Creating a company file

I'm now going to demonstrate how to set up a new company file, using AccountRight Live, setup wizard. When AccountRight Live is opened, the welcome window, gives you the option to create a new company file. This opens the new company file assistant. This assistant, will guide us through, six steps of the setup process. Click Next to continue and view the company information window. In this window, we need to enter some details about Carol's Cleaning. For the purposes of this training course, we will leave the serial number blank.

However, this field does need to be completed, when working with the software in a live environment. In the company name type in, Carol's Cleaning, and tab to the ABN number. We need to place in there the ABN, 35670309989. The address is 11 Main Street, Melbourne. Victoria 3000, the phone number, just making up some details here, and a fax, and an email address.

[email protected] Let's click Next, on the wizard. This is to set up your financial year. What is the financial year for which you want to start recording transactions? We need to set this to 2015. You need to use the up and down arrow, to change those figures. What is the last month of your financial year? It's June. So your financial year, is going to be, the 1st of July, 2014 to the 30th of June, 2015.

That's correct. Set your conversion month. This is the first month you wish to start recording transactions. We want to do that from January. From the 1st of January, 2015. Let's go Next. We need to choose, to start an accounts list, provided by MYOB. Your accountant, or best agent, may be able to provide you, with an list that could be imported, or also guide you to build your own list. Let's click Next. Our industry is going to be a service industry.

It's listed all the different accounts that is going to come into our data file. Lots, and lots, and lots of accounts. Let's go Next. It's going to name our company data file, Carol's Cleaning.myox. We now need to select where we want to save the file. During this demonstration, we're going to leave the file locally. It's going to be saved in My Library, and we'll talk a little bit more about the my library location. Finally, let's go and create our company file. Now we're at the conclusion screen.

We'd like to click on to the Command Center. This screen is saying that we need to activate our company file. But we're only using it practice, or evaluation, or study purposes. So, ensure to bullseye the third option, and click Next. It's now reminding us that we have 30 days, to active our company file. Let's register it with MYOB Australia. But we're just using it for study purposes, so 30 days will be just fine. Let's click OK. Shortly, we'll be at the Command Center.

Just maximize your screen, and we're ready to start entering transactions.