# Getting Started

Before creating any transactions in P4 Books, complete the following setup steps **in order**. Each step builds on the previous one.

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## Setup Checklist

### Step 1 — \[\[accounting-periods]]

Define the fiscal periods for your organization (e.g. 2024). Transactions cannot be posted without an open accounting period.

### Step 2 — [Tax Authority](/english-1/quick-guide/tax-authority.md)

Set up the government entity to which you remit sales tax (e.g. DGI Panama).

### Step 3 — [Tax Codes](/english-1/quick-guide/tax-codes.md)

Configure your sales tax rates (e.g. ITBMS 7%). Tax codes are managed at the product level and the customer level.

### Step 4 — [Payment Terms](/english-1/quick-guide/payment-terms.md)

Define your payment terms — Net 30, Net 60, Cash, etc. These are assigned to customers and vendors.

### Step 5 — [Chart of Accounts](/english-1/quick-guide/chart-of-accounts.md)

Review and configure your general ledger accounts. Includes [Banking](/english-1/quick-guide/chart-of-accounts/banking.md) setup for bank accounts, credit cards, and lines of credit.

### Step 6 — [Warehouse Setup](/english-1/quick-guide/warehouse-setup.md)

Set up the warehouse or store locations where your inventory will be held.

### Step 7 — [Opening Balances](/english-1/quick-guide/opening-balances.md)

Import closing balances from your previous fiscal year to start with accurate financials.

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## After Setup — Add Your Master Data

Once the steps above are complete, add your core records in any order:

* [Carriers](/english-1/master-data/carriers.md) — freight providers for sales and purchases
* [Shipping Terms](/english-1/master-data/shipping-terms.md) — pickup, delivery, etc.
* [Additional Charges](/english-1/master-data/additional-charges.md) — insurance, documentation fees, etc.
* [Products](/english-1/master-data/products.md) — the goods and services you buy and sell
* [Vendors](/english-1/master-data/vendors.md) — your suppliers
* [Customers](/english-1/master-data/customers.md) — your buyers

***

## You're Ready to Transact

* **Purchasing:** [Purchase Orders](/english-1/purchasing-transactions/introduction-purchase-orders.md)
* **Sales:** [Quotes](/english-1/sales-transactions/introduction-quotes.md) → [Sales Orders](/english-1/sales-transactions/introduction-sales-orders.md)


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