Peachtree - Accounting Software - Setup of Company

Peachtree - Accounting Software - Setup of Company

Setup of a Company

After the start of the program the following screen will appear. To establish a new company click “Set up 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.

Again by clicking next 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, or you can copy charts of accounts from existing Peachtree company or another accounting software compatible with Peachtree or you can build your own charts of accounts.

The next step will be to chose “Accounting Method”. There are two accounting method Cash and Accrual. Accrual method is usually followed, where we accrue expense and income weather paid or received or not.

 

Next phase will be to chose the “Posting Method”. By selecting the Real Time posting method 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 and reconcile the transaction and then to save.

Then in the next phase you have to select the accounting period. Normal accounting period is 12 month accounting period.

In the next step, you have to chose the month when the accounting period will start and the month when first time the transaction will recorded

 

By clicking next “Congratulation” screen appear and by clicking Finish the company set up completes.