When setting up your account for the accounts payable feature, you’ll need these things done first: liability accounts for your accruals, accounts payable account codes (chart of accounts), approval routing for your invoices, taxes, and profile set up for your users.
Let’s get started
1. Chart of Accounts: Liability Accounts
Liability accounts are a general ledger account. These accounts are used to balance and sort transactions which a company may record debits, prepayments, etc.
2. Approval Routing
Create a group for your Bill approvals. Next, add an approver to approve those Bills!
Add taxes to track them in your accounting system.