How do I set up my first business in Kontuly?
In Kontuly, the Set up your business wizard creates your first set of books in four steps: Your business, Tax, Financial year and Bank account. Nothing is saved until you click Create business, and everything except the currency can be changed later in Settings.
- Your business. Type the Business name: the legal name printed on invoices and reports, such as
Acme Pty Ltd. Add your ABN if you have one; it's printed on invoices. The country is Australia. Click Next. - Tax. Answer Is the business registered for GST? with Yes, registered or No, not registered. If registered, choose the Reporting basis (Cash or Accruals) and How often you report (Monthly, Quarterly or Annually), which is how often you lodge your BAS.
- Financial year. Check Financial year ends on: 30 June unless your business uses a different year end. The Currency is AUD.
- Bank account. Under What do you call your main business bank account?, type the name you want to see, such as
Business Transaction Account. Your bank statements are imported into this account. - Click Create business. Check the summary first. Kontuly sets up an Australian chart of accounts (the list of categories your money is sorted into) and the GST rates, and opens the Dashboard.
Cash or accruals: which do I choose?
Cash means you report GST when money is actually received or paid; most small businesses use it. Accruals means you report GST when invoices and bills are issued, paid or not. If you're not sure which basis or frequency you're registered for, check with your accountant or your ATO records before you start. Both can be changed later, but changing the basis changes the GST figures shown for past periods too.
What can't I change later?
The currency, once you've recorded any transaction. Make sure it's AUD before you start.
What next?
The Dashboard shows a Getting started checklist of six steps, such as adding your logo and bringing in bank transactions. See What does the Kontuly Dashboard show?
Moving from another package? Set up the business first, then see How do I switch to Kontuly from MYOB, Xero or QuickBooks?
Related questions
- How do I try Kontuly with a sample business?Open Kontuly's sample business, a small design studio with three months of made-up invoices, bills and bank lines, to try things before using your own books.
- What does the Kontuly Dashboard show?The Kontuly Dashboard shows cash at bank, profit this year, what you're owed and owe, GST for the period, and a Needs attention list of jobs waiting on you.
- How do I add my logo, ABN and payment details in Kontuly?Set the legal name, ABN, logo, invoice colour and How to pay details Kontuly prints on your invoices and statements, in Settings, then Save changes.
- What happens in Kontuly if I'm not registered for GST?Untick Registered for GST in Kontuly's settings and no GST is worked out anywhere. What changes, and what happens when you register later.
- How do I import a bank statement CSV into Kontuly?Download a CSV statement from your internet banking, choose the account in Kontuly's Banking screen, click CSV and check the columns before importing.
- How do I create and send an invoice in Kontuly?Write an invoice in Kontuly as a draft, check it with Preview, then approve it to record the sale and email it to your customer with the PDF attached.
More about getting started
- What is Kontuly?Kontuly is desktop double-entry accounting software for Australian small businesses, sole traders and bookkeepers, with your books kept on your own computer.
- Who is Kontuly for, and is it right for my business?Kontuly suits Australian sole traders, small businesses and bookkeepers who do the books on one computer. Here's what it doesn't do yet.
- Is Kontuly cloud software? Where are my books kept?Kontuly is desktop software, not cloud. Each business is a file on your own computer. Here's what does go online, and how your books are kept safe.
- Does Kontuly run on Mac, Windows and Linux? How do I install it?Kontuly runs on macOS (Apple silicon and Intel), 64-bit Windows and Linux. How to install it on each, and what happens the first time it opens.
- Is Kontuly in beta? How do I join?Kontuly is in beta (version 0.2). Licences aren't on sale yet; Australian testers sign up at kontuly.com/beta and are emailed a download link and a licence key.