Before you import bank statement data into AccountsPrep, there are four steps to follow to set up your company exactly how you want it.
Set up your chart of accounts.
Set up your default accounts.
Set up your bank accounts.
Import your opening balance.
Step 1 - Chart of Accounts
Review the chart of accounts that you selected in your initial company setup.
To get your chat of accounts:
Click Accounting.
On the dropdown, click Chart of Accounts.
Add, delete, edit and re-classify the accounts as necessary according to any specific company requirements.
Step 2 - Default Accounts
Review and confirm the default accounts used by AccountsPrep for automatic system postings.
Click Settings.
Click System Settings.
Select the relevant accounts.
Click Save once complete.
Step 3 - Bank Accounts
You can review, add, delete and edit the bank accounts directly from the Chart of Accounts section.
Click Accounting.
On the dropdown, click Chart of Accounts.
Click the Bank tab.
📌TIP: You can also add and manage bank accounts from the Banks tab.
Step 4 - Opening Balances
The final step is to import your opening balances. You must do this before you can start importing and processing your bank statements.