charts of accounts

 We open our company in Peachtree software and we see in start we have several options FILE, EDIT, MAINTAIN, TASKS, ANALYSIS, OPTIONS, REPORT, SERVICES, WINDOW, HELP. we click on maintain folder to make our companies chart of accounts.

 After clicking on MAINTAIN option we will have this options so we will click on charts of accounts.

 As we click on the charts of accounts we will have a wizard MAINTAIN charts of accounts. in this wizard we have account id, we will assign each account with a id here as cash has 105 and sales has 220 etc, we will write the account id in the account id portion then we go on to the description portion and we write the titles to it, proceeding we add account type to it then we will save it by simply pressing ALT PLUS S. The file going to save in our company’s chart of accounts.

 Now I will tell you about how we delete the wrong account id as here in the wizard above we have account id 168 for duo from officer, if it is recorded wrong as payment from officer so we can simply go to delete tab, it will reconfirm ARE U SURE YOU WANT TO DELETE then if you want to delete it click yes. The wrong account id will be deleted.

 Now if we allotted a wrong account id to any account title as account id 168 is for duo from officer but we by the conduct of mistake record it as notes payable and after immediately closing this wizard we think that we record it wrong, so we open this wizard again and change the description of it by clicking on change id tab.

 By clicking on change id tab we will have this sort of wizard that is in front of you. The CURRENT ACCCOUNT ID cannot be changed, it remains constant. we will edit in ENTER NEW ACCOUNT ID the new id and save it by clicking on  ALT PLUS S.

Now I will tell you how we will began our balences,we simply open this wizard and open charts of accounts.

 By clicking on charts of accounts we will have this sort of window in front of us. We go to beginning    balances and click it.

 We will click on the dates from which we want to record the data. After clicking on the dates we will have the following wizard in front of us.

 We will write the beginning balances in each account. (Note) first of all we will have to confirm that either we have a retained earning account or not. If we do not make so the software will not able put the remaining balance in it.

This is after completing the accounts with beginning balances