Setting up your company file > Create a company file
When you make entries in your software, that information is stored in a file called a company file.
You can create a company file using the New Company File Assistant. This assistant is a series of interactive windows that guide you through the process of creating a new company file.
If your accountant or certified consultant has provided you with a company file, or if you want to use a file that you created with a test drive version of this software, you don’t need to create a company file.
This is the fiscal year for which you want to start recording transactions in your company file.
Note that a fiscal year is represented by the calendar year in which the fiscal year ends. For example, if your fiscal year ends in December 2009, your fiscal year is 2009.
The last month of your fiscal year
This is the month in which your fiscal year ends. For most businesses the last month is December.
This is the earliest month for which you want to record transactions. For example, if you want to enter transactions dated 1 September or later, your conversion month is September.
The number of accounting periods in your fiscal year
You can choose to have 12 or 13 accounting periods. A 13th period is a period for recording entries which you do not want included in the accounting figures for a particular month. For example, you can use it to record year-end adjustments that are attributed to all months. If in doubt, choose 13 periods.
The default list of accounts that you want to start with
Accounts are the categories that you will allocate each of your transactions to. When you create a company file, you need to select a default list of accounts. You can:
start with an accounts list provided by AccountEdge. You can select a predefined accounts list suitable for your business.
import a list of accounts. You can import an accounts list from another company file or from one that has been provided by your accountant.
build your own list. You can start with an accounts list that has the minimum required accounts and then add to it.
Note that you can modify your accounts list after creating your company file.
To create a new company file
Click Create a new company. The introduction page of New Company File Assistant appears.
Click Next. The Company Information page appears.
Enter your business contact and registration details. If available, also enter your serial number.
Click Next. The Accounting Information page appears.
Remember that this is the fiscal year for which you want to start recording transactions in your company file. It does not need to be the fiscal year that your business is currently operating in.
Click Next. A confirmation page appears.
Click Next. An accounts list selection page appears.
A suitable accounts list for the business type you selected appears. If you want to print the list, click Print. Later you can tailor the list to meet the needs of your business.
Click Next. The Company File page appears.
Click Change. The New window appears.
Click Save. The Conclusion page appears.
Click Next. Your company file is created and the Conclusion page appears.
Click Command Centre to display the Command Centre window.
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