01. How to Setup and Configure New Account

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Overview

Click on Setup (or Enterprise Setup) menu, you can see a list of items to set up. The items can vary depending on the edition of Versa Cloud ERP you have subscribed to.

Here are the most important items to set up for a new account

User Management

You would manage your user list in this area. Users can be assigned permission to access different areas of the application.

Company Information

Here you enter your company address, phone number, and other information.

Fiscal Periods

You can specify your accounting periods here. Accounting periods can be closed or open. Once an accounting period is closed, any attempt to post to it would fail. Versa Cloud ERP periods normally follow the 12-month calendar but it can be set up to use bi-weekly periods.

Taxes

You can define the individual taxes you collect in different regions. If you activated the tax code feature, multiple taxes can be included in tax code.

Tax Codes

If this is activated (from Setup, Entity Settings, Taxes), you define the different combinations of taxes you collect or paid in different jurisdictions. 

Custom Fields

You can add custom fields to many data types in Versa Cloud ERP.  Use a custom field to store additional attributes about your customers, suppliers, products, orders, invoices, etc. Custom fields can be made to appear in documents such as invoices, orders, packing lists, pick list, etc.

Custom Forms

Custom forms refer to documents you exchange with other parties. They include sales invoices, sales order, purchase orders, packing list, warehouse copy, pick list, sales quote, account statement, RMA order, EDI documents. See more details about forms here

Payment Terms

You can define the payment terms (on invoices, bills, orders, quotes etc) you have with your customers or suppliers.  Payment terms can include details like due days, discount %, discounting period, installment requirement (for purchasing terms).

Adjustments

Define the price adjustments like different levels of discounts here. If you also have surcharges, they can be set up here as well.

Company Logo

You can upload your logo here.

Sales Channels

This is used in reports. You can define different sales channels and put sales transactions into different channels for reporting later.

Check/Cheque formats

Setup the pre-printed check format for different checking accounts you have. We support a list of standard stocks and you can customize the format if you have a custom format.

Entity Settings

There are a lot of settings to configure various areas of the application. Settings are grouped by functional areas like Bills, Invoices, Quotes. Hover over the little I icon to get an explanation of each setting.

Check/Cheque Numbers

You can adjust your next check number here for various accounts.