How to maintain the Charts of Accounts in Peachtree Software:

·     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.