New Company Window
Follow the guidelines provided below to complete the New Company window.
The New Company window is divided into three sections:
- Company information at the top
- Setup information
- Book Defaults, Short Years, Book Overrides, Contact Information, and Notes tabs in the middle
- Database information at the bottom
Items in this window
| Item | Notes |
|---|---|
| Name (Required Field) | Use this field to type a unique name for the company you are creating (up to 32 characters). The system displays this name in the title bar of windows and reports. You can change the company name, if desired. |
| Identification Number (EIN) | Use this field to enter the EIN for the company. Enter the EIN as a 9-digit number in NN-NNNNNNN format. You must enter the first two digits, followed by a hyphen, and then enter the remaining seven digits. |
| Business Start Date (Required Field) | Use this field to indicate the start date of your company. The application displays the date in MM/DD/YYYY format. The date entered in this field cannot be later than the placed-in-service date the company’s oldest asset. For information on changing the date, see Entering Dates in Date Fields. |
| Starting System Number | Use this field to assign the starting System Number to the first asset. This field is only available until the first asset is entered in a new company. |
| Transfer By | Use this field to select the general information field you want to use to conduct the transfers of your assets. For instance, the most common type of transfer is by location. If you want to conduct transfers based on location, select the Location field here. You can only conduct transfers by the field selected in the company setup. If you need to conduct a transfer by another field at a later date, you can re-enter the company setup and change this field. |
| Round Tax Reports and Work Sheets to whole dollars | Select this check box if you want dollar amounts to print as whole dollars on tax reports (other than the Form 4562). This field does not affect dollar amounts in calculations and quick projections, because these amounts are never rounded. |
| Include Section 168 Allowance and Section 179 in expense | Select this check box if you want to include the 168 Allowance and Section 179 expense in depreciation expense for reporting purposes. If you clear this check box, the 168 Allowance and Section 179 expense deduction are stated separately on reports. |
| Show closed books in Asset Detail | Select this check box if you want closed books to display in Asset Detail. If you clear this check box, the closed books will not display in Asset Detail. |
| Unused Books | Indicates the number of books available to be added to the company. |
| [Add Book] | Select this button to add an additional book to the company. |
| Database | Use this field to select the database in which you want to store the company you are creating. You can select a database only when you first create a company. |
| [New Database] | Select this button if you want to create a new database to store the company you are creating. The New Database dialog appears. This button is available only when you first create a company. |
| [Copy Setup] | Select this button to display a window that allows you to copy the company setup information from another company to this company. |