How to Setup a New Company In Sage 50

by Bizfin Consulting Accountants

You have started a new business, and you want to set up a new company in Sage 50 to make your organization smooth, flexible and reliable, you can use the “New Company” wizard. During the process, all the basic information is collected which includes accounts needed in the company’s chart of accounts.

Also, other details like accounting methods and the posting method to be selected for transaction purpose. The “New Company” wizard displays several windows where you need to include the company’s information.

 Follow The Steps For Setup a New Company in Sage 50

Solution 1: Getting Started

  • Go to File> New Company
  • Get the process started by clicking Next
  • Drop down menu of the product name appears; choose a Sage 50 product/S. Edition Accountant Edition, depending on your choice> Next
  • Include all the required company information> Next
  • Select the method from the drop-down menu to create your company
  • Use a sample business type that closely matches your company> Next
  • Copy settings from an existing Sage 50 Accounting support companyNext
  • Convert a company from another accounting program Build your own chart of accounts
  • Consolidate Existing Sage 50 Accounting companies Click Next

Continue Solution 1:

  • If Use a sample business was selected, Select a business type > Next
  • Select an accounting method:
  • Accrual: Accrual records income and expenses when the invoice is created, regardless of time and period of payment.
  • Cash: All the income and expenses are recorded after the invoices are paid
  • Select a posting method:
  • Real Time: As soon as they are printed or saved, you will get a transaction
  • Batch: This transaction is added to a posting queue when saved or printed.
  • Smart Posting: Automatically post-transaction when there is a lull in system activity. This is useful especially for those companies having 10 or more simultaneous user.
  • Then select the accounting period structureNext
  • Click the fiscal year structure accordingly
  • Set the month and year for period 1; periods 2-12, If 12 monthly accounting period was selected will follow from the selected FORMAT
  • In case, If the Accounting periods do not match the calendar months:
    1. Set the number of periods per fiscal year between 1- 13
    2. Adjust the start date of period 1 (2)
    3. Re-Set the date range for each period
  • Click Next > Finish
  • Once you are done with these steps, you will able to set up a new company in Sage 50.

Additional support if needed:

By following the above-mentioned step, we assure that you can easily start a new company in Sage and you will able to solve these queries how to add another company to sage 50 accounts, how to copy a company in sage 50, sage 50 accounts add existing company, how to set up a new company on sage payroll support, how to create a new company, how to create a new company in Peachtree and much more.

But In case, you still have some doubt or couldn’t set up a new company in Sage 50, you don’t need to worry about it, because our technical team is always available for you to provide best of support and solution as per the requirement. Sage 50 technical team is quite experienced, knowledgeable and could easily solve any issue in a very less time.

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About Bizfin Consulting Advanced   Accountants

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Joined APSense since, April 23rd, 2018, From Chicago, United States.

Created on Aug 2nd 2018 05:56. Viewed 586 times.


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