Warning Message Display on the Screen

[hannah]

I received the following message when I tried to open & use PT accounting software.
" Peachtree has detected that you are approaching the end of your second open payroll tax year or open fiscal year. Before you can enter data in future accounting periods, you will have to close the first open payroll tax year, the first open fiscal year, or both.

Would you like to use the Year-End Wizard now?"

What should I need to do about this?

Can I still using my current 2004 PT aomplete accounting sw?
Also, I have bought an upgrade version of 2007 PT complete accounting software package but I still have install it yet. Should I install this over 2004 PT compete accounting now? or I can wait still the end of year?

Thank you for any advices,

Hannah

[SMC]

Regarding the upgrade, you can install it before or after closing your year. Just remember, since Peachtree is dropping support for version 2004, you won't be able to install 2007 tax tables until you have installed your version 2007 upgrade.

The Year End Wizard will walk you through closing the first of your 2 open fiscal years (presumably that will be 2005). It is not a difficult process. Just make sure you have entered all of your final adjustments to 2005 and printed 2005 year end reports before running the wizard. Because once the year is closed you can't make changes to it. After running the wizard, 2006 will become periods 1-12 and 2007 will be periods 13-24.

[hannah]

Thanks!

What are the reports that I need to print for 2005 year end reports? If so, Is this under Reports?

Hannah

[jriehl]

Hannah,

Peachtree only allows you to have 2 years open at a time. So when you run the year end wizard you will lose access to your oldest year (2005?).

what I would suggest you do is to make a backup prior to running the year end wizard. Then after you've done the year end procedure, restore that backup but specify NEW COMPANY in the restore wizard. Next go into Maintain>> Company Information and add the year closed to the company name (i.e. "MyCompany2005")

Now when you start PT or when you go to File>>Open Company, you should see your current company name and also the older company that you restored and renamed "MyCompany2005". When you open the renamed company file you will see the new name at the top of the screen.

The company name that does not contain a year is always the current active file.

If you have trouble with getting the companies mixed up you can add the year (2005) to the end of your password. This will prevent accidental opening of the wrong company file.

[hannah]

I run the back up earlier today but I was accident run another back up in the same name and in the middle it freeze so I have to close my computer. But when I open the peachtree sw but I don't see my company there. How can I restore my back up company today?

[jriehl]

Have you tried File>>Open Company? You may need to navigate to the folder were your PT files are kept.

If you are unable to find the company, you will need to open a new company and the restore your good backup to it. See the PT help file for more info.

[hannah]

Yes, I tried to open Company but it not there. Does this mean I have to open a new company and restore my backup?

If so, on the step of " chart of accounts" with 5 options below. Which one shoule I select?

1) Setup a new Retail, Services, Construction etc.., using a simplied chart of accounts
2) Set up a new company using an existensive chart of accrounts from one of many sample companies
3) Copy settings from an existing Peachtree Accounting Company
4)Convert a company from another accounting program
5) Build your own company
Hannah

[jriehl]

I don't think it matters which option you choose. When you restore your company from the backup it will overwrite everything.

I think your best bet is option #1

[rick Prindivill]

Open Peachtree, click on File and RESTORE, migrate to the location of the desired backup file. Select the file to be restored, and when prompted select New Company versus Replace an Existing Company. You do not have to create a new company in order to restore a Peachtree backup. However, if your older version does not provide the choice of restoring a backup as a new company, then start a new company and simply accept all of the default answers without change, since you are going to overwrite these data files with your restoration.

[LauraG]

Thanks!

What are the reports that I need to print for 2005 year end reports? If so, Is this under Reports?

Hannah

Most people print their year end Balance Sheet, Income statement, Journal Entries, payroll summaries. etc. Our Property manager prints out the entire year's detail using the General Ledger reports and gives a copy to the CPA for tax purposes.

[Lisa_p]

If you go to File, Open company and your company is not listed, that probably means your datapath was set incorrectly and your file is likely in another location. Do you know where the Peachtree files actually live on your computer/server?

I would do a search: Start, Search, All files and folders - in the file name enter company.dat and in the look in box, choose my computer.

There is a company.dat file in each peachtree company folder. Do any of the folder names look like your company? This will pull up all the sample companies too. If you find yours, note the full folder path and when you do file, open, browse to that location.

Hope this helps!

[hannah]

I have been tried to create the new company and also tried File--> restore the company and locate the folder path but not sucessfully.
However, yesterday, I had noticed the computer was reboot by itself overnight then I was tried to open the PT software, it was suprised me the company there.

I didn't know what I have been done. By the way, thanks for your helped on this matter.


Hannah