Once the chart of accounts is in place, the finance setup itself has to be configured. These are the rules that control how Sapera posts automatically, so you do not have to decide on every single posting manually.
VAT — VAT rates and how VAT is calculated and reported.
Posting rules — how sales, purchases and payments automatically hit the correct accounts.
Opening balance — your starting balances, if you are coming from another system, so the accounts start with the right figures.
If you post before the rules are set, you risk postings on the wrong accounts or the wrong VAT — and that then has to be corrected. Get it right from the start, and most of it runs automatically and correctly.
Finance setup and the opening balance are among the most important choices for correct accounts. Feel free to do them together with your consultant or accountant.
Read more in Accounting.
