Setting up the Alex Baker company file  

Whatever software you choose, you will need to set up a new company. For most software it will be a straightforward process once the application has been opened. In the preferences, switch off the VAT option if possible. Use the name Jewel Gardening as a company name.   Make sure you only process the simulated transactions into this company or the results won't match up. If you are working with a business, the accountant may be able to help you set your system up.

The system you use will need to know a Year-End date before you start processing transactions. For the simulations, set this as 30 September. The year-end date is the annual cut-off date for the accounts and is central to the way the Profit & Loss reporting works. For an existing business it will already have been established. Many organisations have a year-end of 31 December (to tie in with the calendar year) or 31 March (to tie in with the tax year). The date is generally decided by the accountant and although it can be changed, it will usually be the same every year.

In order to be able to use the simulations you will need to know how to enter transactions into the software chosen. There are so many products on the market, each of which have their own ways of handling different types of transactions, that it's not possible to cover all the permutations in these notes. If you are using a free trial, you may be able to get help from the manufacturer, or if not then most software has help screens to show you how to enter different transaction types.