how to maintain chart of accounts

How to maintain chart of account

·        To maintain a chat of account in the Peach tree first you open your existing company after opening Peach tree software.

·        Then click on maintain button and chose the option chart of account

·        Right after choosing this option that kind of screen will appear as shown in picture below

·        To insert the entries in chart of account you have put the account id the press TAB  button it shifts you in next box then give description and again press tab and shift into the next box in which we select the account type according to its nature.

·        And to save it press Alt+S.

·        After completing the first entry press tab and again revise the whole process as discussed above and one by one you complete your chart of account.

·        And then to review your all list click on report and chose the general and ledger option and click on chart of account your list will appear.

How to delete

If there is any entry which we want to delete from chart of account first we press the button right after the account id then it will appear the list of all entries we save and we chose the entry which we want to remove from our list and click on delete button.

How to make correction

If you want to correct any entry about which you think your account id is wrong then you put your curser on that entry and correct it again.

How to inactive the account?

To inactive the account your account press check on inactive option and your account in inactivated.

How to enter beginning balances?

Ø  On window there is an option of beginning balance click on that and the following window will appear

Ø  Then select the appropriate date. If you want to record the transaction of January 1^st, 2010 so the beginning balance will be December 31, 2009.if you take beginning balance January 1^st so all these transactions will be recorded at the last of January or the beginning of February. So it is necessary that we take last month as beginning balance... The ending balance of December will be the opening balance of January so this is same thing. After selecting the beginning balance click on ok. the following window will appear

Ø  Then write the balances of the account. If you want to add a new account so click on the new and the following window will appear.

Ø  Enter the account type and description and click on ok. After that the following window will appear.

Ø  The new account is added. But before choosing the beginning balance you should make retained earning account because if you want to make it on the same window so it will not be made.