How to create a new company in AcboBooks

In this lesson you will

Fill in the Create a New Company form
Choose the US or Canadian edition with the right state or province
Set the file password and save the recovery key
Find your new company on the welcome screen next time

Before you start

Install AcboBooks and start your free trial

The Create a New Company form filled in for Maple Street Bakery in Oregon

Fill in the form

On the welcome screen, click Create a new company. Everything on this form can be changed later under Company Settings, except the file password, which has its own place there.

Step 1: Enter the business details

Work down the three numbered sections of the form. Our example is a bakery in Portland, Oregon.

Business: the Company name customers know you by, the Legal name if it is different, and the month your Fiscal year starts. Most businesses use January; pick another month only if your accountant or incorporation documents say so.
Contact details: Address, Country and State (or Province / territory). The state or province is required, because it sets up your tax rates.
File password: at least 8 characters, typed twice. Show reveals what you typed.
Create Company checks the form, then asks where to save the file.

Create a New Company form with callouts on the business, contact details and file password sections and the Create Company button

Tip: As you type a street address, AcboBooks suggests matching addresses from OpenStreetMap. The note under the list explains what is sent and has a Turn off link.

Step 2: Pick the country carefully

United States sets up US dollars, sales tax, Social Security, Medicare and W-2 payroll, and 1099 slips. Canada sets up Canadian dollars, GST/HST with input tax credits, CPP, EI and provincial tax payroll, and T4 / T4A slips. The line under the address row says which one you have chosen.

With Canada chosen, the second box becomes Province / territory. Your province sets your GST/HST rates.

Contact details row with Canada chosen and Ontario as the province

Canadian edition: Choose the province where the business is registered. You can add your Business Number (BN) and payroll program account later in Company Settings.

Step 3: Save the file

After Create Company, Windows asks where to save the file. The suggested place is Public Documents › AcboBooks › Company Files, with your company name as the file name. Keep that unless you have a reason to change it. The file ends in .acbo.

Careful: Do not keep the live company file in a OneDrive, Dropbox or Google Drive folder that syncs while AcboBooks is open. The company file help article explains safer ways to use cloud storage.

Save your recovery key

Step 4: Keep the recovery key somewhere safe

Your company file is encrypted with the file password. Next, AcboBooks shows a one-time recovery key. With the small .recovery file saved beside the company file, it is the way back in if the password is ever forgotten. It is shown once.

The recovery key (blurred in this picture). Write it down or save it in a password manager.
Copy puts it on the clipboard so you can paste it into a password manager.
Tick I have saved this recovery key somewhere safe, then click Continue.

Your recovery key dialog with the key blurred, the Copy button and the confirmation checkbox

Careful: Do not keep the recovery key only on the same computer. If that computer fails, the key goes with it.

Step 5: Start in your new company

The new company opens on its home screen with everything at zero. It starts with a basic chart of accounts and one user, Admin, with no password, so AcboBooks opens it without a sign-in screen. This computer remembers the file password, so the file opens without asking here. Another computer will ask for it.

The home screen of the new Maple Street Bakery company with all balances at zero

Tip: Sharing the computer, or planning to add users? Give Admin a password in Users and roles.

Open it next time

Step 6: Use Your companies on the welcome screen

Company files you have opened on this computer are listed under Your companies, with when each was last opened and its folder.

Click a company to open it.
The ⋯ button opens more options for that file.
Open another company file… finds a file that is not on the list, such as a backup.

Welcome screen with Maple Street Bakery under Your companies, its more-options button and Open another company file

Step 7: More options for a company

The ⋯ menu has Open, Show in folder, Change or reset file password… and Remove from this list…. Removing a company from the list does not delete the file; you can open it again with Open another company file….

The more-options menu for a company: Open, Show in folder, Change or reset file password, Remove from this list

Recap

You can create a company file for a US or Canadian business.
You know the state or province sets up tax and payroll, and the fiscal year start can be changed later.
You have saved the recovery key away from the computer.
You can reopen the company from Your companies on the welcome screen.

Saved in this browser only. No account needed.

Questions

Can I have more than one company?

Yes. Each business gets its own company file. Create as many as you need; they all appear under Your companies.

I chose the wrong country or state. Do I start again?

No. Change it in Company → Company Settings. Switching country changes labels and payroll calculations from then on, not entries already made, so fix it before you enter transactions.

What if I lose the file password and the recovery key?

Licensed customers can ask for a password reset from My licences on acbobooks.com. See the file password lesson.

I am moving from QuickBooks. Should I create a company first?

Follow the Moving from QuickBooks track; it shows the best order for your situation.

Screenshots from AcboBooks 0.2.2 with the built-in sample company. Updated October 25, 2026. Your screens may differ slightly with another version or window size.

Create your company file