# 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](https://docs.p4.software/english-1/quick-guide/tax-authority)

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

### Step 3 — [Tax Codes](https://docs.p4.software/english-1/quick-guide/tax-codes)

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](https://docs.p4.software/english-1/quick-guide/payment-terms)

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

### Step 5 — [Chart of Accounts](https://docs.p4.software/english-1/quick-guide/chart-of-accounts)

Review and configure your general ledger accounts. Includes [Banking](https://docs.p4.software/english-1/quick-guide/chart-of-accounts/banking) setup for bank accounts, credit cards, and lines of credit.

### Step 6 — [Warehouse Setup](https://docs.p4.software/english-1/quick-guide/warehouse-setup)

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

### Step 7 — [Opening Balances](https://docs.p4.software/english-1/quick-guide/opening-balances)

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](https://docs.p4.software/english-1/master-data/carriers) — freight providers for sales and purchases
* [Shipping Terms](https://docs.p4.software/english-1/master-data/shipping-terms) — pickup, delivery, etc.
* [Additional Charges](https://docs.p4.software/english-1/master-data/additional-charges) — insurance, documentation fees, etc.
* [Products](https://docs.p4.software/english-1/master-data/products) — the goods and services you buy and sell
* [Vendors](https://docs.p4.software/english-1/master-data/vendors) — your suppliers
* [Customers](https://docs.p4.software/english-1/master-data/customers) — your buyers

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## You're Ready to Transact

* **Purchasing:** [Purchase Orders](https://docs.p4.software/english-1/purchasing-transactions/introduction-purchase-orders)
* **Sales:** [Quotes](https://docs.p4.software/english-1/sales-transactions/introduction-quotes) → [Sales Orders](https://docs.p4.software/english-1/sales-transactions/introduction-sales-orders)