How to Maintain a Chart of Accounts

How to Maintain a Chart of Accounts in Peachtree software

At that time when we made the company, while moving from Charts of accounts, we selected the option of “Build your own company” so this is the right cause, why we are maintaining or building the company’s charts of accounts.

To maintain Chart of accounts of any new company,

Open your existing company and just move your curser right to top of you Peachtree software and click on the third option that in “Maintain” and select 4^thoption that is “Chart of Accounts” like the following window:

 When you will do so the next window will be appear:

Now we are discuss that what is:

• ·         Account ID
• ·         Description
• ·         Account Type

When you have filled all now it’s time to save your account by just press “Alt + S" to save the data.

Say, you have built an account that is wrong may be the ACCOUNT ID, DESCRIPTION or the ACCOUNT TYPE and now you want to make it correct.

For this you have to move your curser to “LOOK UP”     button that looks like the following picture

Just click on this button and select the desire account that you have made incorrect.

Here you can see all the accounts that you made, now just select the desired account for example, we select “100” that we made earlier. Since you are thinking that the selected account is 100 and in Account ID 110 is being shown, to proper selection DOUBLE CLICK on desired account when you do so your account will be selected like the following window,

Here you can modify your account, since if you made an account double ID and you want to delete that account just select that account and click on delete button  

  .

How to Maintain Beginning Balances

After the setup of a company at Peachtree you’ve to ascertain Chart of Accounts, General Ledger Defaults and beginning balances.  Now to ascertain Chart of Accounts click “MAINTAINS” and then select “Chart of Accounts”

Here a window will appear where you’ve to give an id, description and an Account type.

Select the Beginning balances Button. Peachtree shows a Select period window.

Select the period in which you’ve to enter the Beginning Balances.

Select OK. Peachtree shows the Chart of Accounts Beginning balances window.

Click to any white bar and type the amounts relatively. Enter all the beginning balances and make sure they would be correct and you did not left out with any account.

How to add a new Account in Beginning Balances:

Whenever you want to add a new account go to Maintain Chart of Accounts window and select New Button, Enter new account id, Description, account type and press OK.

How to Delete an Account from the Chart of Accounts:

If an account has a nonzero balance then you can enter an adjusting transaction to the General Journal to bring accounts balance to zero.

How to maintain the account stationary:

Select an account which you to make immobile and click on a look up button