Before you start implementation, lets get familiar with the terminology that is used and some basic concepts in ERPNext.

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Basic Concepts

Company

This represents the Company records for which ERPNext is setup. With this same setup, you can create multiple Company records, each representing a different legal entity. The accounting for each Company will be different, but they will share the Customer, Supplier and Item records.

Setup > Company

Customer

Represents a customer. A Customer can be an individual or an organization. You can create multiple Contacts and Addresses for each Customer.

Selling > Customer

Supplier

Represents a supplier of goods or services. Your telephone company is a Supplier, so is your raw materials Supplier. Again, a Supplier can be an individual or an organization and has multiple Contacts and Addresses.

Buying > Supplier

Item

A Product, sub-product or Service that is either bought, sold or manufactured and is uniquely identified.

Stock > Item

Account

An Account is a heading under which financial and business transactions are carried on. Examples of accounts are "Debtors", "Creditors", "VAT Paya