How to set up a new company

Before you begin

• Determine the start and end dates of your current fiscal year
• Determine the earliest date you’ll allow Sage 50 to process a transaction
• View our Welcome Centre 

Create a new company

1. Choose Create a new company in the Welcome Screen.
   • If you have Sage 50 Accounting open, select New Company from the File Menu
2. Follow the directions in the conversion wizard to crate your Sage 50 Accounting company.
   • If you're using the Accountant Edition, select the version of the software (Pro, Premium, Quantum)
3. Enter your company's legal name and address.
   • The province you select determines the default number and type of sales tax accounts
4. Enter your company's fiscal year start and end dates.
   • Enter the earliest date you'll allow Sage 50 Accounting to process transactions for this fiscal year

In the 'List of Accounts' step

1. Select a method for creating your list of accounts.
2. Select Next.
3. There are three options for creating your list of accounts.
   • Have Sage 50 create a list of accounts based on your business type
   • Have Sage 50 create a list of accounts from an export file
      NOTE: Select if you’re switching from QuickBooks®, Quicken®, or MYOB®, or Sage 50 export file
   • Let me build the list of accounts myself after the company is created
      NOTE: Select this option if you’ll be importing your list after the company file has been built

In the 'File Name', step7

1. Type the name and location of your company file, or select Browse to go to the location.
   • Save the file in C:\Sage for easy computer migration in the future
      CAUTION: Don't save the file in Program Files, Program Files(x86), or in a OneDrive, Dropbox, or Google Drive 
2. Select Next.
3. Click Finish.

How do I export and import company records?