HOW TO MAINTAIN CHART OF ACCOUNTS

“CHART OF ACCOUNT”

System of accounting  records developed by every organization to be compatible with its particular financial structure, and in agreement with the amount of detail required in its financial statements. It consist  of a list of ledger account names and numbers showing classification  and sub-classification,a and serves as an index to locate a given account within the ledger.

“HOW TO MAINTAIN A CHART OF ACCOUNTS”

·        To maintain the chart of accounts we open the peachtree software  and select the option “OPEN AN EXISTING COMPANY”

·        Than click the “BROWSE” button to open another existing company.

·        Than open a company  and the Z drive n select your existing company

·        Than show welcome page to Peachtree and then go to the “MAINTAIN” option and from there select the option “CHART OF ACCOUNT” as shown below:

  

·        After clicking on the chart of account following window will be appeared. This window gives us information about to maintain the chart of accounts. Following information are : Account ID, Description, Account type,

Than we click on the search button and a list of accounts is displayed as shown below in the window

·        Now we want to delete the any account id from the list of accounts. Let assume you want to delete the petty cash accounts you will type the account id or search it by pressing the “search” option.

·        After selecting that we will select the delete option from toolbar and delete this account.

·        And if you wants to change the id we will select the option “change id” from tool bar.

·        After selecting that the following screen will appear:

·        The red circled image you can see above would appear. And here you will add your new account id.

        How we add beginning balance?

·        When you open charts of accounts through maintain option it will appear like:

·        At the rite side of charts of accounts there is an option of “BEGINNING BALANCE”. Click it will appear:

·        If giving information of charts of accounts is given like
as on 1^st January 2012, then you must chose the starting and ending month of last year.

·        By choosing the rite option of year, press OK.

·        It will appear you this chart. By adding all values given in charts of account and if the balance is equal then press OK at the left side the top.

·        This is how you entered the beginning balances.

                

                

  

          

                

                

                    Setup of new company

We want to open a new company on Peechtree and we come across following steps :

·        First we have to open a software the following window was appear which shows a 6 options.Than we selected a option of “set up of new company “

·        This window gives us a welcome message which shows some information in 5 steps which is helpful to creating a new company.we read it thoroughly and than press the “NEXT” key . After that the following window was appear.

·  This window show the introductory page  of set up of new company and show the “COMPANY INFORMATION” and than fill the following blocks to create a new company.

·        Than press the “NEXT” key for showing the further window which consist of “CHART OF ACCOUNT”n we select 1^st option “ set up of new Retail ,Services ,Construction ,Manufacturing or Distribution company, using a simplified chart of accounts”and than press the “NEXT” key for the further proceed.

The next window which show the “ACCOUNTING METHOD”and we slected the ACCRUAL and than press the “NEXT” key.

Next window which show the “POST METHOD “and we selected the option REAL TIME  and IN REAL TIME transaction are posted to the general ledger as they are entered and saved than press the NEXT key.

·        Than  this window show us the ACCOUNTING PERIOD  which mentioned the 12 monthly accounting period because company should know day to day transaction have been done.And it will show the good system of the company.

                                          

·        Whatever you choose month for your company to start , the Fiscal year , your entering month will be next to your fiscal ending year, than click “NEXT” for next window.

                                          

·        Congratulations your company has been setup.

Opening Microsoft Word Documents We'll shortly add an address to the top of our Library Complaint letter. Before we do that, we'll learn how to open a file. After all, you might have closed down Microsoft Word, or your computer might have crashed. The result being that you no longer have your library letter loaded into Word. So here's how to Open a file you have saved, and want to work on again. From the File menu, click Open: The Open dialogue box appears, and looks like the image below: The Open dialogue box looks very similar to the Save As dialogue box. "Save in", "File name", and "Files of type" work in exactly the same way as the Save As dialogue box. Notice, though that the File name text box is blank, and the Open button is not available. It has been greyed out. The reason that the Open button is greyed out, and therefore not available, is that text box is empty. Once you select a file, the Open button will be ready for us. But the text box is empty because no file has been selected. A file is selected from the larger white area in the middle. Clicking on the file once with the left hand mouse button will select a file. In the previous image, there was only one file available for selection - a document called "rrKeyCaps.doc". That is not the one we want. To locate the file we want, we need to open the folder called "My WP Projects". Because that's where we saved it. You can see from the image that this folder is in the list of folders, just below the folder called My Pictures: You can see also that we are in the folder called My Documents. To open up the folder we want, simply double click it. This will take us inside the My WP Projects: The whole Open dialogue box now looks like this: The file we want, Library Letter, has been clicked on. As a result, the Open button is no longer greyed out. We can go ahead and click it. When we do, our letter will open in Microsoft Word. To recap then on how to open a file. Do the following · Navigate to the folder where the file was saved · Click on the file to select it · Click the Open button