How to maintain the chart of accounts
using Peachtree
In order to
maintain accounts in the file of existing company we are required to follow the
following steps:
·
At
the very first we open the Peachtree software which we have installed in our
computer.
·
After
that we open the existing company file that we have created before.
·
After
opening our company file we will select the option Maintain from the option
bar. Here we select the chart of accounts and open it as shown below
·
When
we open chart of account of the company the following window will display on
the screen.
Here we
enter the account id of our account and then we will hit the button tab to
switch to other requirement that is description of our account, and entering
the description we will again hit the button tab to move to the other
requirement, here we select the account type .
·
After
entering all the above data we will press the buttons alt+s to save it into the
chart of account of our company.
Correction in chart of accounts:
·
By
any chance if we have recorded the wrong account id , description or the
account type of any account, we can correct it bye clicking on the look up
button as shown below
And then opening the specific account that we want to correct.
·
In
order to change the account id we have to click on the change id option and then record the new account id as shown
below
·
after recording the correct information we
will save it.
·
The
important thing that should be kept in mind is that we cannot change the
recorded account if we have entered any beginning or ending inventory against
that account.
Recording of Beginning balances
In order to record beginning balances
we will click on the beginning balance key given on the chart of account table
as shown below
After we click on the beginning
balances we will select the accounting period for our transaction as shown
below
After selecting the desired period
the following window will appear
Here we will enter all the beginning
values of the accounts.
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