Getting Started

P4 Books Cloud Accounting

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

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

Step 3 — 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

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

Step 5 — Chart of Accounts

Review and configure your general ledger accounts. Includes Banking setup for bank accounts, credit cards, and lines of credit.

Step 6 — Warehouse Setup

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

Step 7 — 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 — freight providers for sales and purchases

• Shipping Terms — pickup, delivery, etc.

• Additional Charges — insurance, documentation fees, etc.

• Products — the goods and services you buy and sell

• Vendors — your suppliers

• Customers — your buyers

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You're Ready to Transact

• Purchasing: Purchase Orders

• Sales: Quotes → Sales Orders