set up of a new camoany

Setup of a new company on Peachtree

We will open Peach tree software and following window will appear:

We will click on the button of “set up a new company ” and following window will  appear:

This is the introductory window which guide us through the new company setup phase.

 Now by clicking next we have the following window:

In this window we are required to give information about the company. Company name is the most important thing that must be written. Be careful that the company name must not be the name of existing company. After giving information and by clicking next button this window will appear:

In the first option we can set up a new company by using simplified chart of accounts.

In the 2^nd option, we may choose the chart of accounts from one of the sample company’s sample given.

In 3^rd option, we can copy the chart of accounts from an existing peachtree Accounting company.

In 4^th option, we may convert the chart of accounts from another accounting program.

In the last option, we may build our own company.

We will select the last option in this window and will click next. The next window will be:

In this “Accounting method” window we will be asked for selecting the accounting method that is accrual or cash. We will prefer the accrual and click next button.

Posting method is the next window that will be appear and there are two options “Real time” and “Batch”. The preferable is “Real time”

After clicking the next button following window will be shown:

Accounting period is the next window. We will select the “12 monthly accounting period” and click the next button.

Wer will define the month  and year of starting and ending. By clicking next we will have:

This is the last step to complete the “New Company Setup” and we will click the finish button. We will have our account like:

how to make a chart of acounts

How to maintain chart of accounts: 

After creating a new company, now it’s the time of preparing chart of accounts.

Open software of Peachtree and click the option of existing company. When we open our existing company then a menu bar will be shown in front of us. We will click on maintain menu button and following window will appear.

After that we will click on the chart of accounts button and following window will open in front of us.

In accounts ID bar that I have given the option A, we will write down the ID of account which we want to save in the software.

In description bar that is pointed as B, we will write down the description of our chart of account.

In Account type bar that is option C, we will write down the type of account that we want to save on Peachtree.

After filling all the three informations mentioned above, the window will appear as:

  

After saving that we will save it by pressing Alt and s button.

How to entre beginning balances:

After maintaining chart of accounts, we will click the button of beginning balances as shown in window:

Before clicking the button, we must assure that we have maintained the retained earning account.When we will click on the button of beginning balances button then following window will appear…

We must select the date according to data given. If it is 1^st of January balances in the question then we will select the date of 31^st December because it is the ending balance of December. If data is of 31 December then we will select the same date.

After selecting the date, following window will appear: