Before importing bank statement data, there are just three steps to follow to ensure your AccountsPrep company is set up exactly how you want it. This article will provide a brief overview of each!

Applies To

  • New AccountsPrep users.


Step 1: Chart of Accounts

Firstly, review the Chart of Accounts selected at initial company setup - add, delete, edit and re-classify accounts as necessary according to any specific company requirements.

Step 2: Default Accounts

Next, review and confirm the default accounts used by AccountsPrep for automatic system postings e.g.

  1. Year-end roll-forward of P&L into Retained Earnings, and

  2. Sales and Purchase Tax accounts.

Step 3: Bank Accounts

Lastly, review the bank accounts that came with the Chart of Accounts - add, delete and rename as required.

All set up and ready to go to the bank!

With these three steps completed, you'll be ready to start importing and fast-coding your bank statements!

Additional Information

  • To continue on and import opening balances, see the step-by-step guide here.

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