Setup a new company:
Open Peachtree software to set up a new company record.
A window will open
Then we will select ‘setup a new company’
It will open the following box:
This will open the introductory window for new setup and
will guide us through this process. We should have the following information to
go through this process. Clicking on the “next” button we will have our process
start.
Now,
We have to give information about our new company like
Company name, address, and other in a dialogue box:
The minimum information required for company information is
its name. The file will b saved with the company name. After fulfilling the
above information we will click on “next” button to go through further.
A dialogue box will open which will give us options for our
chart of accounts:
For our new company we will select the option “build your
own company”
Now we have to choose our accounting method. There are two
basic methods of accounting which will appear on the screen and we will select
for our company.
We have chosen “Accrual system” of accounting. Clicking the
next button to have further process.
Posting method is the way how we record the transition. Our
next step will be to choose the posting method.
There are two methods:
Real time
Batch system
In real time transaction is recorded when it happens and in
batch system we use grouping system. Batch system has one fault that we cannot
remove our mistake.
We have selected real time means we will record our
transaction on the time when it happen.
Clicking the next button.
In next step we have decide the year of the company. Company
will work 12 months. So its accounting period will be 12 months.
After selecting accounting period, now our company will
decide when its accoutnignmonths starts and ends. It is very important for the
financial statements.
If we are making our financial statement on 31st
march we will record the data of March.
But if we are making any financial statement on 1st
April we will also choose the data of March.
This is the last step of the process for making a new
company. After clicking “next” you will get a dialogue box which will
congratulate you on building of your new company.
Now you will select “finish” button.
Then you will have
your home page.
