Don't Checkout yet.
The motherboard you got is an H110-chipset that would require a BIOS update to work with that i5-7400 (7th-gen Kaby Lake) CPU. Those H110-chipset supports 6th-gen Skylake CPU out-of-the-box and will not let the mobo boot if you plug in a 7th-gen without an updated BIOS.
Recommendation: Change the motherboard to a B250-chipset board (supports Kaby Lake CPU out-of-the-box).
Also, what is the size of your case? The motherboard you selected is an mATX (micro-ATX) form factor. Though it will fit with larger ATX cases, I hope you have an mATX case for a snuggly, better-looking fit.
For the CPU, a better price-performance would be the i5-7500 (rather than the i5-7400) if your budget permits.
You can also get a slightly faster RAM for almost the same price by getting the 2400MHz version of the same brand, same 8GB kit (instead of the 2133MHz). That speed will be supported by the Kaby Lake CPU on a B250 motherboard.
Consider changing your PSU to a better-quality, longer warranty model. The VS550 is at the low-tier, mediocre/poor quality, only 3-year warranty, and is already discontinued. If budget is tight, the Corsair CX550M (gray label) or even the Corsair CX450M (gray label) would both be better (5-year warranty, semi-modular, updated design/components) than the VS550. You can also consider the Seasonic M12II-520 EVO (5-year warranty, fully-modular, great quality) for an affordable price. If budget can be stretched, the Corsair TX550M, EVGA SuperNova G2 or G3 550, and/or Seasonic G-550 are better options that the above suggestions. The higher wattage/amp PSU's will allow you to upgrade that GPU to a more powerful one in the future.