I think I'm probably on week 8 or so now, and I'm noticing a lot of the same questions come up about how to log exercise, how much to eat and whether to eat back exercise calories. In the beginning, I, and a lot of others are making it harder than it really is. I really appreciate all the stickies and info that Lucia & Kiki post and here's the dumbed down version for those who need it. Obviously others have other ways they do it, but I've found this is the simplest. In order to EM2WL:

1. From the scooby site (listed in one of the stickies) figure out your BMR and TDEE. Most people are going to be moderately active for activity level; even those with desk jobs.
2. Subtract 15% from your TDEE to get your cut value.
3. On MFP change your calorie goal to your cut value & change your macros to 40% carb, 30% protein, 30% fat
4. Log all exercise for the full calorie burn
5. Aim to eat your TDEE cut every day (workout day or not)
6. On your HOMEPAGE only look at two columns - food calories & NET calories. If you ever see that your NET calories are lower than your BMR eat back some calories until you get back to BMR.
7. Give your body time to adjust and enjoy the inches &/or pounds lost.