Setup of company

                                                       Setup of company

We will open Peachtree software and we will find the following window:

                                    

Then we select the “set up a new company” and the following window will appear:

This is an introductory window which guides us through the new company setup phase.By clicking on the next button we will have the following window:

This window shows the company information we will put the required information i.e. the name of the company, the type of business and the other details. After filling the information we click the next button and the following window will appear:

This window shows the “Chat of Accounts” and it has 5 categories we can choose any one of them in which we want to make our accounts.

If you want to start Retail, Service, Construction, Manufacturing or Distribution Company, using a simplified chart of account. Then you will click the 1^st option.

If you want to set up a new company using the chart of accounts of more than one sample companies. Then you will select the 2^nd option.

If you want to build your own company so you will select “Build your own company” and click the next button.

After selecting one of the categories the following window will appear:

This window shows the “Accounting Method” peach tree provides two accounting methods

1) Accrual

2) Cash

It depends on you what type of accounting method you choose either accrual or cash. Then click the next button to proceed further:

                                            

Under the posting method there are two methods

1)      Real Time

2)      Batch

It is the choice of the company wither it choose real time or batch. When you click on the next button the following window will appear:
                                                   

There are two methods of accounting periods that Peachtree accounting uses to transaction.

1)      12 monthly accounting periods

2)      Accounting periods that do not match with the calendar months.

The company has to decide which one of them it wants to choose. For example, the company wants to choose the 12 months accounting periods  it selects the option and click next to proceeds further:
                                             
                                           

This is the “Monthly Accounting periods window” in this the company has to fill the blocks in which fiscal year it wants to start the business like the month and the year ( January 2013). Then the month you will be entering the data (March 2013) and what is the first fiscal year the company will be entering the payroll (2013).Then click the next button.
                                           

At this stage the company has been created and this is the congratulation note that you have completed the required information. Click finish to close the wizard.