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Source truth: - Company Identity and Context Contract - Accounts - Financial Periods - Money and Rounding - Posting and Reversal

Company Setup

This page explains how to create and configure a company in BooksPlus.

  • Complete Getting Organized before deeper setup.
  • Define company details.
  • Treat the company as the owner of its chart of accounts, fiscal setup, accounting records, permissions, reports, and backups.
  • Create or import the chart of accounts.
  • Verify reporting currency and period boundaries.
  • Keep setup records current and retire records only when needed.

Setup readiness

Before posting material activity, confirm that the business has:

  • assigned accounting responsibilities;
  • defined approval and review expectations;
  • defined source-document capture, storage, linking, retention, and backup;
  • accepted or overridden policy defaults;
  • created financial periods needed for posting and reporting.

Opening balances

Opening balances should be explicit and reviewable.

  • Use support such as an approved balance sheet, reconciled bank statement, supplier statement, loan statement, prior-system report, or migration working paper.
  • Enter opening balances through journal entries rather than hidden balance edits.
  • Group related opening entries when that helps review.
  • Confirm the cutover period is open before posting.
  • Correct posted opening balances by reversal or adjustment, not silent mutation.