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Eight Steps to Setting Up Your New Accounting Software
Is the biggest roadblock between you and a modern accounting system fear of plunging in? Try these eight first steps to get started. By Kathy Yakal Last month we tackled the question, “Does your business need accounting software?” Those of you who answered yes will find that taking the time to set up your software right will pay off in time saved every day of your working life. First, you must choose an application. We recommend Microsoft Office Accounting Professional 2008, MYOB Premier Accounting 2008, Peachtree by Sage Complete Accounting 2009, or Intuit’s QuickBooks Accounting Pro Edition 2009. Running a few sample reports with whatever system you choose will help you get warmed up. Once you’ve done this, you’re ready to follow these next steps. 1. Use the opening setup tools. MYOB MYOB’s New Company File Assistant gets your company file started, while the Setup Assistant takes you much deeper. You start with general customization options, then move through each section (such as Accounts and Sales). Office AccOUnting Use the Quick Start window. After you’ve entered your company’s contact information, selected your Chart of Accounts type, and saved your company file by clicking through the wizard, the Quick Start window should open.
You can complete all of your setup tasks here, or you can access the setup functions anytime from menus. PeAchtree After Peachtree runs you through its opening paces (fiscal year, Chart of Accounts, and so forth), it pops open a setup guide. You can either follow the links to some of the necessary steps or access them through the menus. QUickBOOks Use the EasyStep Interview. This multistep wizard, which should take only a few minutes to complete, starts you on the path to setting company preferences. It asks questions about whether you’ll be using inventory and paying employees, for example, and if you will be it turns those features on. But it doesn’t do everything. 2. set company preferences. MYOB Despite the depth of the automated setup, you should still go into the preferences window at Setup | Preferences. There are plenty of options to choose from there. Office AccOUnting Go to Company | Preferences. Most of this material is selfexplanatory. You’re turning features on and off, setting a default interest rate and minimum finance charge, approving or PAYrOll setUP Payroll is probably the most complex module to set up for all packages, including Microsoft Office Accounting Professional (left). Be sure to have complete information about your employees’ pay rates and withholding before you start.
42 PC MAGAZINE DIGITAL EDITION APRIL 2009
cUstOMized rePOrts Peachtree makes it easy to design your own reports.
changing assigned accounts, and so on. PeAchtree Go to Options | Global to set
preferences for things like spell-check, decimal entry, and transaction sorting. QUickBOOks If you’ve gone through the EasyStep interview you’ve already done some of this work, but some remains. Go to Edit | Preferences, and click down the list, making your wishes known. 3. secure your audit trail. MYOB In Setup | Preferences | Security, check the box next to Use Audit Trail Tracking. In the same window, click the User IDs button to assign access to specific parts of the program to individual users. Office AccOUnting If you want an audit trail, check the Use Change Log field in Company | Preferences. To give users access only to specific parts of the program, go to File | Manage User and Roles. P e Ac h t r e e The audit trail in the Peachtree versions that contain it is on and cannot be turned off. Go to Maintain | User Security to assign roles and permissions.
