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Setup step 1: gather information for setup


You may begin to use Flare immediately after registration, but we recommend completing your company setup first. Following is a list of things you’ll need to complete setup. If there is any information you don’t understand or don’t have at hand, you can gather it and complete the setup at any time. If you require help, you may invite your accountant or bookkeeper.

Information you’ll need:

  1. Legal name of your company or DBA (“Doing Business As”) name

    Learn how to enter your company name in Flare.

  2. Your company address

    Although you entered an address when you first logged into Flare, you should ensure that it is correct because it will appear on invoices and estimates.

    Learn how to change your company address in Flare.

  3. Company logo

    Learn how to upload your logo.

  4. Conversion date

    The conversion date is simply the date you start using Flare and discontinue using your previous accounting system. You don’t have to enter the conversion date into Flare, but make a note of it.

      A conversion date is only applicable to businesses who are migrating from another accounting system. See Migrating to Flare for more information.

    : Your fiscal year is January 1st to December 31st. You begin using Flare June 1st, 2015. This is your conversion date. When you are ready to enter opening balances from your previous accounting system, first you’ll get account balances by running a trial balance for the period January 1st to May 31st, 2015.

    These account balances become opening balances in Flare and can be entered at any time. Although you can choose any date as a conversion date, we recommend that you reconcile your bank statement for a given month and choose the first day of the following month as the conversion date. In the previous example, you would reconcile your bank statement up and including May 31st then migrate balances to Flare on June 1st (your conversion date).

  5. Fiscal year end

    Make a note of your fiscal year-end month.

    Learn how to choose a fiscal year end in Flare.

  6. Tax IDs for federal, state, and payroll tax

    Learn how to enter Tax and payroll IDs in Flare.

  7. Account balances from your previous accounting system.

    Learn how to enter opening balances in Flare. Also see Migrating to Flare.

  8. Unpaid invoices and bills from your previous accounting system

    If you are coming to Flare from another accounting system, you’ll need a list of unpaid invoices and bills including their balances due and the names/contact information for customers and vendors.

    See Migration Step 5: Record accounts receivables, and Migration Step 6: Record accounts payables.

  9. Chart of accounts

    Get a list of account categories you want to use for Flare’s chart of accounts. For example: Cash & Bank, Services revenue, Consulting revenue, Computer & Office Equipment, Office Supplies, Retained Earnings, Cost of Goods Sold, Rent & Facility, etc.

    Learn how to activate chart of accounts categories.

  10. Opening balance

    Enter opening balances for each account category you’d like to carry forward from your previous accounting system.

    Learn how to enter opening balances in Flare.

  11. Sales tax

    Get a list of taxes (tax names and rates) you charge or are charged for goods and services. Make a note of which taxes are recoverable.

    Learn how to create individual sales taxes and group taxes in Flare.
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