miantaining the chart of accounts

Maintaining charts of accounts

In this topic we learn how to maintain charts of accounts.

After you open window click on to maintain in menu bar and different options will appear.

After clicking maintain several options will appear. Then click chart of accounts as shown in the picture.

Once you click chart of accounts then this page will open.

This page allows us to write account id, description, account type.

Account id: In account id we write account identification. It could be anything number or alphabets.

Description:  In description we write account name.

Account type: In this tab we write account type (expenses, assets, liabilities etc) related to the account name. 

In this section we write beginning balances.

And then go to main menu and click maintain chart of accounts then this screen will appear.

Now in the above screen press button of beginning balance. And this small screen will appear.

After selecting period of adjustment click on to “ok” then this screen will appear.

In this screen we have to enter the balances in the fourth and the fifth column. And after that the amount of both the columns should come equal and if not then this software will adjust it automatically.

Note: before entering these opening balances one must create the account of retained earnings otherwise in the absence of the account of retained earnings your data will not be able to get save.