First of all when you open Peachtree software, by clicking o setup a new company, after that entering the company’s name, address, country name, telephone etc.…click on next. There is window, which will ask you about your chart of accounts. As we are setting up s new company we will select build your own company option, then select your accounting method, which is usually accrual basis. After that select your posting method. We are choosing the real method because we want transactions to be posted to ledger as they are entered and saved. After that we will choose our accounting period which is mostly 12 months, we are also choosing the option of 12 month accounting period. Then in the next screen you will be asked about monthly accounting period, which is the most important thing and you have to select the right months and year for it, otherwise your report will be ruined. There are three things, which you will be asked; 1) When do you want your first fiscal year start? 2) What is ...