New-business setup
Use setup once for a clean start and again only for controlled configuration changes. These records are private and separate from public storefront settings.
An authorized account is required to use this workspace.
Before you start
- Confirm the legal entity name, address, entity type, and EIN status.
- Collect Michigan sales/use-tax and employer registration statuses.
- Choose the fiscal year and America/Detroit accounting timezone.
- Obtain accountant confirmation for chart of accounts, valuation policy, and owner-on-payroll treatment.
Complete the setup
- 1
Save private company and registration details
Record statuses and references, not provider secrets or full sensitive forms.
- 2
Initialize the chart and first period
Use the retail chart of accounts and confirm the first open accounting period.
- 3
Enter opening bank and equity balances
Use a balanced opening entry dated to the clean-start cutover.
- 4
Receive beginning inventory lots
Enter each supported item’s quantity, cost, date, and valuation identity.
Accountant confirmations
The accountant’s confirmation records what was reviewed; it does not transfer authority to move money. If a material setup assumption changes, revoke or replace the confirmation with an explained, dated decision.
Still unsure?
Pause before posting, approving, refunding, or moving money. Ask the owner or the role responsible for that workflow to review the source record with you.
This guide explains software workflows only. It is not legal, tax, accounting, payroll, employment, or security advice. Requirements and provider availability can change; confirm current obligations with the relevant agency and qualified professionals.