MAINTAIN CHART OF ACCOUNT
When we open the Peachtree file this window will be open and
we can choose “Open an existing company”
Then this window will
be open and we can choose “MAINTAIN” on the left upper corner of the window
As shown in this window in blue colour we select “Chart of
Accounts”
A new window
will be open of maintain chart of accounts
We can enter
the Account ID where “1” is written
Where “2” is
written we can enter the Description like CASH,ACCOUNTS RECEIVABLE etc
Where “3” is
written we can select the Account Type and
click on where CIRCLE and then select the account type which match with
the description.
HOW TO ENTER BEGINNING BALANCES:
We will
build a new company and make chart of accounts in it, we click on maintain and
select option Chart of accounts this window will appear:
We can put
the Beginning Balances in this Chart of Accounts which is shown in circle and
before entering beginning balances we check that retained earnings account can
be made or not and if we don’t made it is necessary to made.
After
clicking on beginning balances this type of window will be open and we select the “Year” which is shown in
blue colour and then click on OK option
A new window
will be open we can put all the values of beginning balances and after
completing it we can check that both assets and liabilities are equal or not if
not equal we must corrected the amounts and then click on OK option on the left
upper corner of window
