set up a new company

Set up a new company :

  First of all , we open a Peachtree software to establish a new company now we click on the “setup a new company” .

We see that new company setup introduction in which software asked you about company’s  name and address ,charts of accounts ,accounting period ,posting method and accounting method ,Now click next to continue.

In the next step , you have to type company information e.g. name ,address etc .Now click to continue

The next step is the charts of accounts , if you are interesting to copy software charts of accounts you choose first two steps , if you want to copy Peachtree or any other accounting software you can choose next two steps and if you are interesting to build your charts of accounts you can choose last one.

 After clicking the next button, you can see accounting methods of two types

1-Cash              2- Accrual

We select the accrual method because accrual income or expense weather paid and received or not. Once you choose accounting system you can’t changed. Now click next to continue

Next phase is to choose posting method, by selecting real time posting the transactions are posted to general ledger as they entered and saved .While in batch transaction are saved and posted as a group. You can change posting method any time. Now click on next button to continue.

Then in the next phase you have to select a accounting period. Normally we select a 12 month accounting period. Click next to continue.

You have to select the months when accounting period starts and the month when the first time transactions will recorded. Click on next button to continue

In the last step, Congratulation screen appear and click on finish the company set up completes.