How to Maintain Chart of Accounts on Peach tree Software
First
I will open the Peach tree software where window give multiple options in these
I will one of them select which is open
an existing company following are
After
select the open an existing company we will chose the company which we already
had been build the company. So I will use his own company for maintain the
chart of accounts.. After select the company we will see
In
this window I will select the maintain on title bar. Where I chose the option
of the chart of accounts. A chart of accounts is a created lists of the accounts used by a business
entity to define each class of items
for which money or the equivalent is spent or received.
After
this step we click chart of account we will show the following window
This
show about the window of maintain chart of account. Here we have multiple
option which we will fill according to the account:
1)The
account ID determines how the account is identified and sorted in the chart of accounts
list and the General ledger account is displayed as typed in description.
2)Description
which tells about the name of account
3) Account types define how the account will be grouped in reports and
financial statements. They also control what happens during fiscal year-end
After
this I will fill the account id, description, and account type..we will see as
After
this I will press ALT+S this show that the account is save in Peach tree software
.
If
we want to look up the previous record of account which was save. We will
select 
the option this place where we can easily
change the account. After all account maintain we will go to the beginning
balance such as:
the option this place where we can easily
change the account. After all account maintain we will go to the beginning
balance such as:
Entering of beginning balance:
After
maintaining the chart of accounts we will click on beginning balance
Before
clicking on beginning balance we check that all accounts of the company
specially retained earning was entered in the Peach tree software. If forget to
entered the entry of the retained earning and I want to entered the retained
earning after press the beginning balances. Then it will be write but not
record on Peachtree. When click on beginning balance we will be select period
such are showing window:
We
have here time period which we required for maintain chart of accounts we
have the accounts of company on 1st Jan 2010 so here we chose the
previous closing period of 1st january 2010 which will be on window
showing 31st Dec 2009. If we
have balance of 31st Dec then it will be a closing balance. After
this we press the will be showing such windows are;
Here
we all amount of account type which we want to maintain. Here the Dr. and Cr.
are same which show the account are correct
.
Here
trial balance is nil.
The
square line show the net income balance such are following
Here
we also make new account which we required or forgot for instance petty cash
can be make new of account of company.
All steps are use to maintain the chart of accounts on peach tree accounting.these steps are very helpful to create the chart of account on peach tree.
