How we make charts of accounts in Peachtree?

How we make charts of accounts in Peach tree?

Chat of account is a list of accounts which we make transactions.

First we open Peach tree accounting software and then click the maintain category and you see the following window as:

After that select the chart of accounts and the following window will appear:

Account I.D

            First we fill the account I.D of the item. Such as you filled it as 223.

Description

In this column state the name of account

Type of Account

In this column state the nature of account such as here the nature of account is Fixed Asset.

How to delete an account in Peachtree:

If we want to delete any account go the look up button:

We click on the look up button and the following window will appear:

Then we select the desired account which wants to delete. See the below picture:

After the selection of account we click on the delete button as shown below in the circle:

How to enter the opening Balances in Peachtree

When Account I.D and Description and the Account type have been filled the next step is to enter the beginning balances. For this following procedure will be followed

The above window shows the Highlighted circle of beginning Balances click this button. The following window will appear:

In this window select the time period in which you want to enter the beginning balances e.g. if you are going to enter beginning balances of first January 2012, the time period you select will be 12/1/2011 to 12/31/2011.Then click the OK button and the following window will appear:

This window will appear .In this window Assets are at the left side while liabilities at the right side .Put the amounts of accounts that you want to enter. After putting the amounts following window will appear:

The above window show that both sides are equal. Then we check that either we maintain the retained earning account through following window:

This window shows that we have maintain the retained eaning account.If we have not maintained the retained earning account then both sides not equal and the difference will be shown as trail balance.