Can't Make New Company
From TrueERP wiki
This has come about due to the "erpnewdb" being corrupted due to a number of reasons. Either it didn't update or is in-complete.
ERP uses this database to create new company files. It in essence makes a copy of this file to create the new file.
To fix, simply restore a backup from the current machine using a version that was working or download the latest copy from the TrueERP web site.
Use the "ERP Service Menu" to retore the file without loading ERP if need be
