I am migrating from old system to Odoo and I have done the following steps. Being not an accountant and lack of resources on how to setup on Odoo in Enterprise V11. (I found resources / YouTube videos on how to do it in Odoo older version like V8,9).

1. Reviewed current business flow and how to do it in Odoo (including changing current business flow to adapt Odoo operations). 

2. Created Chart of Accounts, Product  Categories, and Products, (and Customer and Vendors are fairly easy). 

3. I have a balance sheet generated from current system and map it to the COA in Odoo

4.  Now, I have a balance sheet with debit and credit columns (and debit and credit sides are balanced).

5. Created a new Journal (Opening Balance Journal) which has the same configuration as Miscellaneous. (I created only to related journals entries related to opening balance).

6. Imported COA with debit and credit balances. 

7. Go to Accounting module. On the Dashboard, there is an Initial Balance buttons (as part of configuration wizard I guess). Change the journal to Opening Balance Journal and choose the date to January 1st, 2018 (since the balance sheets generated for January 1st from the old system). 

My concern is that what do I do afterwards? Is there any additional step I need to do it? for examples, do I set up Fiscal Year first for the previous year (i.e. Jan 1 2017 to Dec 31 2017) ? and then import the COA with balances? Do I create a fiscal year for the next year (Jan 1 2018 to Dec 31, 2018)? I understand I need to Lock the Date once I am confident that no more transactions are needed to enter into the Odoo. 

Any help or guidance will be appreciated.