Accounting, Ledger, Payment Methods, Time Periods, Taxation Entities, Initial Values
opentaps Financials is an extremely flexible and configurable application. Using just some changes to configuration settings available on the User screens, you can support many different accounting processes.
* You can modify the default chart of accounts for your business needs. * You can modify the general ledger account used for any type of transaction activity. * You can select payment methods to use in your business (but setting up new ones requires a specialist). * You can create accounting time periods that you may need, and you can close your accounting records for specified time periods.
This manual includes a section for step by step configuration of these items.
Usually, you will not need to configure your organization's general ledger and accounting from scratch. If you decide that additional configuration changes are required, then you must really understand accounting best practices, how the system works, and how best to configure it. This requires both accounting specialist skills, and technical system administration skills. We have provided special sections of this manual for those who require more information for advanced configuration.
Manual pages >> Configuration Buttons for User-Administrators
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