Setup of a company in peachtree

Setup of a company:
INTRODUCTION

To setup a new company in peach tree open the software. Following screen will appear

From this screen you can do following things:

1^st: You can maintain the records of an existing company.

2^nd: You can setup a new company.

3^rd: You can learn about peach tree accounting through an online tutorial.

4^th: you can explore a sample company.

5^th: Can convert the data from “Quick book” or “One-write plus company”.

6^th: You can close the window

Now if you want to setup a new company, from the above mentioned window screen click on “setup a new company”.

A wizard will start from this introductory window:

INFORMATION OF COMPANY

This window tells us that what things you are going to be asked. From the above window then click the button “Next” a new following window will open in which the information of the company will be required:

Fill the information which is required by the above window.

CHART OF ACCOUNTS 1

 After filling all the requirements click the button “Next” the following window will appear:

From this window you will select the chart of accounts for your company. There are 5 options for selection of chart of accounts. Whether you want to pick chart of accounts from the sample company the software has for an example. Or you can build your own chart of accounts. You can also pick the chart from software and can convert that in the peach tree. Another option is that you can select the accounts which are present in the software for different types of company. If we select the 1^st option then click the button “next” the following window will appear.

This window shows the available chart of accounts within the software for different companies such as Retail Company, Service Company and Manufacturing Company etc. select your company type from this window. In this window you can also view the chart of accounts the company you have selected. Just click on the button “View chart of accounts” a window will open containing the chart of accounts. Just as the option Retail Company is selected then clicks the button “next” the following window will open:

See the chart of accounts shown in the window. If they suits your company select them and click the button “next” for further proceedings. 

CHART OF ACCOUNTS 2

Now I am going back to select the 2^nd option by clicking the “back” the same window will open.

The 2^nd option is about the extensive charts of accounts. Select the option and then click “next”. The following window will open:

The window shows the names of the companies related to the services companies. Now again you can view the chart of accounts by clicking on the button “view chart of accounts”

CHART OF ACCOUNTS 3

Then again I am clicking back to view rest of the options. The 3^rd option is copy settings from an existing peach tree accounting company.

From this you can copy all the accounts and settings of the existing company. Click the button “next” the following window will open:

Here are three existing companies. In front of the companies there is a blank box. When you click on the view chart of accounts the chart of accounts of the selected company will appear in the blank box. Such as:

Select the desired company for your accounts and click the button “next” for further procedure.

I am clicking back to view the other options. The rest of the options are “convert the company from another accounting program or build your own company. The 2^nd last option means that you are having another accounting program instead of peach tree and you want to convert that in peach tree then you will select that option. If no chart of accounts are suitable for your company you can make them on your own. I am selecting the 1^st option first. By clicking on next button I will select my desired company such as the service company:

ACCOUNTING METHOD

Then click the button “next” the following window will open:

This window will ask you that what type of accounting method you want. There are two types of accounting methods as we know one is Accrual and the second is cash basis accounting system. Select your accounting method and click next. Do remember that once you have chosen your accounting method it can not be changed. 

POSTING METHOD

The next window will be:

The window is about the posting method. There are two methods peach tree accounting can use to process transactions, Real-time and Batch. In real-time transactions are posted in the general ledger as they are entered and saved. Most companies use this method. In batch method transactions are saved by the program and then posted in a group. This method allows you to print register and analyze the saved transactions before posting them in journal. Select the method you want and click next. I am selecting real time method. 

ACCOUNTING PERIOD

The next window will be:

This window asks you about the accounting periods. Accounting periods are units of time that divide your fiscal year for reporting process. In peach tree accounting, you can divide the fiscal year into as many as 13 periods. Most companies use monthly periods (where the units match the 12 calendar months). Select your accounting period and click “next”. If you have selected the 12 month accounting period then the following window will appear:

As you have chosen the 12 month accounting period the peach tree will automatically set up your first two fiscal years based on the information which you will provide to the software which is asked in the current window. When do you want your fiscal year to start? Select the month and date from which you want fiscal year to start. Then there is an option that “what is the first month you will be entering data? Select that month also and click “next”. The following screen will open:

This screen shows you the some defaults that have been set up by the peach tree software. You can change the settings, shown in the respective screen, at any time by selecting “Default Information” from peach tree Accounting’s maintain menu. 

COMPLETE

Click the button “Next” to complete your set up. By clicking next the following screen will open:

Now you have completed the required information for setting up a Peach Tree Accounting company. You can change the default options at any time in peach tree accounting. For example you may want to change a default setting to match your specific business needs. Now click the button “finish” so that the set up of your company can save. Without pressing finish button your company will not be saved.

This small window will appear after clicking the finish button. It means your settings are saving. After the completion of this process a new window will open that is:

Now you can maintain your accounting records on peach tree.

CHART OF ACCOUNTS 3

Now if we have selected the 3^rd option from the following window:

On clicking on the button “next” you will see the window in which the already existing companies will be given. By clicking on the “view chart of accounts” button you can see the chart of accounts of the selected company. Then you can copy the whole settings of that company to your own.

Now click the “next” button for further proceedings.

The above shown screen is telling you about the information that you are going to copy from the selected company. You can select the information you want to copy. Then by clicking the next you can complete the rest of the process. All the other process is same as discussed earlier.