In this lesson we're going to look at the information that you need to get together before you start creating your Company File. What you do during the setup of your Company File is going to depend on a couple of things. Number one, whether or not your accountant has done any Company File setup for you. If they've completely set up your file already you may not even need to worry about any of this setup. Number two, how much of your business do you want MYOB to manage. For instance, you don't have to use MYOB to track your inventory. You may not even keep inventory, or you may prefer to manage that yourself. The same thing goes with your Bank Accounts. You may not want MYOB to track them for you either. And number three, are there going to be any starting account balances; i.e., are you starting your business from scratch with zero balances, or has your business already been running for a while. In the latter case you'll probably have existing amounts that you'll need to start your Company File with. So, these are the things you'll need to think about before setting up your final Company File. However, there's nothing stopping you from creating a Practice File right now because you only need to activate the licenses of Company Files that you'll need to keep editing after 90 days, you can create as many Practice Files as you like until you're confident that you have everything right. And I recommend you do this. If you're not totally confident about everything you do when you set up a Company File just do it again. There's no substitute for practice. OK, before we wrap up this lesson and start actually creating a Company File there's one important point that I need to bring up about Company Files. This is Microsoft Windows Vista and User Account Control. User Account Control, or UAC, is a security feature in Microsoft Windows Vista. Most people know it by the Warning dialog that pops up each time you try to change something in Windows. If UAC is active, files saved in the Program Files Folder can only be opened by the Windows user who saved the files. When you create a new Company File in MYOB the default location for it is inside the Program Files Folder. So if you accept this default and UAC is active, any other person who uses that Company File later on will need to be logged into Windows with the same User Account. Now of course this won't be a problem for those people who use the same Windows Account all the time, but if you're using Vista and you have different user accounts for different people you're going to need to save your Company File in a location other than the Program Files Folder. Thankfully that's easy enough to do. We'll cover that in the next lesson when we create a new Company File. And that's it for this lesson.
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