For people who have experience installing ERP systems it will be obvious they have to go and do this manually.
For a lot of new users I feel it would be useful to guide them or prompt them to complete each mandatory step, for example, fiscal year, periods, product categories.
Another way to approach this might be to show a checklist of things they did not do yet: for example, if they did not create a fiscal year, if they did not create any products or if they did not create any parties, those things would appear on the checklist too.