Create Initial Entries

Add some initial entries before you record transactions.

Add Bank Accounts

The setup wizard makes one bank account. Add your other bank accounts in the Chart of Accounts.

1. Click Setup > Chart of Accounts in the sidebar.
2. Open Application of Funds (Assets) > Current Assets.
3. Move the pointer over Bank Accounts and click the … button.
4. Click Add account.
5. Enter the name of the bank account and click Save.

You can now use this account for payments.

Add Taxes

If your company charges sales tax or pays purchase tax, add a tax template for each tax rate.

1. Click Setup > Tax Templates in the sidebar.
2. Click New.
3. Enter a Name that shows the tax and its rate, such as GST 18%.
4. In Details, add a row for each tax account:
   • Tax Invoice Account: The account that gets the tax when you submit an invoice.
   • Tax Payment Account: Optional. When a payment is made for the invoice, the tax moves to this account.
   • Rate: The tax rate in percent.
5. Click Save.

A template can have more than one row. Use this for taxes that you always charge together. For more information, see Taxes.

Add Sales Items

Add the products and services that you sell.

1. Click Sales > Sales Items in the sidebar.
2. Click New.
3. Enter the Item Name and the Rate.
4. Set Type to Product or Service.
5. In Tax, select a tax template. Frappe Books adds this tax when you add the item to an invoice.
6. Click Save.

You can also set an image, the unit, and the accounts of the item. Sales Acc. is the income account, and Purchase Acc. is the expense account. For more information, see Items.

Add Customers

Add your customers so that you can select them in sales invoices.

1. Click Sales > Customers in the sidebar.
2. Click New.
3. Enter the Name of the customer.
4. Click Save.

You can also add the Email, the Phone, and the Address of the customer. The address shows on printed sales invoices. For more information, see Party.

Next Steps

If you move from a different accounting system, set up your opening balances.