Peachtree Accounting Unit 3 (Part 2)

1. By KereenTatham-Maye ICT Department 3 HRS Peachtree AccountingUnit 3 (Part 2)

2. Your business has a list of balances to be entered as of January 31, 2006. These will be entered into Peachtree as the chart of accounts beginning balances. These balances will update the General Ledger when saved. ACTIVITY 5 – ENTERING BEGINNING BALANCES

3. Select Maintain, Chart of Accounts. Click the Beginning Balances arrow button. Select the period From 1/1/06 through 1/31/06 on the Select Period window and click OK. Follow these steps to enter account beginning balances:

4. This is the period selected because the balances for each account are as of January 31, 2002.

5. The Chart of Accounts Beginning Balances window displays the ID, description, and type for each account. Accounts with a zero balance can remain blank. • Enter the following beginning balances. Note every account is not listed, so use caution and enter the balance for the correct account. • When finished, click OK to save the balances, then click Close. Entering Beginning Balances Cont.

6. In your exploration of Peachtree, what important Peachtree feature have you stumbled upon informally that you think is important? How similar is electronic accounting to manual accounting? Summary

7. Enter beginning balances for your company using the conventions learnt in class. NB. Save and/or Print your company information. Add this to your Peachtree Portfolio. Culminating Activity