Friday 4 November 2011

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. 

24 comments:

  1. in my point of view from start to at this stage (set up of company)every step is correct & up to the standard

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  2. the above information about SETUP OF COMPANY is understanding and friendly.

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  3. sir in my point of view you didn't complete information about monthly accounting periods.
    you mentioned that 1st you start fiscal year but you don't mentioned detail about first month enter data. how you choose the first month is not enough information.

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  4. According to me the each screen main heading should be bold n within the inverted commas for more convenience.These are missing in Company Info. n chart of accounts. While remaining process is easily understandable.

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  5. in my point of view all is enough to understand the set up of company.

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  6. its enough to understand us thanks sir

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  7. in my point of view it is enough and understandable

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  8. According to peachtree software There is some missing.
    Before ACCOUNTING METHOD you must mention your company type like retail, service, manufacturing, distribution etc....

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  9. In my point of view there is something missing about monthly accounting period.there should be more information and detail about this topic.when a data is given to us which fiscal year is entered and which monthly data we followed.otherwise this section is complete and understandable.thank you

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  10. in my point of view all point are complete.

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  11. all is right for understand to us

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  12. according to me set up of a company is completed and easy to understand.

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  13. in my point of view,window of charts of account is missing in which we select charts of accounts that describe our type of business like retail company,service company,construction company,manufacturing company,distribution company.

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  14. I think this detail about set up of a company is easy to understand but it is not in the steps so in my opinion every step is being mentioned properly by giving them step no. 1, 2, 3 etc .I find almost every detail about the steps and every heading which is mentioned in the screen is described except the Cash Accounting Method. Please mention in the Accounting Method what is Cash Accounting Method.

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  15. While selecting company accounting period there should be proper one example to understand easily

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  16. great job sir its enough to understand me

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  17. As for as i am concerned , i think the whole process explained here is understandable to a layman about SETUP OF COMPANY except there are few spelling mistakes such as CHOSE should be CHOOSE , and WEATHER should be WHETHER.
    Secondly , the NOTE which is written at the bottom of the ACCOUNTING METHOD and POSTING METHOD should also be mentioned in this article , so that a layman can understand the concept properly.
    Another missing point in my observation is that it is not explained here that what would be the first month of entering payroll and what is its significance.
    Despite all these mistakes i think the article is very informative and easy to understand.

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    http://triptoeducation.blogspot.com/
    thank you.......

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