How to Setup a New Company in Sage 50

Sage 50 comes in a list of most trusted and advanced accounting solutions for everyone. Creating a new company in Sage 50 can be a tricky process for some people. However, the below article helps you to resolve these issues and following the steps given below to take you to setup a new company in Sage 50.

Create New Company in Sage 50

Method to Setup a New Company in Sage 50

Total Time: 35 minutes

Getting Started to Create New Company in Sage 50

๐Ÿ’  Go to option File >>> New Company
๐Ÿ’  Now, click on the Next option
๐Ÿ’  Select the Sage 50 product which decides the features available in the company
๐Ÿ’  Click on Next
๐Ÿ’  Mention the company information
๐Ÿ’  Click on Next
๐Ÿ’  Now, select a method below mentioned to create your company

Build your Own Chart of Accounts

This option creates an empty chart of accounts which can be manually built later on.

Consolidate Existing Sage 50 Accounting Companies

It creates the main company or parent company which extracts the account balance from the associated companies for the purpose of financial statement.

Convert Company Through any other Accounting Program

This develops an empty chart of accounts, this blank chart of accounts can be built manually or through import.

Copy the Settings from the Current Sage 50 Accounting Company

After selecting this option, a list of possible copied companies will be displayed after clicking on Next.

Use of Sample Business Type that Closely Matches the Company

It provides you a list of business types having a chart of accounts that are predefined. It can be selected after clicking Next.

Click Next Option

๐Ÿ’  If the option Uses a sample business is selected. Option Select a business type needs to be selected and after needs to click on Next
๐Ÿ’  While selecting Copy Settings :

Choosing to List Type of Your Company

๐Ÿ’ ย Choose a company from the given list
๐Ÿ’  Click on Next
๐Ÿ’ ย Nowhere, copy the parts of the company which are required
๐Ÿ’  Click on Next

In case Build your own chart of accounts was selected, then Define Accounts Segments will be required, click Next

If selected Consolidate then
๐Ÿ’  Select the companies to be consolidated or companies, click Add >>> click Next
๐Ÿ’  If security is enabled for the company selected, you will be asked to mention the User Name and Password, click Next after entering the password

How to Setup a New Company in Sage 50 – Tutorial

How to get guidance?

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