new starter

[hendry]

Hi, everyone,
I am a new user and have one starter question.

do i really need an accounting professional to help me setup the software, at least for the financial statement? I saw a demo of the setting process and there are a lot of items, categories need to be defined so you can start using them. I wonder if there is a resource I can use to set up myself. like a code book.
thanks.

[Marka]

hendry - there is no law that states that a CPA must set your books up for you. The only thing is that most CPA or firms prefer that you set your books up to match their books so it matches THEIR chart of accounts by item which makes their life easier when they do your books/financial P/L's etc. This way they do not have to take each item and cross reference to something on their chart of accounts that would be closest to it.

One thing to remember though, while setting up the chart of accounts is really up to your preferences once you set them up and start posting sales/purchases etc you can not change the chart of accounts. Yes, I would think you can research basic accounting setups to best suit your business type but sometimes it is better to get the advise of an accountant so you know you are storing the information in detail format that most accounts will need in order to prepare any type of financials for you.

Many software consultants that install new software for companies make it clear to the clients that the chart of accounts is one of the most important things to do first. everything else is built around that.

Mark