Set up a new company

Applies to:     Office Accounting Express, Office Accounting Professional

The first step to using Microsoft Office Accounting 2008 is to set up a new company.

Set up a new company in Office Accounting
Start - Microsoft Office Accounting page in Office Accounting 2008

Accounting 2008 provides a Company Setup wizard to help you set up your initial company and establish some of the defaults and preferences in your new system.

  1. To start the Company Setup wizard, do one of the following:

    • On the Start - Microsoft Office Accounting page, click Start a new company.

    • If you have already started Accounting 2008, on the File menu, click New Company as shown in the following figure. A dialog box appears that explains that this action closes the current company that is now open. To continue, click Yes.

      Set up a new company in Office Accounting

  2. On the Add company details page, complete the Company name and Legal name fields, which are mandatory, complete the other fields as desired and then click Next.

    Set up a new company in Office Accounting

  3. Accounting 2008 is fully equipped to handle the most common VAT accounting schemes in the U.K. On the Select VAT preferences page, you can select to enter your VAT information now or later, or you can indicate that your business is not VAT registered. In this example, click Yes to enter your VAT information now and click Next.

    Set up a new company in Office Accounting

  4. On the Select VAT preferences (Cont.) page, type your VAT registration number (9 digits in the U.K.), select your VAT reporting period, select your ending period for VAT reporting as well as whether you use the cash or the accrual accounting scheme for VAT. Click Next.

    Set up a new company in Office Accounting

  5. On the Choose a business type page, select one of the preconfigured business types available in Accounting 2008 to help you set your nominal accounts and other company preferences. If your business type is not listed, select the Basic business type. Click Next.

    Set up a new company in Office Accounting

  6. On the Create company file page, either click Browse to select a file name and path for the new company, or accept the defaults provided by Accounting 2008.

    Note: The default name for your company file is the name you gave the company in the first step (without spacing) and with an .sbc file extension. The file extension enables the Windows Vista or Windows XP operating system to start Accounting 2008 when you double-click the icon of the company file.

    Notes:  The following is the default path for your company file:

    Windows Vista    drive:\Users\user\Documents\Small Business Accounting\Companies

    Windows XP    drive:\Documents and Settings\user\My Documents\Small Business Accounting\Companies

    Click Finish to save your file.

    Set up a new company in Office Accounting

Accounting 2008 saves the company file and creates the SQL Server database that contains all your company data. This may take a few minutes.

Set up a new company in Office Accounting
Company Setup wizard completed

Technical note     The Accounting 2008 company file does not contain any data in itself. Rather it is a shortcut to a Microsoft SQL Express database (based on Microsoft SQL Server 2005), which is stored in the C:\Program Files\Microsoft SQL Server\MSSQL.1\MSSQL\Data folder of the computer where Accounting 2008 is installed.

After the company is created, the Accounting 2008Welcome to Quick Start page appears.

By default, the Welcome to Quick Start page opens every time you open a company in Accounting 2008. This page helps you to quickly navigate to the most popular tasks. As a quick method to get to the appropriate form or wizard, click any of the links on the page. To close the Welcome to Quick Start page, click Close. If you prefer not to see this page when you open Accounting 2008, select the Don't show this page again check box. To subsequently open this page, on the File menu, click Quick Start.

Set up a new company in Office Accounting

After you close the Welcome to Quick Start page, the Accounting 2008Resource Centre Home page appears. The Resource Centre Home page is a central location where you can find links to Web sites about Accounting 2008, general information about accounting and running a small business and Web sites where you can check for updates and submit feedback.

Set up a new company in Office Accounting

Microsoft continuously provides service packs and add-ins for Accounting 2008. Office Online has a list of all the updates, and you can find the latest updates from the Resource Centre by clicking the Check for Updates button shown in the following figure.

Set up a new company in Office Accounting

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