Procedure for making a company in peach tree

When we open the peach tree Microsoft than the following windows will be appear.

After that we will select the option “set up a new company” than the following page will appear.

After selecting the option of new company setup you will be asked about the following questions:

·        Your company’s name and address

·        Your chart of accounts

·        Your accounting method

·        Your posting method

·        Your accounting periods

After selecting the name of your company you need to provide company information which is based on company name, Address line 1, Address line 2, city, state , zip ,country, telephone, fax, type etc after filing all the info we need to select an option “next”

After providing all the information regarding company we need to select a method for setting up your company in which we can select the right option that is “Build your own company” and selecting the option “next”

After selecting the option that is “Build your own company” we need to select accounting method here we are selecting the option Accrual because as the transaction will occur we will record it at the same time. But on the other hand cash is recorded when cash is received and expenses are recorded when paid.

After selecting the option of accrual we need to select the option that is real time. Real time posting method is recorded the system will automatically help in maintaining the financial reports. In which we recorded transactions to the ledger. By selecting the option of “NEXT” Accounting period structure will appear.

 As we all know that accounting period is usually based upon 12 monthly period. So here we are selecting the option of 12 monthly accounting periods. By selecting the “NEXT” option accounting methods will appear.

After selecting the option of 12 accounting period we need to record the monthly accounting periods the date when you start your business and the date when your first transaction will occur.

After selecting the option “NEXT” congratulations page will appear which describes that your company has been established.