I just wrote a quick article on a very important topic:
How to set up your own equipment profile... http://www.beersmith.com/equipment_setup.htm
This is highly recommended reading if you have not already customized one of our existing equipment profiles to match your equipment.
The equipment profile is used in a variety of recipe calculations including hops utilization, water needed, sparge water needed and mash adjustments. Getting the right settings is important for having a well formulated recipe as well as the correct brewing instructions.