Bank Capital account, Peachtree Accounting software is all most installed in middle level companies.In this lecture I am going to tell you about how to create capital and Bank Accounts in chart of Accounts. chart of accounts includes complete list of Accounts.for example Assets Accounts, Expenses, Liabilities, capital , Bank Accounts etc.
first of all we will go to the task menu then click on chart of accounts.write Bank A/c in ID and Description both,the select cash in the Item type, then save it.similarly write capital A/c in ID and in Description both in the item type select Equity doesn’t close Option.then click on the beginning balances option, a new window will open. give equal amount for both capital and bank A/c.
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There is a wide different between theoretical and practical accounting. practical accounting become very easy after technological development and launch different type of accounting software in the market.because in theoretical and manual accounting all the financial statement were prepare manually,that need high technical and have good knowledge of accounting. this work become automatic in accounting software,if you pass the transaction correctly.this peachtree software provide a lot of different reports.that is impossible to be created maually.this is due to the Technology development era.