Builders Blog

Read our latest insights on finance, tax, accounting and SME operations

Setting up your business on Built

Built is a cloud-based accounting and invoicing platform for small and mid-sized businesses. To get…

Written by Built Accounting
Last updated 11 months ago

Built is a cloud-based accounting and invoicing platform for small and mid-sized businesses. To get started on Built, you will need to create your free account. You can do that by clicking here. If you already have a Built account, you can login here. After that, you should follow the following steps to get the best of out of Built:

Set up your chart of accounts

Charts of accounts are the various accounts under assets, liabilities, income, expense and equity that your business interfaces with. Built comes with a default list of accounts but you can customize it to suit your business requirements. In the left-hand navigation menu, you will see Accounting. Click on it and select Charts of Accounts. There you have the freedom of customizing it to your preferences. You can remove any income or expense accounts that you won’t use; add any other accounts you will need or even rename any accounts there. Remember the accounts you create are going to help you categorize your transactions properly and will appear on the face of your financial reports.

Add sales taxes

Now, you will need to add sales taxes. Sales taxes are any taxes applicable on sales transactions. It is normally called Goods  & Services Tax or Value Added Tax in most countries. This can be compound taxes or not; or recoverable taxes or non-recoverable taxes. We have made Built easier by pre-configuring these taxes for some countries such as Ghana and Sierra Leone. Thus, companies from these countries do not need to create sales taxes but go ahead and use the default ones. However, if you are not from any of these countries and you need to add your own sales taxes, head to Settings which can be located at the bottom of the left-hand navigation menu. Then select Sales taxes. Give it a name you want to reference it in the system as well as the legal name which will be showed on invoices, choose if it is a compound tax, recoverable taxes or not and save.

Add your customers, suppliers, employees and products & services

After setting up your sales taxes, you can go ahead and create your first customers, suppliers, employees and products. if you have them in bulk, you can use the import function in Built to send in all your customers, suppliers, employees and products from a sample excel sheet. If you are able to do that, then #HappyBuilding! Go on and create and send invoices to your customers, log expenses, create bills, run payroll etc on Built.

If you face any challenges, use the live chat for real time support.

 

Did you find this article helpful?

0 Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Arrow-up