AccountsPrep - Quick Steps for First-Time Setup

The THREE STEPS to set up your AccountsPrep company exactly how you want it.

Brian Carolan avatar
Written by Brian Carolan
Updated over a week ago


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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