Steps

  1. Set up organisation details
  2. Set up bank accounts
  3. Import bank statement
  4. Explain bank transactions

Guide Information

  • Difficulty: Beginner
  • Estimated Completion Time: 10 minutes

 

Organisation name

Enter the name of your company, business, charity, society or club.

Type

Select the type of organisation you are setting up Clear Books for.

Accounts year end

Enter the date of your current financial accounting year end.

If your organisation has been running for a number of years and you are intending to load on or import historic transactions, then use the date of the first financial year to be imported into Clear Books.

VAT scheme

Select the VAT scheme your organisation uses.

Organisations that have revenue below the VAT registration threshold and therefore outside the scope of VAT  should select exempt from VAT.

Clear Books supports the following VAT schemes: standard rate, flat rate, not VAT registered or custom GST schemes.

Primary bank type

Select the type of account that your organisation uses most frequently for payments.

Typically a bank account should be selected.

In some cases your organisation may receive and make payments through an online payments system such as Paypal or Worldpay. If so, select Internet payment account.

If your organisation is a start-up and as yet has no bank account then it is likely that any payments you receive or make will be in cash. In this case select petty cash account.

Primary bank name

Enter the name of your primary bank account, this will become your default bank account so please choose it carefully.

Getting Started Wizard

Once you have registered your organisation you can scroll down to the “Getting Started” wizard popover to quickly start up your company.

What all the Fields Mean

Update organisation settings

Make sure your organisation details are up to date. Company information is used on sales invoices so is important for professional looking customer invoices.

Add a customer

Here you can add a customer which will appear in the drop down memu of customers when you create a Sales Invoice.

Add a supplier

Here you can add suppliers which will appear in the drop down menu of suppliers when you create a New Bill.

Set opening bank accounts

The accounts system needs to know all your bank accounts, credit cards and internet payment accounts such as Paypal. 

Bank statements can be imported from a file (after you have downloaded a statement from your online bank account). Importing a bank statement saves an immense amount of time as no data entry is required.

You can navigate to the bank import tool by “Money > Import Tool”.