·
What is Chart
of Accounts
Chart of accounts is the list of accounts that are used to record any
transaction sufficiently.
·
How to maintain the Charts of Accounts in
Peachtree Software:
In our previous discussion we learnt that how to make a new company in Peach tree?
Now its time to make the Chart of accounts for that company,
Firstly we open a Peachtree
accounting and then click on the maintain option so the above window will be
open. After click on the maintain option then the following window will be
open.
Account
I.D.
Here we
enter the specific account Id. After
that we tell about the account discretion.
DESCRIPTION.
Description
is the states the name of account.
ACCOUNT
TYPE.
Account type
states the nature of the account.
HOW TO
DELETE AN ACCOUNT IN PEACH TREE SOFTWARE:
In order to
delete the account we click on the look up button.
We click on
the look up button and list of account will be open.
Then we
select the account which we want delete.
After the
desire account from the list for deletion we click on the delete button.
How to
enter beginning balance in Peachtree software:
KEY POINT:
Before we
enter the beginning balance we need to maintain the Retained Earning account.
Once the
account has been maintained now we will enter the begging balances.
Here we
enter the beginning balance in the software. How we can check that retained
earning account has been established or not? To view that retained earning
account exist or not just follow the following step,
There are
two ways to check that.
1: Firstly
we opened the Peachtree software and then opened your company and click on the
maintain button and the following window will be open.
Here we
select the charts of accounts and then the following window will be open.
Now here we
press the look up button
And then the
following window will be open.
Here all the
charts of accounts are showing now we check the retained earning account by
scrolling up and down.
2: The
second way is to open a Peach tree software and open your company and click on
the REPORT which is shown in the following.
Here we
select the general ledger and the following window will be open.
Here we
select the GENERAL LEDGER which is shown in the left side and after that select
the charts of accounts which is shown in the following.
After that
double click on the charts of accounts and the list of CHARTS OF ACCOUNTS will
be open, which is show in the following.
Now we are
going to enter the Beginning balances.
After
pressing the beginning balance key then the following window will be open.
Here we
select the accounting period and click on the ok button and then the following
window will be open and then we will enter the beginning data as shown.
If the trial
balance shows the zero balance its mean we maintain it properly and if the
trial balance shows any amount it’s mean we did not maintain it properly.
























