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.