Maintaining chart of accounts

Chart of accounts

Maintain chat of accounts

First of all open your existing company in the peach tree software. As in this process we will have our own chart of accounts, because we have clicked build your own company. So we click the Maintain menu and select chat of accounts. The following window will be showed as

Similarly for making the account following process is to be done. First of all we shall fill the blank of account ID then description and the account type after it we will press the key Alt and key S at the same time to save our account.

After this we will save all our accounts in the same way mentioned as above.

Deleting of an account

To delete an account we would select the delete option from bar after which system will ask that are you sure you want to delete this account then by pressing the “Yes” button the account will be deleted.

How to look up the accounts

For looking up the accounts we would press the look up option which is next to the account ID.After  pressing it our accounts will appear.

How to change account ID:-

To change the account ID we would select the option of “change ID” from the bar. After pressing the button our selected account will appear and we can change its ID easily.

In the report menu go the general ledger then select chart of accounts and the accounts saved can be seen there.Thus, by clicking close the window option this window would be closed.

Entering of the beginning balances
We can enter the Beginning Balances on the  tab. By selecting the Beginning Balances button.A window will appear as follows.

Select the period in which you want to enter beginning balances. You can select from previous, current, or future periods.

Select the button OK.The system will show the Chart of Accounts Beginning Balances window.

Enter all the beginning balances for the accounts.

The method of adding the new account in beginning balances

In the Beginning Balances Window, at first select the new button. The software will show the new account window.

Then enter account ID and after that account description and then select the account type and press the OK button.

Method to make the account inactive

·        First of all we should make sure that no further transactions are not required to be mentioned here.

·        From the Maintain menu, select Chart of Accounts. The software will show Maintain chart of accounts window.

Select that account which you want to make inactive. With the help of look up button existing accounts can be checked.Then click the box and a tick mark will appear in it and thus the particular account would become inactive.

                           

                                           ==================================

Setup a new company

Open Peach tree software to setup a new company record. This software gives a guide for opening a new company. In the following picture 6 easy steps have been given which are used during this process.

Step 1:-

Step 2:-

This is an introductory window for new company setup and will guide us thorough the process. We should be having the following information to go thorough this process.

Step 3:-

In this step we are required to fulfill the following blanks unless we cannot go forward with this process.

·        The files will be saved in the folder by the name of the company and every time when the file will be opened it will be open with the name of that company.

·         The blank regarding company name should be at least fulfilled to go further about this process.  

                                                                                                                                                                                                                                                                                                                                                      

Step 4:-

in this step we have to choose any one radio button out of the five radio buttons and we will select the last radio button that is to build your own company and then we will move forward.

Step 5:-

In this step two options can be seen

·        Accrual

This method is used when transactions are recorded at the time of occurrence of transaction.

·        Cash

This method is used cash is received against the revenue.

And we will select accrual method and then we will click next.

Step 6 :-

In this step two posting methods will appear

  1. Real time

 2. Batch

We will select real time method to our convinience and then we will move forward.

Step 7  :-

In this step accounting period with two options will appear out of which we will select the first option.

Step 8 :-

In this step monthly accounting periods will appear and if we are entering data at the month of march then we will write march in the first blank of second row. After it will click next.

Step 9:-

After it a congratulations will be opened and by clicking the finish button our created company will be saved.

===================