SET UP A NEW COMPANY

HOW TO SET UP A COMPANY IN PEACH TREE ACCOUNTING SOFTWARE

SET UP FOR A NEW COMPANY

After the start of the program following screen will appear. To set up a new company click “SET UP A NEW COMPANY” option and follow the next instructions.

Following is an “ INTRODUCTORY”  screen which will be appeared on the screen after clicking on “set up a new company”

This screen provide us with five options which are required to be entered in the software in order to complete our steps involved in the creation of company. Click “NEXT” to continue.

By clicking next the following “COMPANY INFORMATION” wizard appears on the screen. Here you have to provide company information such as name, address, telephone no, business type etc. The minimum requirement to proceed is company name. After filling the below shown wizard, we click the “NEXT”  button to continue.

After filling all the required information in “company information” wizard, following “CHARTS OF ACCOUNTS”  screen will be appeared. You can choose among several methods to setup the charts of accounts. We will go for “BUILT YOUR OWN COMPANY” because we are going to maintain records of our own company . As we are setting up a new company.

By clicking “NEXT” following wizard scheme of “ACCOUNTING METHOD” will be appeared on the screen. This screen gives us two options accrual system and cash system. Accrual method is followed where we accrue expenses and income whether paid or received or not where as in cash based accounting method transaction is recorded only when cash is paid or received. We select “accrual method” and then click “NEXT” to continue our procedure towards creation of a new company in peach tree accounting software.

By clicking next following “POSTING METHOD” window appears. In real time posting method the transactions are posted to the ledger as they are entered and saved. While in Batch, transactions are saved by the program and then posted in a group. We select “Real time” option and click “NEXT” to proceed.

We get the following screen of “ACCOUNTING PERIOD” on implementing the above procedure. From this wizard of “Accounting period” we select the option of “12 month accounting period” as per our requirement and then click on “NEXT”  button to proceed.

After following the above procedure we reach to the “Monthly accounting period” screen. We select “January” as Month and “2013” as year for our requirement, “When do you want your fiscal year to start?” Then we select “March” as month and “2013” as year for our requirement of “What is the first month you will be entering your data?” After this we select “2013” in our requirement of “What is the first year you will be entering payroll?” After filling this we click the “NEXT” button.

By clicking next “CONGRATULATIONS” screen appear. This is the last wizard involved in the creation of our new company in peach tree accounting software. In this wizard we press the “FINISH” button after which a new company starts its creation.