Tax ID

Enter your company's Tax ID #.  The Tax ID number prints on tax reports.

Password

(Optional) Up to a 30-character password can be selected.  If a password is not used, just press [Enter] to go to the next field. Passwords are not case sensitive. Note:  this password is for the company being set up.  Once set, the next time you enter this company code, you will be required to enter the password. Note:  With user level security turned on, you no longer have access to the password at the company level.

WARNING!

It is NOT possible to retrieve a password if forgotten.  The system never displays any passwords. To turn off the password routine once a password has been assigned, simply type in the word "No" (without quotes).  If a new password is entered, the system will verify it by asking for a re-key of the new password.

Month of First Fiscal Period

This setting translates calendar dates into the appropriate fiscal year and period.  If the new company is on a calendar year, select January for this setting.  If it’s on a Fiscal Year, enter the first month of the Fiscal Year.  

For example, if the company's accounting year is December 1 through November 30th, enter December as the first fiscal month.  

NOTE: If this setting is changed after entries have been posted, it is recommended that you Copy Company to A Different Company Code before making the change which will allow financial reports to be run based on a previous fiscal year in the copied (new) company. The system will resummarize all entries in the original company after the change is made.

Maximum Periods Per Fiscal Year

This setting is normally 12. If the company is on a four-week fiscal year (thirteenth period fiscal year), enter 13.

NOTE: If using 13 periods, then the "Month of First Fiscal Period" must also be changed to the "13 periods - 4 wks each" option.

Number of decimals for Quantity Fields

Specify # of decimals to use in the quantity field.  The default is 2.

Sub-Account Length

Designate the desired length of the Sub-Account field (6 digits (default) or 10 digits)  

If you are currently using 6 digit Sub-Account length, and want to convert to 10 digits, please watch the Pak Accounting Training Videos for the steps to convert.

Highest Posted Fiscal Year

This is a read-only display representing the highest year that has posted entries in your system.

Enable Australian GST

Select the check box to enable your Australian GST tax options. See Australian GST tax.

Net GST Tax due/owed Account

Enter the account number to book the net GST tax due/owed. See Australian GST tax