FrontAccounting-2.4.7/C2/Journal-Entry-and-Balance-Sheet-in-FrontAccounting/English-timed
From Script | Spoken-Tutorial
| Time | Narration |
| 00:01 | Welcome to spoken tutorial on Journal Entry and Balance sheet in FrontAccounting. |
| 00:07 | In this tutorial we will learn how to
Pass a Journal Entry |
| 00:12 | See the reflection in Balance Sheet and Void a transaction |
| 00:18 | To record this tutorial, I am using
Ubuntu Linux OS version 16.04 |
| 00:26 | FrontAccounting version 2.4.7 |
| 00:30 | To practise this tutorial, you must have knowledge of:
Higher secondary commerce and accounting |
| 00:37 | Principles of Bookkeeping |
| 00:40 | And you should have already set up an Organisation/Company in FrontAccounting |
| 00:46 | If not, for relevant FrontAccounting tutorials please visit this website. |
| 00:52 | Start the XAMPP services before you begin working on FrontAccounting interface. |
| 00:58 | Let us open the FrontAccounting interface. |
| 01:02 | Open the browser and type localhost slash account and press Enter. |
| 01:10 | The login page appears. |
| 01:12 | Type the username as admin and the password.
Then click on Login button. |
| 01:20 | The FrontAccounting interface opens. |
| 01:23 | We will see how to introduce capital in the business. |
| 01:27 | The Journal Entry is Commenced business with a capital of Rs. 5,00,000. |
| 01:32 | The Entry is Cash account debit 5,00,000 To Capital Account 5,00,000
(Being Capital introduced in the business) |
| 01:41 | We will pass a Journal Entry for this. |
| 01:45 | Click on the Banking and General Ledger tab and then click on Journal Entry link. |
| 01:52 | In the Journal date field, you can see the default date is set as today. |
| 01:57 | We can also see the reference number for the transaction.
This is auto-generated. |
| 02:05 | Click on the Account Description drop-down box and select the option Cash. |
| 02:11 | Click on the Debit textbox and type the amount as Five lakhs. |
| 02:17 | To save the Debit entry, click on the Add Item button in that row. |
| 02:23 | Again, click on the Account Description drop-down box and select the option Capital. |
| 02:30 | Then, click on the Credit textbox and type the amount as Five lakhs. |
| 02:38 | To save the Credit entry, click on the Add item button in that row. |
| 02:44 | Now, click on the Memo field, for the narration of this Journal Entry. |
| 02:49 | Here, type the text- Being capital introduced in the business. |
| 02:54 | To save the entry, click on the Process Journal Entry button at the bottom of the window. |
| 03:01 | You can see the message at the top which says,
“Journal entry has been entered” |
| 03:07 | You can also see the options: View this Journal Entry , Enter New Journal Entry |
| 03:12 | Add an Attachment and Back |
| 03:17 | Let us explore these one by one. |
| 03:20 | Click on View this Journal Entry link. |
| 03:24 | A new popup window opens. |
| 03:27 | It shows the General Ledger Transaction Details that we have entered just now. |
| 03:33 | Print link is to get a print-out of this transaction for our future reference. |
| 03:39 | Click on Close link to close this window. |
| 03:43 | Now, click on the Enter New Journal Entry option. |
| 03:48 | A new page opens for the next new Journal Entry. |
| 03:52 | Pause the tutorial and do the following assignment. |
| 03:56 | Pass a Journal Entry for Goods Purchased for Rs 50,000 |
| 04:01 | The Entry is: Office furniture and Equipments Account debit
To cash Account for Rs 50,000 |
| 04:09 | Memo: Purchased Office furniture and Equipments for Rs 50,000 |
| 04:15 | Click on Process the journal entry |
| 04:19 | Now, click on the Add an Attachment link. |
| 04:23 | We can see the fields:
Transaction |
| 04:27 | Description and Attached file |
| 04:31 | Attached file is to attach any document related to Journal entry which is passed. |
| 04:38 | Let me attach a sample voucher which I have already created and saved on my computer. |
| 04:44 | Click on the Browse button and locate the folder in which the file is saved. |
| 04:51 | I'll select the Sample-Voucher.pdf file from my Desktop folder. |
| 04:57 | You can see the file attachment here now. |
| 05:01 | This voucher has been provided in the Code files link of this tutorial. |
| 05:06 | Please download and make use of the file while practising. |
| 05:11 | Then click on the Add new button. |
| 05:14 | A message appears that says: Attachment has been inserted. |
| 05:19 | Also, you can see that the uploaded file has been added to the table. |
| 05:25 | Click on Back option to go back. |
| 05:28 | Next, let us see the reflection of this Journal Entry in the Balance Sheet. |
| 05:34 | To do so, click on the Banking and General Ledger tab. |
| 05:39 | Then click on the Balance Sheet Drilldown link. |
| 05:43 | We can see the transaction is reflected here. |
| 05:47 | In the future, when we have many more journal entries, the displayed list would be longer. |
| 05:54 | Next, let us see how to void a transaction. |
| 05:58 | Click on the Setup tab.
In the Maintenance panel, click on Void a transaction link. |
| 06:06 | This option is used to delete/remove an entry. |
| 06:11 | We can see the reference number, which shows the entry. |
| 06:15 | Let’s select reference 002/2019 to void transaction. |
| 06:23 | Click on the icon in the GL column to verify the details before deleting the entry. |
| 06:30 | We can see this entry for goods purchased for Rs 50,000 for Office furniture and Equipments. |
| 06:38 | Click on the Close link at the bottom of the window. |
| 06:42 | Now, click on the icon in the Select column. |
| 06:46 | On selecting the icon, the transaction number and voiding date appears. |
| 06:52 | Click on the Void Transaction button. |
| 06:55 | It displays a message: Are you sure you want to void this transaction? This action cannot be undone. |
| 07:03 | I will click on the Proceed button. |
| 07:07 | Immediately another message appears and says:
Selected transaction has been voided. |
| 07:14 | That’s how we can void a transaction, whenever it is required. |
| 07:19 | This brings us to the end of this tutorial.
Let us summarize. |
| 07:25 | In this tutorial, we have learnt to
Pass a Journal Entry |
| 07:30 | See the reflection in Balance Sheet
Void a transaction |
| 07:35 | The video at the following link summarises the Spoken Tutorial project.
Please download and watch it |
| 07:43 | The Spoken Tutorial Project Team conducts workshops and gives certificates.
For more details, please write to us. |
| 07:51 | Please post your timed queries in this forum. |
| 07:55 | Spoken Tutorial project is funded by MHRD, Government of India. |
| 08:00 | The script and video has been contributed by Spoken Tutorial team.
This is Pratik kamble signing off. Thanks for joining. |
