Begin setting up your business records

For the first time of entering accounts and tax module for a business, we have set-up wizard that helps you get started, containing three basic tabs-

Tab 1. Business default settings

1. Choose the size of business (Small or Micro) from the dropdown list provided.

2. Based upon the trading status of the business, choose trading or dormant from the dropdown.

3. Click 'Next' to continue.

   

   Business default settings

Tab 2. Accounting periods

1. The accounting period which is currently due on the Companies House records along with the comparatives, if applicable will be automatically retrieved here. To manually add another accounting period, click '+Add' to create a new one.

2. Click 'Next' to proceed.

   

   Accounting periods

Tab 3. Business contacts

1. The software will automatically retrieve the officers from the Companies House records. To add an additional officer, click '+Officer', fill in the required details. If you want to have separate account heads for different directors, mark the checkbox – 'Create directors’ accounts'. Click 'Save' to proceed further.

   

   Business contacts
2. Click 'Finish' to proceed with the preparation of the trial balance.

   

   Finalising the business setup process

You can read this article for the process of creation of trial balance.

All these steps are just for initial setup of the business, you can change any of the above details later based on your requirements.

Hope this is helpful.

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Business set up

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