Configure the books

Before you start

Agree on the accounting start date and obtain the final balances from the previous system. Complete this configuration before importing opening amounts or day-to-day transactions.

Set the accounting boundary and defaults

1. Open Company settings → Accounting in the correct workspace.
2. Set the accounting start date to the date Libro should begin owning the books.

3. Review the company’s bookkeeping method, tax registration, fiscal year, currency, and deferral method.
4. Check every journal classification and confirm it exposes the intended accounts to the cash, sales, and purchase workflows.
5. Review ledger roles for cash, receivables, payables, sales, purchases, VAT, withholding, discounts, and current-period results.
6. Save the configuration, reopen the page, and confirm the selected accounts persisted.
7. Open each specialized journal and verify the expected cash or control account is available before importing balances.

Check your work

The accounting settings should show a completed start date and valid account for every required role. The Chart of accounts should contain each mapped account with the correct economic meaning.

Common mistakes

• Using the first transaction date instead of the agreed cutover boundary.
• Mapping a ledger role to a similarly named account with the wrong type.
• Expecting a later mapping change to reclassify historical entries automatically.

Continue with the chart of accounts and opening balances.