Sage $50$ Assignment

You are required to carry out the following in Sage $50$ and briefly describe the step$-$by$-$step process:

Create a new company: ABC Enterprises, under the category of a generic company. Input company address and other details. The fiscal year starts from $1-$July, $2024.$ No earlier dated transactions are to be allowed to be entered in the system.

Create the following accounts:

Cash for ABC Enterprises

Capital of the Owner

A$/$P to the vehicle dealer

ABC Inventory

ABC Wages & Salaries

Post the following transactions in the General Journal:

Owner's investment of $1,000,000$

Purchased Vehicle for $40,000$

Purchased inventory of $4,000$ bulbs for $20,000$ on cash

Sold $100$ bulbs for $$1,000$

Paid Salary of $$1,000$ to the staff