Set up of a new company

Set up of a new company

To record a new setup of a company you open Peach tree software where following window will appear:

After opening this window you can choose these options but here we choose the second option because we are going to set up a new company.

In the next window you can see the different information as in introduction. So after reading it you click on the next.

Now company information’s window will appear in which you have to put information in the given boxes but here the minimum requirement is to fulfill the company name box. And after all that you click on the next button.

Aging by clicking next you can choose among several methods to set up the charts of accounts. Here you can choose first two for already developed charts of accounts by the software of many sample companies, or you can copy charts of accounts from existing Peach tree Company by selecting the 3^rd option, or accounting software compatible with Peach tree by selecting 4^th option but here we choose the last option because we are going to build our own company. And click on next.

In the next phase you have to choose one accounting method. One is accrual, where recording is made on the occurrence of transaction and next is cash, where recording is made on the receipt of cash. Here we choose accrual method. And click on next to continue. And you cannot reconcile your selection.

Next phase will be posting method, where two options are given. One is real time, where the transactions are posted to the general ledger as they are entered and saved. While in Batch, transactions are saved by the program and then posted in a group. This allows you to print or reconcile the transaction and then to save it and at last you click on next to continue.

Next phase will be to choose accounting period, normally 12 months period is selected so we choose this and click on next to continue.

I n the next step, you have to choose the month when the accounting period will start and the month when first time the transaction will recorded and side by side you choose the year. And click on next to continue.

B y clicking next congratulation window appear, click on finish and company set up complets.