I am a new student of the COBOL Programming language and I have been assigned a Project on building
an Accounting system which consists of the Charts of Accounts , Transactions File , Debtors Ledger
and Creditors Ledger.

So, I need all you guys out there who are expert in this language to help me by providing me any
Tips on creating it and what is the most important thing while building the system. Please help !

note : I am given the time until this October and I would be bothering u guys for a while :)

Thanx in advance

I would be glad to help, I write, modify, maintain and support accounting
systems in COBOL.  
But could you be be more specific.  What have you done?  Do you have more
specific specifications?

The basic format in most accounting systems is, there are at least 3
master files, a customer file that contains customer name address, terms,
etc.  A vendor file that contain vendor (what I think your calling debtor)
information about vendors (people you will buy from). And the General
ledger master file, this will contain account number, there type ie
Expense, cost of good, Income , etc.  Then there will be transaction files
that will contain the invoice and payments, the payable transactions that
will also contain invoices and payments.  And of course the G/L
transaction which will contain the account number the amount, date,
accounting period etc.

The one tip is would be to define what you need to see in the files.  This
definition is crutial. Once you have defined on paper what you want/need
to see in the files and then as important how do I need to get this
information, that is how do I want to access these record or what order to
list them.  Once this is done, data file definitions can be created, then
programs to accept the data and post the different transactions can be
written.  BUT THE DEFINITION(better know as systems design and flow
charts) IS THE KEY.  

Hope this breif overview helps

Paul

Given the number of off the shelf Accounting Systems available ... which,
BTW, are capable of 'accounting' for some of the Worlds Largest Corporations,
Fin Ins., Non-Prof, etc ....

I would suggest quickly finding out what about your client is so markedly
different from the 'classic accounting' that the above CANNOT be used ... and
while you're at it, keep your resume updated.

Get your hands on some existing Accounting Software CODE ... who cares what
language ... don't waste too much time redesigning this 'old wheel'.