creating a new company on PeachTree

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 31^st march we will record the data of March.

But if we are making any financial statement on 1^st 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.