how to maintain chart of accounts?

How to maintain chart of accounts?

After making a company,now you will make chart of accounts of the company.

This is how your home page is.

·         Now click on “Maintain”.

·         A list will appear, click on Chart of Accounts.

·         A dialogue box will open.

·         Now give each account an account ID, description and account type.

·         After filling up, press ALT+S key to save this account.

·         All of the accounts are made by this procedure.

·         The account of retained earning is necessary for chart of accounts.

If you have made a wrong account mistakenly you can edit it by the following procedure:

·         For editing the description and account type. Click on the look up button

·         Now “double click” on the account you want to change let say its “cash at bank”. It will open and you can edit it.

·         For changing the account id. Click on the “change id button and then a dialogue box will open and you can edit the id.

For checking the accounts you have made click on the “reports” option.

After that click on “General Ledger”.

A dialogue box will appear.

·         Double Click on chart of accounts.

·         You will get all of your accounts.