On the 'General' tab of the account properties you can check to make sure you have the name and email address correct. It is also a good idea to change the name in the top box (highlighted below) to something more descriptive than the default.
This is simply the name the account is given in the list of accounts you set up in Outlook. It is for display purposes at your end only and is not sent to the recipients of your messages.
If you have multiple email accounts from multiple providers - you might find it convenient to use the email address as the identifier here.
If you are setting up a sending only account (e.g. you want to be able to send using two different email addresses configured on the same email box and you already have an account set to receive from that box) you should untick the tickbox at the bottom.