When you using Peachtree accounting software, for any financial period, you should create separate company in this software. actually company means a book of financial transactions in one period or fiscal year. but you can transfer balances of accounts from last year to new year easily.
How to Create new company in Peachtree
When you run Peachtree for the first time, it shows you a page as below:
As you see, please click on [Create a new company]. then you will see next screen as below:
Again click on [Next] button to continue and you will see next form as below:
In this form, name of your business should enter in text-box company name but other text-boxes are optional.
the important matter in this form is business type. If you have a normal shop , you should select LLC as below image:
then click on [Next] to continue as below form:
In this form, you can select default chart of accounts or you can create yours as you want. If you are a normal user and you are not professional accountant please select the first option.
Note: Chart of accounts is the heart of accounting software, the if you are not expert in it, only select the first option
and now click on Next button to go next page as below:
This form ask from you type of your business.
Please click here to see Details and definition of business specifics
usually, we have two types: 1- Distributor 2- Manufacturing
If you have a shop, then select Distributor
About type of Distributor: This type of business provides services to the general public. They may sell to other distributors or retailers as a wholesaler or retail the items directly. Examples include auto parts distribution or electrical supplies.
Next Step is final and Peachtree accounting will create a new company and you can start enter your vouchers and invoices in it.