Chart of Accounts
Review and create the required Accounts by going to Financials>Accounting>Chart of Accounts. Check also that new and existing Accounts are linked to the correct VAT type. Tip: You can delete Accounts that are not required and rename Accounts for a better overview.
Review and possibly create the required number series by going to Administration>Settings>Financials>Accounting>Transaction Series. Basically, the system contains 4 standard series, and there should be no need to create number series. Other modules (such as the Orders/Invoicing module) use these number series and may experience that to entries attempts to use the same transaction number. If so, you will be notified; this may only happen when several modules are used at the same time.
Review and create the Transaction types you require by going to: Administration>Settings>Financials>Accounting>Transaction types. Link the transaction type to the desired number series. You can also link Transaction type to a specific Debit account, so for example Purchase Invoice can default to account 5000 – Materials purchased goods.