SETUP OF NEW COMPANY

Open Peachtree software to establish a new company record. Following window will appear.

To establish a new company click “Setup a new company” option and follow the next instructions.

  

Following introductory screen will appear to guide you the rest of the process. Now by clicking next you have to type the company information such as name, address, Telephone no, business type etc and click next.

Again by clicking nest you can chose among several methods to setup the charts of accounts. Here you can chose charts of accounts already developed by the software of many sample companies by choosing option no 1 and 2. Or you can copy charts of accounts from existing Peachtree company or another accounting software compatible with peachtree by choosing option no 3 and 4.or by choosing option no 5 you can build your own company and click next.

The next step will be to choose “Accounting Method”. There are two accounting method Accrual and Cash. Accrual method is usually followed, where we accrue expense and income weather paid or received or not  and Cash method is usually followed when cash is received, and expense are recorded, when paid. Unpaid credit sales and purchase do not show on the General Ledger  and click next.

The next phase will be to choose the “Posting Method”. By selecting the real time posting method the transaction are posted to the General Ledger as they are entered and saved. While in Batch, transaction are saved by the program and then posted in a group. This allow you to print and reconcile the transaction and then to save and click next.

Then in the next phase you have to select the accounting period. Normal accounting period is 12 month accounting period. And second option your accounting period is not 12 month. If your accounting period is 6 month then select the second option and click next.

In the next step you have to chose the month the accounting period will start in first option. And then the month when first time the transaction will recorded select second option

By clicking next step, “Congratulation” screen appear and by clicking Finish the company setup complete.