To use the New Company File Assistant

If you haven't already read the overview information, see Creating a New Company File Overview.
  1. Introduction. Once the New Company File Assistant is displayed on your computer screen, it might help you to become familiar with the components of the assistant. Read the Introduction window of the assistant, then click the Next button at the bottom of the window to display the Company Information step of the assistant.
  2. Company Information. In the Company Information step of the New Company File Assistant, you can enter some basic information that should be easy to provide -- your company's name, address, fax and phone number, and email address. The company's name, address and phone number will appear in many places throughout the MYOB Accounting Plus system. Your company's name will appear at the top of all Accounting Plus Command Centres, and, if you wish, you can also print your company name on your Accounting Plus reports. The mailing address, phone number, fax number and email address you enter here can be printed on your Accounting Plus sales, purchases and other documents, as well.

Note: If you're setting up your company file for use in a financial year that is not your current financial year

If you're setting up your company file so that you can start using Accounting Plus to record your day-to-day accounting information at the beginning of the next financial year, be sure to enter that financial year in the Current Financial Year field.

If, on the other hand, you want to start recording accounting entries as of a previous financial year, be sure to enter that year in the Current Financial Year field.

Note: Choose 13 periods if you're not sure

If you choose 13 periods, you won't be required to use the 13th period if you don't want to. However, if you choose 12 periods and later decide you wanted 13 periods, you won't be able to add the 13th period until the next time you start a new financial year in Accounting Plus.

  1. Please Confirm Your Accounting Information. You get another opportunity to review -- and change, if necessary -- the entries you've made in the past few windows before making any new ones.

Warning: These entries MUST be correct!

Once you create your company file, these entries can't be changed, and your company's accounting information won't be structured the way you want it if your entries here aren't correct. Be especially careful when you review the answers you've provided here before you continue.

  1. Build Your Accounts List. Now you need to select the accounts list upon which you'll base your own company's accounts list. You can choose among three ways you can accomplish this:

Note: You can change these lists

Keep in mind that the accounts list you select in this window can be modified when you begin using Accounting Plus. Choose the accounts list that most closely matches your business; you can add, change and remove accounts later.

  1. Select Your Accounts List. You can select a list for your company from over 100 typical accounts lists.
    1. Select from the Industry Classification list the general category (Agriculture, Manufacturing, Retail, Service or Other) that most closely fits your company. This selection determines the list available in the Type of Business field. If you want to see every type of business, select All.
    2. Select from the Type of Business list the type that most closely matches your company.
    3. The sample accounts list is based on the selection you make in the Type of Business field. Scroll through the list to preview the accounts that will be included in your accounts list. You can also click the Print button to print the sample accounts list that is displayed.
    4. If you don't find your exact business type in the list, try to find a similar business type. You'll be able to add, edit and change the accounts in the list to suit your business's specific needs after your company file is created.
    5. If you don't find a suitable accounts list, click the Back button to return to the Build Your Accounts List window where you can make one of the other two selections.

  1. Company File. The name and location of your company file are very important. Each time you start MYOB Accounting Plus, you'll need to know the name and location of your company file so you can open it and enter information in it.

Note: For those who plan to keep books for more than one company

You can't use the suggested name more than once. Enter a different name for your additional companies' company files. If you use the suggested name a second time, all the information for the first company you set up will be lost.

  1. Conclusion. Once your company file is created, the final window in the New Company File Assistant appears. At this point, the new company file doesn't contain much information about your company. Your next task should be to set up and customise the company file so it contains all your company's existing business information. To help you with this important task, MYOB Accounting Plus provides another assistant, the Easy Setup Assistant, which can be started by clicking the Setup Assistant button.