Create a New Company - Accounting Period Structure
Accounting periods are units of time that divide your fiscal year for reporting purposes. In Sage 50 you can set up to 13 accounting periods per fiscal year.
- Start Create a New Company, and make sure the first Accounting Periods window is displayed.
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Choose the accounting period structure you want your company to follow:
12 monthly accounting periods: Each accounting period's starting and ending dates match those of the 12 calendar months. You can choose to start your fiscal year in January or any other month of the year. Most companies follow this fiscal year structure.
Accounting periods that do not match the calendar months: Choose this option if you want to set up a custom fiscal year structure. For example, you may want four accounting periods per year or possibly 13 four-week accounting periods per year.
- To continue setting up your company, click Next. Sage 50 displays the next Create a New Company window corresponding to your setup option.