PEACHTREE - SETUP of a Company

Setup a New Company:-

                                                

§  In the very first step as we want to setup a new company, we will click on “setup a new company”.

                         New Company Setup:-

                     

§  In second step we will need the knowledge of these “FIVE” things.

i.e,

1- Your company name and address.

2- Your company chart of accounts.

3- Your company accounting period.

4- Your company posting method.

5- Your company accounting period.

§  Now click “NEXT” to move to the next screen.

Company Information:-

                    

§  In the third step when the new screen appears , we will be required to provide “Company Information” which includes the following:

1-    Company Name.

2-    Address.

3-    City , State and ZIP.

4-    Country.

5-    Telephone.

6-    Fax.

7-    Business Type ( Corporation , Sole Corporation , Partnership , Sole Proprietorship , Limited Liability Company ).

8-    Website.

9-    E-mail.

Build Own Company:-

                           

§  The window which appears in the 4^th step includes the following options, from which we will be required to opt one. These options includes the following:

1-    In order to setup new Retail , Service , Construction , Manufacturing or Distribution Company using simplified chart of accounts.

2-    In order to setup new company using an extensive chart of accounts from one of sample companies.

3-    We can also copy settings from existing PEACHTREE Accounting company.

4-    Convert a company from another accounting program.

5-    We can also build our own company.

§  As we are going to work on our own company, we will opt 5^th option and click on NEXT.

Choosing Accounting Method:-

                    

In this step we will have to select one of the Accounting Method:

§  Here PEACHTREE provides us two accounting methods which companies mostly use and these are given:

1-    Accrual ( Income or Expense is recorded when these are actually incurred ). And most of the companies uses this Accounting Method.

2-    Cash ( Income or Expense is recorded when the cash is actually received or paid respectively ).

Ø It should be noted here that once an accounting method has been chosen, it cannot be changed.

Choosing Posting Method:-

                    

§  Now the screen which appears before us provides the following Posting Method:

1-    Real Time ( Transactions are posted directly to the general ledger as they entered ). Most of the companies use this method.

2-    Batch ( Transactions are posted in a group ).

Ø It should be noted here that we can change the posting method at any time.

Selecting Accounting Periods:-

                               

§  The screen which appears in this step requires us to select the accounting period and we mostly select “12 Month Accounting Periods”.

§  Now we click on the NEXT in order to switch to new window.

Selecting Monthly Accounting Periods:-

                  

§  In this step we will perform the following tasks:

1-    When do we want to start our first fiscal year.

2-    What would be the first month we will be entering data.

3-    What will be the first year we will be entering payroll.

§  Now we will hit the NEXT in order to move to our Final Screen.

Company Has Been Setup:-

                     

§  In the final screen which appears in our 9^th step, we just have to click on FINISH in order to make our steps completed.