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Set up a new company end to end · presentation 2 of 8 · for the whole-system operator — you run the books Read the transcript · Back to the series

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Set up a new company end to end · presentation 2 of 8

The chart comes before the company

You can give GadgetSphere a chart of accounts that Create Company will accept…

Step 1 — Understand why the chart is first

You will stop trying to create the company first.

What you do
  1. Create Company has a required Chart of Account field…

Step 2 — Know what a new chart actually contains

You will never again be surprised by two hundred accounts you did not create.

  • Open the GL Code listing on a chart you made a minute ago and…
Screen capture pending the demo tenant

Chart of Account applet, GL Code listing, immediately after a chart is created — two hundred numeric codes nobody keyed

Step 3 — Choose: adopt the template codes, or set them aside

GadgetSphere has one decision recorded and no ambiguity.

Where this step sits
    flowchart TD
  s1["1. Understand why the chart is first"]
  s2["2. Know what a new chart actually…"]
  s3["3. Choose: adopt the template codes…"]
  s4["4. Never create a second chart to…"]
  s5["5. Leave the section codes alone"]
  s6["6. Link every category to a section…"]
  s7["7. Get the code right the first…"]
  s1 --> s2
  s2 --> s3
  s3 --> s4
  s4 --> s5
  s5 --> s6
  s6 --> s7
  classDef here fill:#1e40af,stroke:#1e40af,color:#ffffff,font-weight:bold;
  class s3 here;

Step 4 — Never create a second chart to start clean

You will have avoided the most expensive mistake in this lesson.

What this step names
  1. One chart per company is the shape to keep
  2. The cleanup tool for codes you regret is inactivation
  3. GL Code Merge where history has to move with them

Step 5 — Leave the section codes alone

Your profit and loss will actually close.

Where this step sits
    flowchart TD
  s1["1. Understand why the chart is first"]
  s2["2. Know what a new chart actually…"]
  s3["3. Choose: adopt the template codes…"]
  s4["4. Never create a second chart to…"]
  s5["5. Leave the section codes alone"]
  s6["6. Link every category to a section…"]
  s7["7. Get the code right the first…"]
  s1 --> s2
  s2 --> s3
  s3 --> s4
  s4 --> s5
  s5 --> s6
  s6 --> s7
  classDef here fill:#1e40af,stroke:#1e40af,color:#ffffff,font-weight:bold;
  class s5 here;

Step 6 — Link every category to a section before you go on

Nothing you have built can vanish from a statement.

Where this step sits
    flowchart TD
  s1["1. Understand why the chart is first"]
  s2["2. Know what a new chart actually…"]
  s3["3. Choose: adopt the template codes…"]
  s4["4. Never create a second chart to…"]
  s5["5. Leave the section codes alone"]
  s6["6. Link every category to a section…"]
  s7["7. Get the code right the first…"]
  s1 --> s2
  s2 --> s3
  s3 --> s4
  s4 --> s5
  s5 --> s6
  s6 --> s7
  classDef here fill:#1e40af,stroke:#1e40af,color:#ffffff,font-weight:bold;
  class s6 here;

Step 7 — Get the code right the first time, because it is permanent

You will check your import file before you upload it.

What this step names
  1. Re-importing is not the escape either…
  2. It updates that code's name
  3. Category
  4. Description in place

NarrationSlide 1 of 8

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