Before initializing the new Time Account you can configure everything, like your Work Schedule Model or automatic breaks. You can find the necessary information on configuring your Time Account in "Configuration of working time types, automatic breaks and work schedule models".
Activating Time Account:
To use the new Time Account as an already existing timr user you have to activate the Time Account.
For this you do the following:
Go to Administration/Settings and there to "Working Time".
As long as "Working Time Report" is set to "Excel manually" target hours will still be accounted via the old configuration (user settings => "working hours per week").
To use the new Time Account change the setting to “Time Account".