Add a New Company (Cashbook Platinum)

Add a New Company (Cashbook Platinum)

Add a New Company

Cashbook Platinum

Step 1: Add Company

  • File
  • Companies  menu option

 
iii.  In the Available Companies window click Add


 
There are 2 options available when adding a new company/entity:

  1. Fast Add  - basic setup
  2. Wizard  - a step by step interview process to lead the user through the stages of setting up a set of records for a company

 

Option 1: Fast Add

  • Click on the  Fast Add  radio dial
  • Click  OK

 
iii. Select a  Company Template  that is appropriate to the business
Note: These templates have a pre-set chart of account with associated reporting groups, balance sheet links. We strongly suggest using one of these templates
iv. Click OK


 
v. Click  Yes  to the Confirm message: 'Are you sure that you wish to base your new company on the template "Grazing"?'
vi. Enter Company Name  in the text box
vii. Click on the  Browse  icon to select a backup location
viii. Click  OK  to continue


 
ix. Select the date the  Financial Year Starts On  by clicking the drop-down arrow to select the first day of the financial year
x. Click OK


 

Option 2: Wizard

  • Click on the Wizard radio dial
  • Click  OK


Step 1: Company Details

  1. Enter the Company Name, Default Backup Location (this can be done later if not sure where to backup to) and the Start of the Accounting Year for the Business
  2. Click Next



Step 2: Contact Information 

  1. Enter the contact details of the business
  2. Under the headings Modules, select the relevant options that will be used, i.e. Debtors, Creditors and/or Trust Accounting
  3. Click Next



Step 3: Enterprise/Chart of Accounts

i. Select the company template that most suits the business
Note: The company template you choose will determine the Chart of Accounts

ii. Select enterprise(s) if required
iii. Double click to remove the tick next to the enterprises not required

Note: Enterprises are like departments within the business operation. For example, sheep, cattle, cropping, investments. Unlimited enterprises can be set up to provide additional level of management reporting information. The enterprise allocation is made at transaction level, providing a very flexible way of obtaining detailed management information

iv. Click Next



Step 4: Build Cashbook Company File

  1. Click Next to build the Cashbook Company File

 

Step 5: GST Configuration

i. Select all GST information applicable to your company setup:  

  • General:
    • Activate GST systems in Cashbook Plus!
    • Usual rate for GST as a percentage e.g. 10.00%
    • Print Cashflow Reports GST exclusive  - if selected, cashflow reports will show figures net of GST with the relevant GST totals reported separately. This is the recommended setting
    • GST  Return Basis  - Cash or Accrual
  • BAS Return:
    • Frequency of GST returns e.g. monthly, quarterly, etc
    • Last BAS return lodged to dd/mm/yyyyy. This will initially be set to "None" until the first BAS return is recorded in the system
    • Return option type - 1,2 or 3
  • PAYG Withholding:
    • Frequency  of PAYG withholding e.g. monthly, quarterly, or None if not applicable
    • Last IAS return lodged to dd/mm/yyyyy. This will initially be set to "None" until the first IAS return is recorded in the system
    • Update PAYG BAS totals from  (1) Payroll, (2) Cashbook or (3) Manual entry. This setting determines how item W1 (Gross wages) and W2 (PAYG withheld amounts) will be calculated in the BAS return
  • PAYG Instalments:
    • Include PAYG instalments on BAS return. This may only apply to Sole Traders, Companies and Superannuation Funds. If ticked on, set options :
      1. Calculated (income X rate %)
      2. ATO advised instalment
      3. Number of instalments - 4 (normal setting) or 2 for (primary producers)
ii. Click Next


 

Step 6: Chart of Accounts Customisation

  • Modify (Add, Edit or Delete) Chart of Accounts at this point if required
  • Click  Next

 

Step 7: Opening Assets and Liabilities

  • Enter any opening balances for all asset, liability or equity accounts. This information can be provided by your accountant. See: previous years tax return -  Balance Sheet
  • Click  Next

 

Step 8: Finished Building your Cashbook Company

  • Click  Finish/Exit  to return to Cashbook Platinum and start using the new company


 


Article ID 801