General Ledger Default Settings in Peachtree 2012

General Ledger Default Settings in Peachtree 2012: Video

This video shows you how to set the General Ledger Default Settings in Peachtree 2012.

General Ledger Defaults: Overview

The General Ledger records all financial information for your company. Every transaction that occurs is eventually posted to the set of accounts that make up the General Ledger. This set of accounts is called the Chart of Accounts. Here we will look at setting the defaults for the General Ledger

When you want to set the defaults for the General Ledger, you select “Maintain| Default Information| General Ledger…” from the Menu Bar to bring up the “General Ledger Defaults” window. There isn’t much to set in this window. You simply select the rounding account used by Peachtree to store rounding differences on financial statements. This account can be either a balance sheet account, or an income statement account. Typically, the “Retained Earnings” account is used. When you are done selecting a rounding account, click “OK” to set it.