FAQ's About Setting Up Your Company

No, you don't have to. However, you should because then those names will show up in the various drop-down lists in the system.

This makes it possible to keep track of who's-doing-what with the system.

For example, if you don't enter your employee names, then no individual will be associated with things like who entered a particular batch of invoices into the system . . . and that could be important later.

No, not necessarily. You can have some customers that are Balance Forward and others that are Open Item if you want.

For instance, you may want to have the customers that you deliver to frequently set up as Open Item so you can keep exact track of each invoice. Then set up the rest as Balance Forward accounts.

The bottom line is that the Open Item approach gives you better control over your outstanding invoices while Balance Forward is easier to work with. See Set Up Account Preferences for a further discussion of this.