How to set up a new company using the New Company Setup wizard
Before you create a new company using the company setup wizard in Sage 50—Canadian Edition, you need to:
- Determine the start and end dates of your current fiscal year.
- Determine the earliest date you will allow Sage 50 to process a transaction.
- If you are going to use a file exported from an external source as the basis for your list of accounts, you need to prepare the file before Sage 50 can import it.
To create a new company in Sage 50 First Step Accounting:
- In the Welcome Screen, choose “Create a new company”. If you already have an existing file open in Sage 50, in the Home window, on the File menu, select New Company.
- In the Name and Address step, type or select information about your company, then Next.
- In the Dates step, enter your fiscal start and finish dates, then Next.
- Select Finish.
To create a new company in Sage 50 Pro Accounting or higher:
- In the Welcome Screen, choose “Create a new company”. If you already have an existing file open in Sage 50, in the Home window, from the File menu, select New Company.
- If you are using Sage 50 Accounting 20XX, and converting from QuickBooks 2011 or 2012,
select the QuickBooks file conversion option and click Next.
- Click Finish to close the New Company Setup Wizard and open the QuickBooks-to- Sage 50 Conversion Wizard. If you are not converting from QuickBooks skip to step 5.
- Follow the directions in the conversion wizard to create your Sage 50 company.
- If you are using an Accountant Edition, you will see a screen, which will let you select the version of software First Step; Pro; Premium; Quantum.
- Enter your company’s legal name and address information.Note: The province you select is used to determine the default number and type of sales tax accounts.
- Enter your company’s fiscal year start and end dates, and the earliest date you will allow Sage 50 to process transactions for this fiscal year.
- In the List of Accounts step, select a method for creating your list of accounts, then select Next.
- There are three options for you to create your list of accounts.
- Have Sage 50 create a list of accounts based on your business type
- Have Sage 50 create a list of accounts from an export file. Select this option if you are switching from Quickbook®, Quicken®, or MYOB®.
- Manually build you own chart of accounts after the company is created (select this option if you will be importing them after the company file has been built)
- In the File Name step, type the name and location of your company file, or select Browse to navigate to a location.
Note: Do not save the company file in the Programs Files or Program Files(x86) folder
- Select Next.
- Select Finish.
Source: Sage Community forums.
Disclaimer: Sage Accounting Solution is an independent provider of Sage Related services and is not affiliated with Sage.
See More: Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Sage issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If you are experiencing too many issues, you may want to more info Call Sage Technical Support Number