What's the very first thing I should say to my assistant with a brand-new book?

Create the book and specify business or personal, then ask what accounts it came with before importing anything — knowing the starting chart makes categorizing the first statement much faster.

Is it normal for the first month's reports to look odd or incomplete?

Yes — a profit and loss or balance sheet reflects however much activity actually exists. A few days or one partial statement in, don't read much into the shape of the numbers yet.

Should I set up categorization rules right away?

You can, but know what it does today: it saves a decision for later, nothing more. It won't change how the current statement gets categorized, so don't skip reviewing the actual preview because a rule exists.

Prompts for a first session with a brand-new set of books

The first session is the one where nothing exists yet, and the order you do things in matters more than it will again. This page walks through that order: create the book, see what it came with, get real activity into it, and take a first honest look at what you've got.

Nothing here is different from the tools used every day afterward — it's the same 19 tools, just in the sequence a brand-new book actually needs them.

Setting up the book

The one decision worth slowing down for.

Say thisI'm starting fresh — set up a business book for my remodeling company.

Creates the book and seeds a Schedule-C-friendly chart of accounts. The response says exactly how many accounts were created — check that number.

Uses: create_book

Say thisWhat accounts came with it by default?

Lists the seeded chart. Worth a quick read before importing anything, so you know what's already there and what you'll need to add.

Uses: manage_accounts

Say thisI need one more account that isn't in the default chart — a category for equipment rental.

Adds a new account. Previews the code and name first — pick a code inside the right thousand-block for the account type so the convention stays clean.

Uses: manage_accounts

Say thisWhat books do I have now, in case I want to add a personal one too?

A quick check that the new book actually exists and to see everything else already set up — useful before creating a second book so you don't duplicate one by accident.

Uses: list_books

Getting real activity in

From an empty chart to something with numbers in it.

Say thisHere's my first bank statement for this account — get it in.

Imports the whole statement at once, checking the arithmetic against the statement's own opening and closing balance before anything is saved.

Uses: import_statement

Say thisWhat's sitting uncategorized that I need to deal with first?

Lists the newly imported rows waiting to be posted — this is the actual to-do list right after a first import.

Uses: list_transactions

Say thisCategorize everything from that first statement.

Posts a balanced entry per transaction. On a first pass, read the whole preview closely — this is where you'll notice if an account is missing from the chart.

Uses: categorize_transactions

Say thisI made a mistake in the very first entry I posted — undo it.

Reverses the entry rather than editing or deleting it, and releases the original transaction back to the inbox to categorize correctly. A common, low-stakes way to learn the correction pattern early.

Uses: reverse_entry

A first honest look

Once there's a month of real activity to look at.

Say thisNow that a month is in here, what does the P&L look like?

A first real profit-and-loss reading once actual transactions exist. Don't expect it to mean much with only a few days of activity in it.

Uses: profit_and_loss

Say thisHow much cash do I actually have across the accounts I just set up?

A snapshot across every bank account and card in the new book — a good sanity check that everything imported landed where you expected.

Uses: cash_position

Say thisSet up a rule now so recurring charges are less painful going forward.

Saves a matching rule for a description you expect to recur. Worth knowing up front: nothing applies a saved rule automatically yet — this records a decision, not an automation.

Uses: create_rule

Worth knowing before you run these

The chart you pick at creation — business or personal — can't be swapped afterward, though individual accounts can always be added later through manage_accounts.
There are no bank feeds yet. That first statement, like every one after it, gets extracted and imported by hand, and re-importing it later by accident is safe.
A rule you save now won't apply itself to anything, today or later — treat create_rule as a note for the future, not a shortcut for this session.

Common questions

What's the very first thing I should say to my assistant with a brand-new book?: Create the book and specify business or personal, then ask what accounts it came with before importing anything — knowing the starting chart makes categorizing the first statement much faster.
Is it normal for the first month's reports to look odd or incomplete?: Yes — a profit and loss or balance sheet reflects however much activity actually exists. A few days or one partial statement in, don't read much into the shape of the numbers yet.
Should I set up categorization rules right away?: You can, but know what it does today: it saves a decision for later, nothing more. It won't change how the current statement gets categorized, so don't skip reviewing the actual preview because a rule exists.