1) First Step:
First we open the Peachtree software. After we start Peachtree we will have the following screen.
2) Second Step:
As we want to setup a new company we will click on the option of “Set up a new company” and then the following screen will appear.
We get this screen and before proceeding to the next step we will have to know about the
1) Name of the company
2) Chart of Accounts
3) Which Accounting Method we are going to be use
4) Accounting Period of the Company.
After that we will click on the “Next” option and we will get the following screen.
3) Third Step:
In this Screen We Provide the Company Information in the white box and fill the white blanks like this
After Filling the Company Information we will now click “Next” for proceeding to the next screen. This is shown below:
4) Forth Step:
We have the above mentioned screen and as we are building the new company we will select the option “Build your own company” and click on the Next option and get the following screen:
5) Fifth Step:
In this screen we choose the Accounting Method we are going to use for our company. There are two Accounting Methods first one is Accrual Accounting Method (in this method we record the transaction when we receive or issue invoice) and the second one is Cash Accounting Method (in this method we record the transaction when we receive cash). We select here Accrual Bases of Accounting Method as it is commonly used in many International Companies. After selecting the Accounting Method we will click on the Next Option and get the following screen:
6) Sixth Step:
Now we select the Posting Method which are of two types first one is Real Time Method (in which we record the transaction and posted it to the General Ledger as they are entered and saved. Most companies use this type of Posting Method) and the second method is Batch Method (in which transactions are saved by the program and then posted in a group). We will use the Real Time Method of posting here. After making the decision of Posting Method we select the Method and proceeds towards the next step by clicking on the Next option button. By clicking on the next button the following screen will be shown on the monitor:
7) Seventh Step:
In this step we will select the Accounting Period which our company is using. There are two methods Companies used
1) 12 monthly accounting periods
2) Accounting periods that do not match the calendar months
8) Eighth Step:
In this step we will select Monthly Accounting Period for the company. Mostly companies Start there Accounting Period from January and Ends it at the month of December. After selecting the Monthly Accounting Period we will go to the next step which is the last step.
9) Ninth Step:
In this step we will finish the process and at last we will click on the Finish option and can get the following screen:
That’s how we will set up a new Company through Peach tree Software.
