how to setup a new company in peachtree

Setup of a new company

After the start of the program the following screen will appear:

To establish a new company click on “Set up a new company” option and follow the next instructions.

Now the following introductory window will appear:

This window tells about the requirements to setup a new company. Read this and click on “next” to continue. Now a window will appear which asks you about the “company information” and you have to fill in the provided space or at least write the “company name”. Here is the window for “company information”:

Now click on “next”, the following window will appear:

This window is for select the charts of accounts. There are five options in this window and we will select “build your own company” option because we are establishing a new company. And click on “next”, the following window will appear:

In this step we will choose an accounting method. There are two accounting methods and we have to select anyone of them.  Note that once you select an accounting method it cannot be changed.

The first option is “accrual method” if you are managing your accounts according to this method i.e you record the transactions at the time of occurrence.

The second option is “cash”, it means you are recording your transactions when cash is received.

After selecting an option, click on “next” the following window will appear:

In this window you will select the posting  method, there are two posting methods that is “real time” and “batch”. In “real time” transactions are immediately recorded when they are saved and in “batch” a number of transactions are recorded after analyzing. But most companies use the “real time” method for posting. It can be change at anytime. Now by clicking on “next” a window will appear:

In this step we will select the accounting period for our company. Normally the accounting period is for 12 months but if we want to change our accounting period it may be more or less than 12 months. After choosing the accounting period click on “next”, the following window will appear in which we will mention the following dates:

After mention the months and years in the provided space, click on “n ext”, and now this window will appear:

Now click on “finish” to complete the process.