peachtree-software peachtree complete accounting 7.0 Quick Setup Guide

Sometimes the trial balance may be out of balance. It’s a good idea to 
investigate this first and make the adjusting entries. However, if the 
reason cannot be determined, Peachtree Accounting will make a 
correcting entry to temporarily put you back into balance. When you 
select OK (with the trial balance out of balance) on the Prior Year 
Adjustments or Beginning Balances window, a message appears warning 
you that an equity account will be created (or updated) to contain the 
difference or out-of-balance amount. You can select Cancel to return to 
the window and make corrections, or OK to accept the correcting entry.

For more information on the chart of accounts and beginning balances, 
refer to the “General Ledger” chapter of the User’s Guide.

Let’s enter a new expense account and allocate a budget amount throughout 
the upcoming year.

In the Maintain Chart of Accounts window, select the New button.

In the Account ID box, type 717ØØ and press 

e. 

In the Description field, type Cellular Phone Expense and press 

e.

Select the Budgets tab.

Type 18ØØ.ØØ in any Amount field for Budget This Year. Press 

e.