Entering the Binning Ballances

Peach Tree Software

Entering the Beginning Balance

 Entering Beginning Balances

To enter the beginning balances of accounts manually open the maintain dropdown menu and click on charts of accounts. The next window will open in which we have to click the “Beginning Balance” button.

 

Select Period

This is an option in which you have to select the accounting period, this depends on which month you want to start entering data of your company for example, you want to start entering your data from 01-01-2012 then you will enter the beginning balance in the month of December, that is “From 12/01/2011 through 12/31/2011” so that it will be the closing balance of December 2011 and be the opening balance of January 2012. Select the period you desire to work on and click “Ok”.

 

Entering the Balances

Then the following wizard will appear, in this wizard you will able to see that the left hand side is for the “Assets and Expenses” while the right hand side is for “Liabilities & Equity and Income”, the balance of trial balance is given at the end as “Total”. The “Trial Balance” shows the difference between the debit and credit side. If the amount showing in the trial balance is positive then the total of debit side is greater, and if the amount of trial balance is negative then the total of credit side is greater. If the total comes Zero then the trail balance is equal.

 

Changing Any Amount

To change any figure simply click on that figure and delete it using backspace or delete button and then enter the new one, you can also edit it after saving. And the most important thing is it will not save if the amount of Retained Earning is not entered in Charts of Accounts Begging Balances.

Entering Charts of Accounts

Peachtree Software

ENTERING CHARTS OF ACCOUNT

To enter the charts of accounts manually open the existing company first then click on maintain dropdown toolbar and then click on charts of accounts option. The next window will open in which we have to type the “account ID”, “description” and “account type”.

 

Entering Chart of Account

If we want to make an account of cash, then first we have to give the Account ID like 100, 105, 101, etc, then we have to give the Description like cash in hand, cash at bank, etc. And the last one is Account type which we select form the list given by Peachtree like cash.

 

Saving the Charts of Accounts

When we enter the things in “Account ID, Description, Account Type” then we save the information regarding an account. There are two basic ways to save an Account, through mouse click on the save button which is on the top of the toolbar. This will save this particular account you have entered. When an account saves the curser will return to the “Account ID”. Then you are able to enter the other account. The second way is press “Alt + S” from your keyboard

 

Changing Account Type

Changing an account’s “Description” and “Account Type” is a easy task, simply select the account you want to change, from the “Magnifying Glass” or “Search” button. And second way is by typing an Account ID, when description appear change the Account Type and click save your new Description and Account Type is now saved.

 

Changing Account ID

Account “Description” and “Account Type” can be changed easily by just entering a new Description or the Account type and save it, but to change an Account ID, 1^st we select the account by click on “Magnifying Glass” or “Search” button or by typing the Account ID, then select the “Change ID” button on the top at toolbar, a small new window will open named as “Change Account ID”, the Current ID is hidden and we can not change it we can only write by  new ID in the dialog box named “Enter New Account ID” type the new account ID and click on “Ok”, your Account ID is now changed and saved.

 

Deleting an Account

To delete an account first we have to select the account by clicking on “Magnifying Glass” or “Search” button or by typing the Account ID, now click on “Delete” button on the top at toolbar, a small new window will open to conform that you really want to delete the selected record, click “Yes” if you want to delete an account.

Open an Existing Company

Peachtree Software

How to open an existing company?

Once you make a company in Peachtree you need not to worry to make the company again and again. When you open Peachtree Software the wizard will appear and asks you that “what you want to do?”

 

Now click on “Open an existing company” the first option in wizard to open your existing company. By clicking on it

The following wizard will open.

 

The software automatically collects all companies from different drives. As you see that the software is asking you that which of the following company you want to open from C drive or from any other drive in which the software is installed. If it isn’t exist in the drive then click on “Browse” button.

The following wizard will open.

 

Now select the drive in which you save your company e.g. c, d, e, etc. And now select the folder of the saved company. The company will not open if the other folders of that drive will not close  . And the folder should remain close of the company the drive and other folder (subfolders) must be open . Company is appearing under the companies’ blank space. Now select the company and double click on it to open. The following window will open.

 

Now you are ready to work according to your given task. It maintain your daily ledger.

Setup of a new company

Peachtree Software

Set up of a New Company

Peachtree: the software of accounting, through which a person can easily get his/her financial reports without recording transaction manually. In Peachtree a person can start, or open an existing company.

When we click on software icon the follow window will open:

Figure 1: Set up a new company

Now, first we click on “set up a new company” because we always start’s company first then do further work. After clicking on “set up a new company” the following wizard will appear, in this wizard the software tells you about five basic things.

Figure 2: Telling Basic Info

After read the following things you have to click on “Next” button to continue the work. And click on “Help” if you have some questions against these things. If you click on “Next” then,

The follow wizard will open and ask you about the detail of your company.

Figure 3: Company Information

You have to enter at least the name of the company for proceeding further. After filling the information regarding company name, address, telephone, etc click on “Next" button. If you have some problem in filling the detail then click “Help” button. By clicking on “Next",

The following wizard will open after click on “next” button.

Figure 4: Charts of Accounts

In this window the software is asking you about five different options of the charts of accounts. First we see all option then we make our own charts of accounts. Now when we select the 1^st option and click on “Next”.

The following detail will open.

Figure 5: New Company Setup-Chart of Accounts

From this wizard you select the company for your chart of account and start working on it. Now as we say that we see all the options and then start new company. So, we are clicking on “Back” to explore the other options.

When we go back the same window (Figure 4: Charts of Accounts) will appear. Now we are selecting the 2^nd option to explore more. When we select the 2^nd option and click on “Next”

The following wizard will open.

Figure 6: New Company Setup-Chart of Accounts

This wizard ask you about the existing companies charts of account from this you have to select the company and his charts of account for your company.

Now as we say that we see all the options and then start new company. So, we are clicking on “Back” to explore the other options.

When we go back the same window (Figure 4: Charts of Accounts) will appear. Now we are selecting the 3^rd option to explore more. When we select the 3^rd option and click on “Next”

The following wizard will open.

 Figure 7: New Company Setup-Chart of Accounts

This wizard offers you to copy the charts of account from an existing company and make it your charts of accounts.

Now as we say that we see all the options and then start new company. So, we are clicking on “Back” to explore the other options.

When we go back the same window (Figure 4: Charts of Accounts) will appear. Now we are selecting the 4^th option to explore more. When we select the 4^th option and click on “Next”

The following wizard will open.

Figure 8: New Company Setup-Accounting Method

This option is about “Convert a company from another accounting period”. By clicking on “Next” you can able to change your company’s accounting period.

Now as we say that we see all the options and then start new company. So, we are clicking on “Back” to explore the other options.

When we go back the same window (Figure 4: Charts of Accounts) will appear. Now we are selecting the 5^th and the last option to work on it. When we select the 5^th option and click on “Next”

The following wizard will open.

Figure 9: New Company Setup-Accounting Method

When we click this option which is “Build your own company”, the software will ask you about the accounting method to choose wither Accrual or Cash, which you select according to your business. After selecting the method click the “Next” button. After clicking on “Next”

The following wizard will open.

Figure 10: New Company Setup - Posting Method

Like accounting method, this wizard asks you about the posting method to chose which are Real Time or Batch posting method. Select one of the posting methods according to your business then click the “Next” button. After clicking on “Next”

The following wizard will open.

Figure 11: New Company Setup-Accounting Periods

Now you have to select the accounting period according to your business. After select one of the accounting periods the click the “Next” button. After clicking on “Next”

The following window will open.

Figure 12: New Company Setup-Accounting Periods

After selecting the accounting periods you have to fill monthly accounting periods. Fill your fiscal year to start, after it fill the 2^nd option which is first month of entering your data, after it enter the first year of your payroll. Press the “Next” button for moving further. After click the “Next” button

The following window will open.

Figure 13: New Company Setup-Finish

This is the last window of set up a new company, which is congratulating you for your successfully completed, the task. Now you have to click on the “Finish” button. After clicking you will be able to process your files.

After clicking the following window will appear.

Now the software is ready to work according to your given tasks. It maintain your daily ledgers you just have to enter the right amounts on right account.