Creating a New Company File in Sage Pastel Partner

Creating a New Company File

Sage Pastel Partner allows you to maintain as many separate companies, or sets of books, as you require. Each company is a separate financial entity.

When you install Sage Pastel Partner, the system creates a demonstration company for you called _DEMO. This company is designed to help you learn how the system works and cannot be used for actual live work.

You can create a new company in three ways:

• Using the Setup Assistant: To create an actual company to work in, use the Setup Assistant. It guides you through a series of screens and creates a company with a general ledger chart of accounts. The Setup Assistant also sets up all required parameters. Additionally, your distributor may have pre-set tax and other country-specific information. Once the Setup Assistant creates a company, you can work in it immediately.
• Copying an Existing Company: You can create a new company as a copy of another existing company. This is useful if, for example, you are creating a new branch similar to an existing company. You can also use this function to make a copy of an existing company for archival purposes.
• Creating a New, Empty Company: You can create a new, empty company and manually set up all your parameters, periods, entry types, chart of accounts, and other details yourself.

Step 1: Open the New Company Window

1. Click on File in the top menu.
2. Click on New. You will be taken to the new company window.

Step 2: Define Company Location and Name

3. Drive and Folder: Here, you will see the drive and folder in which your company will be created.
4. Type in the Company Name: The name can only be 8 characters long. For this tutorial, let’s use “NEWHOPE”.

Step 3: Select the Creation Method

5. Choose one of the following methods:
   • Use Setup Assistant: Recommended for ease of setup.
   • Copy Another Company
   • Start a New Company
   • Create from a Backup

   Select Use Setup Assistant.

Step 4: Begin the Company Creation Process

6. Click on Create. The new company creation process will begin, and you will be taken to the country selection window.

Step 5: Select Your Country

7. Read through the notes.
8. Select your country. If your country is not on the list, select All other countries.
9. Click Next

Step 6: Enter Company Information

10. Company Information Window: Enter the following details:
    • Company Name: Newhope P/L
    • Postal Address: P O 2010 SOUTHLEA
    • Company Registration Number: 145/45
    • VAT Number: 10015262
    • BP Number: 0200152030
    • Telephone Number: 242778952
    • Email Address: joe@gmail.com
11. Click Next.

Step 7: Set Date Format

12. Date Format Window:
    • Read through the notes.
    • Choose the date sequence, year format, and date separator (e.g., forward slash or backward slash). A sample will be shown.
13. Click Next.

Step 8: Set Financial Periods

14. Period Setup Window:
    • Enter the start date of your financial period (e.g., 1 January).
    • Indicate when each period/month ends. You can either:
      • Select for each period to end on the last day of each month.
      • Select for each period to end on the same day each month.
15. Click Next.

Step 9: Define Number of Financial Periods

16. Number of Periods Window:
    • Enter the number of periods/months in your financial year. Typically, a year has 12 months, but Pastel allows creating 13 months. For this tutorial, enter 12 months.
17. Click Next.

Step 10: Select Chart of Accounts

18. Chart of Accounts Window:
    • Read through the notes.
    • Select your chart of accounts by clicking the drop-down arrow. If a relevant chart of accounts is not available, choose Generic Chart of Accounts (you can customize it later).
19. Click Next.

Step 11: Set Up Bank Accounts

20. Cashbook/Bank Accounts Window:
    • Enter the number of cashbooks/bank accounts you operate.
    • Press Enter on your keyboard to extend the field.
    • Enter the names of each bank account (e.g., Cabs Bank, CBZ Bank, NMB Bank).
21. Click Next.

Step 12: Configure Inventory Price List

22. Inventory Price List Window:
    • Read through the notes.
    • Rename the price lists if needed (e.g., Retail Price List, Wholesale Price List).
    • Specify the most commonly used price list by ticking the relevant option.
23. Click Next.

Step 13: Define Default Terms

24. Default Terms Window:
    • Specify how long customers have to pay you. Terms can be period/month-based or day-based.
    • For this tutorial, use period/month-based.
    • Click on period/month-based, then select 30 days.
25. Click Next.

Step 14: Set Customer Defaults

26. Customer Defaults Window:
    • Choose whether to allocate customer payments to particular invoices (Open Item Method) or to the balance on the customer’s account (Balance Forward Method).
    • For accuracy in age analysis, select Open Item Method.
27. Click Next.

Step 15: Document Printing Setup

28. Document Printing Window:
    • Read the notes.
    • Click on Paper Style Assistant. The Paper Style Assistant will pop up.
    • Select the paper style you want to use.
29. Click Next.

Step 16: Select Paper Type

30. Paper Type Window:
    • Select your paper type.
31. Click Next.

Step 17: Confirm Choices

32. Confirmation Window:
    • Confirm your choices.
    • Click Finish.
    • Then Click Next

Step 18: Process Company Creation

33. Create Company Window:
    • Read through the notes.
    • Click Process. The company creation process will run and may take some time. Be patient.
34. Once the process is complete, you will be taken to the final window.

Step 19: Complete the Setup

35. Click Finish. You will be taken to the user security window.

Step 20: Set Up User Security

36. User Security Window:
    • Read through the notes.
    • Enter and confirm your password. Optionally, you can tick Force Strong Passwords for added security.
    • Enter the username (e.g., joe) and email address (e.g., joe@gmail.com).
    • Enter a security question (e.g., what is your name) and answer (e.g., joe).
37. Click OK.

Completion

Congratulations, you have successfully created your company file in Sage Pastel Partner!