Peachtree - Maintain Charts of Accounts

HOW TO MAKE CHART OF ACCOUNTS

STEP: 1

Now you have setup your company in Peachtree, it is recommended to establish Chart of accounts.   

When we are making a new company on Peachtree accounting you select the option that is build your own new company. So create your own charts of account, and for that you first click on the “maintain” which is shown above in the window.

STEP: 2

To establish the charts of accounts click maintain from the menu button and select “Charts of Accounts….” With the help of cursor we now click the chart of account heading.

STEP: 3

Now by clicking on charts of accounts, a window will open which is shown below:

STEP: 4

Here we have different set of options that includes:

1.   Account ID (This includes special numeric or alpha-numeric ID’s to be given to different set of accounts).

2.   Description (In description we type different accounts. e.g., Fixed Assets, Cash, Capital, Expense, Drawings etc).

3.     Account Type (This includes different account types which are to be assigned to respective set of accounts given in description).

STEP: 5

For Instance I made cash in bank account so I entered 105 in Account ID, Cash in bank in description and select Account type is cash after filling all three columns you will press “Alt+S” through which your cash account will be saved automatically, to assure that your account is save now you will see that after pressing “Alt+S” your cursor will automatically goes to first column which “account id” so that you can create your next account. One by one we make all accounts which are relevant to the company.

STEP: 6

When you enter all of your company accounts and your charts of account complete, then to see the list of those accounts you will click on Magnify Glass Icon, and the list page will be open in front of you which chart of accounts you are made for your company.

STEP: 7

If you mistakenly wrote wrong id of any of your account or you want to change your account due to any reason then for this, the process is that when you open the charts of account page you enter on  “Magnify Glass Icon” to open your account list, then you select the account whom you want to change your id, you will see that in this window option for “change id” is shown in light color which means you cannot select it, so for that purpose you firstly select your account so that you will select the option of change id”, Now for example if you want to change the id of petty cash then you select it:

STEP: 8

After selecting petty cash to change its id,now you can see that “Change Id” is in dark color and you select it easily.

So press it  

STEP: 9

The page which will open after selecting “Change Id” is shown below, in this you will see your previous id of petty cash in “Current Account Id” and the next option is “Enter New Account Id” in which you enter the new id which you want to write for petty cash account and then click on “OK”.

STEP: 10

If you want to delete you account then this Delete Key can help you to delete it.

STEP: 11

When you press the delete key the software asks Are you sure you want to delete this record? If you say yes the account will be deleted form your account if you say no then its not deleted.

Step: 12

In this step we enter the Beginning Balances of Chart of Accounts in your new company you have to enter the beginning balances of your accounts first you have to click the beginning balance button shown in the picture on the right side.

Step: 13

When we click on the beginning balance this window show on the screen and when we click the beginning balance we must select the ending date of last year.

Step: 14

When we build up a new company we select the date January 2010 so our beginning balance must be of 31 December 2009 as shown on the window below on the picture.

Step: 15

Then enter the all of chart of accounts along their values shown on the picture below we enter the date from the select period double click on the date then chart of accounts beginning balances come on the screen to enter the date.

Step: 16

In this picture we conclude that our assets and expenses must be equal to our liabilities, equity and income and our total of trail balance should be equally same as shown on the picture below.

Assets, expenses= liabilities, equity, income

Set up of company

Step: no: 1: Peachtree accounting

First we run the program of Peachtree and the window that was open contains the following information:

·        Open an existing company

·        Set up a new company

·        Learn about Peachtree accounting through an online tutorial

·        Explore a sample company

·        Convert from quick books or one write plus company

·        Close the window

As we have to set up a new company. So we click on the second option.

Step: no: 2: Introduction

Then we will click on set up a new company and we find the new company setup window as introduction to the company.

In this we asked about:

• ·        Company name
• ·        Company address
• ·        Chart of accounts
• ·        Accounting method
• ·        Posting  method
• ·        Accounting periods

Then after reading all information then we click the next button for next step

Step: no: 3: Company Information

After clicking on next button the next windows comes that is Company information.

In company information we have to give the name of company, address lines, city, state, zip, country in which you are running the business, telephone number, fax number, type of the business and website and email address. And click the next button again.

Step: no: 4: Chart of accounts

After writing the company information the next step we get is of chart of accounts in these we include the several methods for setting up our new company.

Chart of accounts includes some company information to setting a company

• 1.     Set up a new company which include retail, service, construction, manufacturing or distribution company of accounts.
• 2.      Use the accounts of any extensive company as sample.
• 3.     Copy the setting of any already existing Peachtree accounting program.
• 4.     Convert a company program from another accounting program
• 5.     Build your own company

By selecting any option from above  5 options then we click the next button to show our next step.

Step: no: 5: Accounting method

After moving forward the new window of accounting method will appear.

In this window Peachtree provides us two types of accounting methods to run your business

1.       Accrual

2.       Cash

If we are running our business on accrual basis then we click on the option of accrual and if business is on cash basis then we chose the option of cash.

Step: no: 6: Posting method

Posting method

There are two methods Peachtree accounting can use to process transaction.

·        Real time

·        Batch time.

Step: no: 7: Accounting periods

Accounting periods are units of time that divide your fiscal year for reporting purpose. In Peachtree accounting, you can divide the fiscal year into as many as 13 periods. Most company use monthly accounting periods (where the units match the 12 calendar months.

Step: no: 8: Monthly accounting periods

You have chosen monthly accounting periods. Peach tree accounting will automatically setup your first two fiscal years based on the information provided below.

Step: no: 9: Finish

 After clicking the next button finish window will appear that finish your set up and create your new company. You can just press the finish button and Peach tree accounting is ready for use.

Opening Microsoft Word Documents

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

OK, now that you know how to Open a file, we can start adding the address to our letter.