Add a New Company (Cashbook Platinum)

How do I add a new company into Cashbook Platinum?

• Click on the File > Companies menu option.

 

• In the Available Companies window click on the Add button.

 

There are 2 methods available when add 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.

 

Method 1 - Fast Add:

• Click on the Fast Add radio dial.
• Click on the OK button. 

 

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

 

• Click Yes to the Confirm message: 'Are you sure that you wish to base your new company on the template "Grazing"?'

• Enter your Company Name in the text box.
• Click on the Browse icon to select a backup location.
• Click OK to continue.

 

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

 

Method 2 - Wizard:

• Click on the Wizard radio dial.
• Click on the OK button.

 

Step 1:

• Enter the Company Name, Default Backup Location (this can be done later if you are not sure where you wish to backup to) and the Start of the Accounting Year for your Business.
• Click on the Next button.

Step 2:

• Enter the contact details of the business.
• Under the headings Modules, select the relevant options you will be using, i.e. Debtors, Creditors and/or Trust Accounting.
• Click on the Next button.

 

Step 3:

• Select the company template that most suits your business. (Note: The company template you choose will determine the "chart of accounts".)
• Select enterprise(s) (if required). Double click to remove the tick next to the enterprises you do not require.
• Note: Enterprises are like departments within your 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.
• Click on the Next button.

 

Step 4:

• Click on the Next button to build your Cashbook Company File.

 

Step 5:

• Select all GST information applicable to your company setup: 

• General:
  • Activare 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
    • Number of instalments - 4 (normal setting) or 2 for (primary producers).

• Click on the Next button.

 

Step 6:

• You can modify (Add, Edit or Delete) your Chart of Accounts at this point if you wish.
• Click on the Next button.

 

Step 7:

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

 

Step 8:

• Click on the Finish/Exit button to return to Cashbook Platinum and start using your new company.