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1.2 Company Setup


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One of the first things to set up within Tradepoint is the Company Profile. This section will be what your Employees are assigned to and will determine how your Inventory and Accounting preferences reflect your business processes. 

Getting to the Company Profile is done through this path.

From the Tools Tab  click on the Company icon . Click the New icon in the lower left corner  to create a new Company profile. A new screen will open under the Contact Information section. Enter in your Company's contact information and then click the Divisions icon to add a new division.

Since Tradepoint allows you to have multiple companies, each with multiple Divisions if that is the structure of your organization. This way you will be able to have more than one General Ledger for each respective organization. If your company only has one division then the New division will be the only Division for your Company.

The main icons within the Divisions section that you will need to setup are shown below.

Setting up the Chart of Accounts, any relevant sales taxes, departments(if necessary), Preferences(your Chart of Accounts needs to be set up before you can complete this section), and any Inventory and Orders preferences about how you handle your Products and related processes.

Chart of Accounts-Setting up your Chart of Accounts can be done manually or though an Import(such as a Quickbooks IIF File). Please consult with your Accountant prior to or in conjunction with setting up the Chart of Accounts for your business. Going from one type of software to another is a good time to make any changes in your existing structure. However, making a change to an existing Chart of Accounts should not be done without the advice of an Accountant.

Tradepoint comes with a ledger template.The icon on the lower left of the Chart of Accounts will load the Ledger template into the Division settings.

The Accounts structure can be edited with the icons on the lower right hand side of the screen. Each field can also be edited by clicking on the field and making the adjustments using the existing properties for that field. Simply highlight the account and edit any necessary field from the chosen template you would like to adjust.

It is important to note that the structure of your General Ledger should be as complete as possible here to be able to set the rest of the Accounting Preferences within the Company Division.

Sales Taxes-Tradepoint allows you to set in the background any sales taxes based on locality, State/province or Country in the background on the basis of location where your Customers are when they purchase your Products and Services and/or your Products and Services directly.

Clicking the New Sales Tax icon in the lower right will open a new box to specify the details of the Sales Tax you have created. Save your changes when you are finished and Sales Taxes will apply based on the specifics stated in this section.

Departments-If your business includes Departments as part of its structure you can define that Department and the relevant G/L Account that is assigned to this account. Any Activity pertinent to the Department will be associated with the Specified Account set up in this section of your Company Settings.

Preferences-Accounting preferences and basic information about how your company is run can be specified within this section.

Default Accounts-Set up which Accounts within your G/L structure will determine which Accounts activity will track to as you conduct business.

Contact Management-Tradepoint can generate new Account Numbers for you for each new contact created.

Sales Figures-Basic information defining the parameters of your company's operations of the course of its fiscal year.

Product Accounting Defaults-Specific to your Inventory, these Accounts will be associated with and Inventoried Products and any non-Inventoried Billable Services you provide within the Products section of Supply Side Management.

Invoicing-These preferences will determine if you need to have your Sales Tax to be editable and if you need to be able to charge Sales tax on Shipping. When either of these Preferences are specified this functionality will be enabled as you process and ship Orders.

Inventory and Orders-Tradepoint allows you to specify which Preferences you would like to set for how you handle the day to day operations regarding your Inventory and orders.

Payroll Deductions- Establish which payroll deductions you withhold for Payroll within your Company Settings on this screen.

Processes here include automatically adjusting Inventory levels when Orders are shipped and when Invoices are generated, the Inventory Liability Account, Direct Invoicing on Orders, assigning one or more Warehouses and others. These Preferences can be adjusted after the fact should you business processes change over time.

Save your changes when you are finished and the Preferences will be set within Tradepoint to operate within the background as you run your business.

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