MAINTAIN CHART OF ACCOUNTS

MAINTAIN CHART OF ACCOUNTS

The chart of accounts is a list of General Ledgers accounts, which are used to classify transaction information for reporting purpose.

To maintain chart of of accounts we open the Peachtree software and go to the maintain option on the top of the software and select the chart of account as shown below:

·        After clicking on the chart of accounts following window will appear:

·        This window is showing ACCOUNT ID, DESCRIPTION, ACCOUNT TYPE which we have to fill in order to record the accounts.

·        If we want to delete a ID we go to the search button as shown the in the diagram below:

·        In this window you can see a circle on a button. By clicking on this button a list of accounts will appear as shown below:

·        From this list we can select a account which we want to delete. We can delete a  account simply by clicking on the delete button as shown below:

·        And if you wants to change the id we will select the option “change id” from tool bar.

·        After selecting that the following screen will appear:

·        The red circled image you can see above would appear. And here you will add your new account id.

How we add beginning balance?          

·        When you open charts of accounts through maintain option it will appear like:

·        At the rite side of charts of accounts there is an option of “BEGINNING BALANCE”. Click it will appear:

·        If giving information of charts of accounts is given like
as on 1^st January 2012, then you must chose the starting and ending month of last year.

·        By choosing the rite option of year, press OK.

·        It will appear you this chart. By adding all values given in charts of account and if the balance is equal then press OK at the left side the top.

·        This is how you entered the beginning balances.