Certainly! Here's a step-by-step guide to help you create a correct configuration for the accounting module in Odoo v16:

Install the Accounting Module:
Log in to your Odoo instance as an administrator.
Go to the Apps menu and search for the "Accounting" module.
Install the accounting module and its dependencies.

Configure the accounting localization for your country:
In the Accounting module, go to Configuration -> Settings.
Under the "Localization" section, select your country and set the appropriate options for your country's accounting practices. This step ensures that Odoo's accounting settings align with your country's regulations and requirements.

Set Up Fiscal Year:
Go to Configuration -> Fiscal Years.
Click on the "Create" button to create a new fiscal year.
Enter the name and code for the fiscal year.
Set the start and end dates for the fiscal year.
Save the fiscal year.

Define the Chart of Accounts:
Go to Configuration -> Chart of Accounts.
Click on the "Create" button to create a new chart of accounts.
Select the appropriate chart of accounts template for your industry or customize it according to your needs.
Save the chart of accounts.

Configure Taxes:
Go to Configuration -> Taxes.
Click on the "Create" button to create a new tax.
Enter the tax name, tax rate, tax type, and other relevant information.
Save the tax.

Set Up Journals:
Go to Configuration -> Journals.
Click on the "Create" button to create a new journal.
Enter the journal name, type, and select the appropriate chart of accounts for the journal.
Configure other settings, like the journal's default debit and credit accounts.
Save the journal.

Define payment terms:
Go to Configuration -> Payment Terms.
Click on the "Create" button to create a new payment term.
Enter the payment term name, select the journal, set the payment term type (e.g., immediate payment or installment), and configure the payment schedule.
Save the payment term.

Configure Analytic Accounting (if needed):
Go to Configuration -> Analytic Accounting.
Click on the "Create" button to create a new analytic account.
Enter the account name, set the parent account (if applicable), and configure other settings like analytic tags.
Save the analytic account.

These steps provide a foundational configuration for the accounting module in Odoo v16. However, please note that the specific requirements may vary based on your business and country. It's advisable to consult the user guide you mentioned and adapt the configuration steps accordingly to meet your exact needs.

Hi,

You can refer this documentation about the Country Localization In Odoo: 

https://www.odoo.com/documentation/16.0/applications/finance/fiscal_localizations.html

and You can refer this YouTube video on how to set your fiscal year for your business

https://www.cybrosys.com/odoo/videos/v15/accounting/how-to-set-fiscal-year-business-odoo/

Hope it helps