Beginning balances
can be entered at any time for customers, vendors, employees, inventory items,
and job records. This is different from beginning balances for your chart of
accounts. Record beginning balances for customers, vendors, employees, inventory
items and job records for historical purposes. They have no bearing on your
current General Ledger. The
beginning balances are reflected in the reports such as the Accounts Receivable
Aging, Accounts Payable Aging, Item Costing, Employee (Quarterly, Yearly, etc.)
Earnings Reports.
It is important,
however, to enter the beginning balances for your chart of accounts before other
transactions are posted. If you
have posted transactions, Peachtree Accounting assumes that you are entering
adjustments to your accounts for a period in a prior year.
To enter beginning
balances for your accounts, select Chart of Accounts from the Maintain menu.
Peachtree displays the Main Chart of Accounts window.
1.
Select the Beginning Balances button.
2.
Select the period in which you want to enter beginning balances.
3.
Select OK.
4.
Click or tab to any of the blank, white cells in the grid to add an
amount.
Enter
all the beginning balances for the accounts. If necessary, you can enter a
negative amount; with a minus sign before the number.
5.
Select OK when you are through entering beginning balances.
-- by Gayle Raines, Director of Training at Baytek, an Authorized Peachtree Resource Center.