MONEY & ACCOUNTING
Set up bookkeeping and use Accounting
Turn on your books in one step. From then on, invoices, payments, expenses and bills post to your books automatically, with a profit & loss, balance sheet and bank matching.
Steps
Open Accounting and choose Set up accounting.
Pick your Accounting start / cutover date, the first day your books should cover (January 1 is common). It can be in the past.
If you know them, enter your Opening operating bank balance and Opening cash on hand on that day. Not sure? Leave them at $0 and add them later with Transfer / journal.
Leave Add the invoices, payments and money in & out I’ve already recorded since this date ticked so your past work is included.
Tick the confirmation and choose Activate connected accounting.
What’s in Accounting
- Overview and Profit & balance sheet: sales, expenses, profit, what you own and owe, for any period.
- Money you’re owed: unpaid invoices, with sales credits if you need them.
- Bills you owe: record a vendor bill when you owe it, and its payment when you pay. Use Record unpaid vendor bill.
- Accounts and Journal: your chart of accounts, trial balance and every entry. Use Transfer / journal for owner contributions, loans and corrections.
- Match bank statement: tick the entries that cleared on your statement until the difference is zero, then finish.
- Lock a period: close finished months so nothing in them changes by accident.
On the Free plan
Free tracks money in and out, invoices and quotes. Full bookkeeping comes with Starter, Pro and Business. Everything you’ve already recorded can be added to your books when you start. If you move back to Free later, your books become read-only; nothing is deleted.