MAINTAIN OF CHARTS OF ACCOUNT

CHART OF ACCOUNTS

The Peachtree Accounting charts of accounts.

A Chart of Accounts is a way of showing a business´s financial information in such a way that it is possible to make good financial decisions based on the information that it shows. A chart of accounts is a listing of the names of the accounts that a company has identified and made available for recording transactions in its general ledger. A company has the flexibility to tailor its chart of accounts to best suit its needs, including adding accounts as needed.

Now you have setup your company in Peachtree, it is recommended to establish Chart of accounts, General Ledger Defaults and Beginning Balance if any.

To establish the charts of accounts click the Maintains menu and select “Chart of Accounts”.

Click on the “Maintain” option and than click on the  “Chart of Accounts” have many options like Close, save, delete, change Id,new, or help buttons options.

Account ID:________________ First option are here “open a list of accounts a select from”.First all fisrt option are fulfilled.

Account ID:______________ Second options are here “Previous record” and this option are fulfilled .

Account Id:_______________ Third option are here “Next record” and this option are fulfilled.

Other options are here “Account Type” and than this option are fulfilled.

Fullfill the First, Second and Third options.

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

General Ledger accounts are assigned types on the General tab of the Maintain Chart of Accounts window. Select an account type from the drop-down list (selection on the keyboard click the button on the option you select the button “tab” and select Save to save the account. The account type should be selected carefully. If you are entering a “cash in bank” account then its type will be “cash” so on.in this procedure you have done than the save the “maintain Of Chart of Accounts” on the keyboard Alt+S button to save the procedure.When the Account ID becomes in Blue color then it means your account is save in chart of account.

For checking that those accounts which is made press this look up button. 

Correction in any chart of accounts

There may be a wrong entry in either in accounts. Then we correct the entry or word in this dialogue box. If (REtained Earning) will be written. Then correction of spelling will that click on DESCRIPTION column then correct the words.

But you are save this account. Then we will click on OPEN A LIST ACCOUNTS TO SELECT FORM. Then see this account which you spelling or wrong name post of this account. Then click on this account to show in this display of picture.

After the open this account you see that spellings which we was wrote and save it. Now you want to correct this spelling. Then click on Description column and do the spelling  check and actual spelling write. Then press ALT+S to save this account.

Then again open the “OPEN A LIST ACCOUNTS TO SELECT FORM” to check this account spellings and confirm to this account that accounts is all right or not and you are fulfill the options.

If we delete any account, which we do wrong posted. And we want to delete this account which to save it. Then click on OPEN A LIST ACCOUNTS TO SELECT FORM and then double clicking on this account to want you deleted. After double clicking the account you have to open this account and in top you see to toolbar.

Click on the delete button and after click on delete button, question araise you that are you sure want to delete this record. If confirm you want to delete this column then Ok. After click on Ok your account has been deleted.