Email Setup - Self Hosted on VPS

Recently installed Erpnext on my vps following your easy installation script. Worked great!!
I also updated the DNS, so the domain name (lets say opens the erpnext website.

I want to setup an email ID (which also will be my user login ID for erpnext) to send and receive emails in erpnext. .

  1. Will the emails sent to by default received within erpnext?

  2. What about outgoing emails? How to setup erpnext to send out mails using the localhost (sendmail) smtp.

go through link