Accounting

Set up chart of accounts, tax components, and sales channels

Build the accounting base first so sales, payouts, tax, and receivables can post to the right places.

5 min read · Updated Mar 18, 2026 · Managers and bookkeepers setting up accounting

Start here before you rely on accounting exports, tax tracking, or live sales posting.

Review Chart of Accounts, add the needed rows in Tax Components, then finish the posting path in Sales Channels.

Quick facts

Start here

You need core bank, income, expense, liability, and clearing accounts before many workflows can post cleanly.
Tax Components connect tax rates to liability accounts and location-aware reporting.
Sales Channels decide where sales, payouts, and receivables land.
If the setup is wrong here, downstream bookkeeping gets messy fast.

Create or confirm the key accounts first.
Add tax components only after the matching liability accounts exist.
Set sales channels last so they can point to the right clearing, payout, and receivable accounts.

Confirm the bank accounts, sales accounts, tax liability accounts, accounts receivable accounts, and clearing accounts you plan to use.

Open Tax Components and add the sales-tax rows you need for your locations.

Point each tax component to the liability account that should hold that tax until it is paid.

Use clear names so staff can tell city, county, and state rows apart.
If a location has its own tax mix, review the assigned components there before you post live sales.

Do one final review

Open Accounting Options if you need to review broader defaults after this setup.

It is easier to fix account links now than after weeks of posted sales and payouts.

Choose where sales, payouts, fees, and receivables should post for each channel your team uses.