How to maintain the charts of account

Open your Peachtree software and then select the open an existing company which you have made already previously select that company and click on ok button now the Peachtree will show you the welcome page will be appears

Now you have to maintain the charts of account of the company. The first step is to click on the maintain option which will be showing in the menu bar and then the drop down list will be appear which shows the different options what you have to do is click on the chart of account which was in the 4^th option.

After clicking on the chart of accounts the new window will open and that was of maintain chart of account.

This is the picture of maintain chart of accounts in this you have to maintain the accounts by adding the journal ledger entries in it and the beginning balance if you have any. This picture shows us all the information what we have to do in it. In the menu bar the 1^st option is to close the chart of accounts and the 2^nd option is to save the detail and the 3^rd option is to delete the detail and the 4^th option is to change the id of your account and 5^th option is to add new account and 6^th option if of help option from where you can take all the information what you want.

How to enter our data in the chart of account?

First of all you have to write the account id and the description of the account and then select the account type that what type of account is.  Account id is the code by enter that code you easily find the account. In maintains of chart of accounts there is an inactive option by clicking the in active option you can block your account description.

 After saving all the information in the charts of account now you want to see the account detail click on the search button that was in front of account id. By clicking on the search id you can check the account detail and if there is any mistake you can also change it from there.

If you want to see the Accounts that you saved in the Chart of Accounts click on the “Reports” button which was in the tool bar

The drop down list will occur now click on the forth option that was the “General Ledger” the new window will open and that was of the “Select a report” in this window Double click on the “Chart of Accounts”

Now the new window will show you the Accounts, Name and detail of your company were you can see all the saved data you saved previously. This window shows you the “Account ID” “Account description” “Active” and “Account Type”

Maintain beginning balances:

After maintaining the chart of Accounts now you have to put the beginning balances in the Accounts. You can add the balances by clicking on the Maintain option that was in the tool bar and then click on the Fourth option and that was of “Chart of Accounts”

Now again the same window will open and that was of the Maintain Charts of Accounts”. Now you have to do is just Click on the “Beginning Balances” option which was in the front of the Account Type.

A window will open by the name “Select Period”. In this you have to select the period from where you want to enter the beginning balances. If you are entering data on the date 1st January, 2010 than you wouldn’t select the period “1/1/2010 through 1/31/2010” because otherwise it will become the Closing Balance of that month and here we are entering the beginning balances and the beginning balances for 1st January, 2010 will be the accounts maintained on 31st December, 2009. So we will select the period “12/1/2009 through 12/31/2009. And then click “OK” button.

After clicking on the “OK” button the new window will open and that was of “Chart of Accounts Beginning Balances”. Before entering the data we have to check that whether we have created the Retained Earning Account or not if not we must make the Retained Earning account first because without that account the software would not accept our balances. And if there is any difference present in balance sheet then it will be written in “Trail Balance”