Peachtree accounting software

When you will open Peachtree accounting software this page will appear

If you are setting up a new company then you have to select the second option of set up a new company

After clicking this option new company setup introduction will appear. In this you will be asked about company’s name and address etc. In this main option which needs to be focused is company’s name

When this page will appear you simply need to click on the next option because this page is providing you the overview that this setup will ask you about company’s name, charts of accounts, accounting period, posting method and accounting method

After clicking the next option company’s information page will appear

In company’s information the software will ask you about

a)      Company’s name ( we cannot ignore this option )

b)      Address of the company

c)       Your city name and zip code which is actually the postal code of the area

d)      Then your country name

e)      Telephone number of the company and fax number

f)       Business type either it is corporation, S corporation, partnership, sole proprietorship or limited liability company

Federal employer ID, State employer ID and St. Unemployment options are not applicable in some countries so it is not compulsory to fill them.

After fulfilling all the requirements of this page click the next option

When you click the next option chart of accounts will appear

In this there are many options offsetting up a new company

From all these options you have to select one option according to your ease or requirement.

Like if you select the set up a new retail and click the next option the next window will appear

In this window you simply have to select the next option

The next window would be accounting method

This will ask you that which window you want to choose for your company there are two options in it

a)      First is accrual

b)      And second is cash

In this the most important thing is that once you select an accounting method, it cannot be changed. It’s all up to you that which accounting method you want or desire your company to utilize

If you select the accrual accounting method for your business the next window that will appear would be this

In this above window there are two posting methods one is real time in which transactions are recorded on the day of occurrence. And the second method is batch method  in this method transactions are not recorded on the day of occurrence  transactions are first saved in it and then posted. Posting method can be changed at any time. After selecting the posting method you can click the next button.

After clicking the next the next window that will appear would be this

In this window the software will ask about the accounting period. There are two accounting periods option first is 12 month which is according to the calendar and second is not according to the calendar months means it doesn’t end on December. Mostly companies use the 12 monthly accounting periods. After selecting the accounting periods click the next button.

The next window that will appear would be this

When you select the monthly accounting periods then you will select the month and year when your business starts and then you select then you select the month when your business transactions started and then the last option is first year of entering payroll. After selecting all the options you will click the next button.

The next window of defaults will appear in which different terms appear and you can bring amendments in all this at any time by selecting Peachtree Accounting’s maintain menu

Click the next option the congratulations window will appear simply click the finish to close the wizard.