Maintain charts of accounts

Sample Charts of Accounts

First we will open the Peachtree software where window gives multiple options in these I will one of them select which is open an existing company

After select the open an existing company we will choose the company which we already had been build the company. So I will use his own company  for maintain the charts of accounts after select the company we will see.

In this window I will select the maintain  on title bar. Where I choose the option of the charts of accounts. A charts of accounts is created lists of accounts used by a business entity to define each class of items for which money or the equivalent is spent or received.

Maintain charts of Accounts

After select the maintain then we will select the charts of accounts.

The following window display.

This show about the window of maintain charts of accounts. Here we have multiple options which we will according to the account.

1)The account ID determines how the account is identified and sorted in the chart of accounts list and the General ledger account is displayed as typed in description

2)Description  which tells about the name of account

3) Account types define how the account will be grouped in reports and financial statements. They also control what happens during fiscal year-end

After this I will fill the account id, description, and account type..we will see as

After this I will press ALT+S this show that the account is save in Peachtree software

If we want to look up the previous record of account which was save. We will select  the option this place where we can easily change the account. After all account maintain we will go to the beginning balance such as:

How to enter beginning balance

After maintaining the charts of accounts we will click on beginning balance

When we are click on beginning balance show window such are

We have here time period which we required for maintain chart of accounts ….we have the accounts of company on 1^{st  Jan 2010}  . so here we chose the previous closing period of 1^stjan 2010 which will be on window showing 31^st Dec 2009.  If we have balance of 31^st Dec then it will be a closing balance. After this we press the ok will be showing such window are;

Here we all amount of account type which we want to maintain. Here the Dr. and Cr. are same which show the account are correct.

Here no trial balance is nil.

The square line show the net income balance such are following

Here we also make new account which we required or forgot for instance petty cash canbe make new of account of company.

These all are steps which are helping and maintain the charts of the company. After all these steps the company maintains the charts of accounts