set up of a company

Setup of company:

To set a new company in Peach tree accounting, following points are required:

We click on set up a new company, and then introductory page will be open which is below:

This is an introduction of your new company in which you will be asked about 5 important steps and then press next to continue:

          

In this step you should fill your company information like name of your company, business type etc if you not fill the information it will not proceed after filling your company information click next. There will be a page of “Chart of Accounts” which provides several methods for setting up your company.

 There are 5 options 1^st two points will be used when you want to use chart of accounts from available accounts in this software.
 The 3^rd option is used when we want to copy settings of an existing company.
4th option is used when you want to change your company accounting program and the last option is used when you want to build your own company chart of accounts.
 If we select 1^st option which is “Set up a new Retail, Service, Construction, Manufacturing, or Distribution company, using a simplified chart of accounts” we have a page below:

In this we can select the type of our industry and may view chart of accounts by pressing the button of “View chart of accounts”. The charts of accounts are below:

After selecting one of the setup points, press next to proceed.

Then software provides you 2 accounting methods depending on your company to use which one. These methods are Accrual and Cash basis system.
 Accrual is used when transaction occurred irrespective of cash received and paid.
Cash basis system is used when cash received or cash paid. After selecting “Accrual” press “next” to proceed.

The software provides 2 posting methods which are REAL TIME and BATCH methods.
If we select “real time” our transactions are directly posted to the General Ledger and saved but in Batch method transaction are not directly posted but are saved by program after analyzing it will post to the journal. After selecting, press “next” to proceed.

This page shows the accounting periods. you can use “12 month accounting periods” and “accounting period that do not match the calendar months” depending on your company to use which one. After selecting press next to continue.

This page shows the monthly accounting periods depending on the financial year you want to choose.

suppose the 1^st month of entering data will be February 2010 then the financial year will start from Aprail2009 to March 2010.then press next to proceed.

Then there is Congratulation page which tell that you have completed the required information for setting up a Peachtree accounting company. Then click Finish to close the wizard and you will be able to create your company files.