---
title: "Accounting Setup Checklist | ERPNext Documentation"
description: "Use this ERPNext accounting setup checklist to verify company, accounts, banking, taxes, opening balances, controls, and go-live testing."
space: "ERPNext"
url: "https://docs.frappe.io/erpnext/accounting-setup-checklist"
updated: "2026-07-30"
---

Use this checklist before importing opening balances or posting live transactions.

## 1. Company and calendar

- Create the legal entity in [Company](https://docs.frappe.io/erpnext/company-setup).
- Confirm abbreviation, country, currency, tax ID, and address.
- Create and assign the [Fiscal Year](https://docs.frappe.io/erpnext/fiscal-year).

## 2. Chart of Accounts and defaults

- Review the [Chart of Accounts](https://docs.frappe.io/erpnext/chart-of-accounts).
- Confirm receivable, payable, cash, bank, income, expense, tax, stock, fixed-asset, write-off, exchange, and rounding accounts.
- Configure [Company accounting defaults](https://docs.frappe.io/erpnext/company-accounting-defaults).
- Create the required [Cost Centers](https://docs.frappe.io/erpnext/cost-center) and other Accounting Dimensions.

## 3. Payments and banking

- Create Bank and Bank Account records.
- Map a ledger account to every company bank account.
- Configure [Modes of Payment](https://docs.frappe.io/erpnext/bank-accounts-and-modes-of-payment).
- Test a receipt, payment, statement import, and reconciliation.

## 4. Sales, purchases, and taxes

- Create Payment Terms and templates.
- Configure sales and purchase tax templates.
- Add Tax Categories, Tax Rules, and Item Tax Templates where required.
- Confirm Customer, Supplier, Item, and Item Group defaults.

## 5. Accounting controls

- Review [Accounts Settings](https://docs.frappe.io/erpnext/accounts-settings).
- Configure roles, approval workflows, and submission permissions.
- Decide how periods will be locked and closed.
- Configure document naming and print formats.

## 6. Opening data

- Choose a cutover date.
- Import parties, Items, fixed assets, and outstanding invoices.
- Import opening ledger balances through approved opening tools.
- Reconcile receivables, payables, bank, stock, fixed assets, tax balances, and equity with the previous system.

## 7. Test before go-live

Run one complete sales, purchase, payment, expense, asset, and return scenario. Verify:

- General Ledger debit and credit;
- Accounts Receivable and Payable;
- Trial Balance;
- Balance Sheet and Profit and Loss Statement;
- Stock Ledger and Stock Balance, if perpetual inventory is enabled;
- tax reports;
- bank reconciliation;
- printed and emailed documents.

Record who approved the opening balances and test results.

## Related topics

- [Opening Balance](https://docs.frappe.io/erpnext/opening-balance)
- [Opening Invoice Creation Tool](https://docs.frappe.io/erpnext/opening-invoice-creation-tool)
- [Data Import](https://docs.frappe.io/erpnext/data-import)
- [Accounting Period](https://docs.frappe.io/erpnext/accounting-period)