t have to be perfect, though. Most of what you enter can be changed later. The key exception is accounting periods.

You are now ready to start entering data. If you want to have a budgeting function, you need to enter your budget information first before entering other data. Next set up your vendor and customer accounts, so your data has a place to go in addition to the chart of accounts, which is used to fill the general ledger. Your customer and vendor data should be in place before you start adding transactions.

You can add customers and vendors at any time in the future, so don’t worry about being sure you haven’t missed someone. You also need to set up any sub-ledgers you want to use, such as cash disbursements and cash receipts journals.

If you have employees, you’ll need to add their information as well and set up the payroll ledger. The program allows you to set up an employee ledger for each employee.

If everything looks accurate, it’s time to add your numbers.