PoojaMoolya: Created page with " {| border=1 |'''Time''' |'''Narration''' |- |00:01 | Welcome to the spoken tutorial on '''Banking and General Ledger in Front Accounting'''. |- | 0:07 | In this tutorial,..."

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{| border=1
|'''Time'''
|'''Narration'''

|-
|00:01
| Welcome to the spoken tutorial on '''Banking and General Ledger in Front Accounting'''.

|-
| 0:07
| In this tutorial,we will learn to create

'''General Ledger Classes '''

|-
|00:13
| '''General Ledger Groups ''' and

'''General Ledger Accounts '''

|-
|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 , Principles of Bookkeeping

|-
| 00:40
| And you should have already set up an organisation or '''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'''.'''

|-
| 01:01
| Open the '''browser''' and type '''localhost slash account '''and press '''Enter.'''

|-
| 01:09
| 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
| Click on '''Banking and General Ledger''' tab.

|-
| 01:27
| In the '''Maintenance''' panel we can see the options:

'''GL Accounts'''

|-
|01:33
| '''GL Account Groups''' and

'''GL Account Classes'''

|-
| 01:38
| Before we start with any transaction, we need to set the '''Charts of Accounts.'''

|-
|01:43
| The '''Charts of Accounts''' in '''FrontAccounting''' is defined by '''Type, Class, Group''' and '''Account'''.

|-
|01:50
| All '''transactions''' are charged to an '''Account, Group''' and '''Classes'''.

|-
|01:56
| These are used to group '''transactions''' for '''reporting purposes'''.

|-
| 02:00
| In '''FrontAccounting''', '''Account''' belongs to a '''Group''' and '''Group''' belongs to a '''Class'''

|-
|02:06
| It will be reflected in the '''Balance Sheet''' and '''Profit and Loss account statements''' as per the '''Account Group.'''

|-
| 02:13
| Switch back to the '''FrontAccounting''' interface.

|-
| 02:17
| The first step is to set the '''General Ledger Account Classes.'''

|-
|02:22
| Click on '''GL Account Classes '''link in the '''Maintenance''' panel.

|-
| 02:27
| Here, by default the '''Class Name '''and '''Class Type''' are defined as:

'''Assets''' , '''Liabilities''' , '''Income''' and '''Expense'''

|-
|02:38
| Also, we can see that the '''Class ID''' is set''' '''for each '''Class Type.'''

|-
| 02:44
| We need to set this '''class''' before setting the '''Account Group.'''

|-
| 02:49
| Now we will see''' '''how to add a new '''class'''.

|-
| 02:53
| In the '''Class ID''' field, type 5. The '''Class ID''' should be a unique value.

|-
| 03:00
|In the '''Class Name''' field, type '''Equity.'''

|-
| 03:04
| Click on the '''Class Type''' drop-down box.

We can see the default list: '''Assets''' , '''Liabilities''', '''Equity''', '''Income''', '''Cost of Goods Sold''' and '''Expense'''

|-
|03:21
| '''FrontAccounting''' follows this '''Class''' '''Type''' to present in the '''Balance''' '''Sheet'''.

|-
| 03:26
| Select the '''Class Type''' as '''Equity'''.

|-
| 03:29
| Click on '''Add new''' button at the bottom of the window.

|-
|03:33
| A message is displayed- ''''New account class has been added''''.

|-
| 03:38
| Here, we can see that the new '''Class “Equity”''' has been added to the third row.

|-
|03:44
| This is because, in the default '''Class Type,''' '''Equity''' is on the third hierarchy level.

|-
|03:50
| So, whenever a new '''Class''' is added, it takes the default place of that '''Class Type'''.

|-
| 03:56
| Now, let us see how to add '''GL Groups.'''

|-
|04:00
| Go to the '''Banking and General Ledger '''tab.

|-
| 04:03
| Click on the '''GL Account Groups''' link in the '''Maintenance''' panel.

|-
| 04:08
| We can see the default '''Group Name,''' which shows '''GL Account Groups''' under the '''Class'''.

|-
|04:15
| You can also see the '''Group ID''' is set according to the '''Class'''.

|-
| 04:20
| In the '''ID '''field''', '''type the new '''Group ID '''as '''12.'''

|-
|04:24
| In the '''Name''' field, I will type '''Fixed Assets '''as the '''Group Name.'''

|-
| 04:29
| The '''Group Name “Fixed Assets” '''does not belong to any '''subgroup''' that is already available.

|-
|04:35
| Hence, in the '''Subgroup''' field, keep the field as '''None.'''

|-
| 04:40
| Now, click on the '''Class '''drop-down box.

|-
|04:44
| According to the '''Charts of Accounts, Fixed Assets '''comes under the '''class''' of '''Assets.'''

So select '''Class''' as '''Assets'''.

|-
| 04:53
| To save these changes, click on '''Add new '''button at the bottom of the window.

|-
|04:59
| We can see an error message that says - '''"This account Group ID is already in use".'''

|-
| 05:06
| So a unique '''Class ID''' has to be added to each '''Group Name'''.

|-
|05:11
| Let’s change the '''Group ID '''to '''13.'''

|-
|05:15
| Click on the '''Add new '''button at the bottom of the window.

|-
| 05:19
| This time we can see a message that says - '''"New account type has been added."'''

|-
| 05:25
| The new '''Group Name '''is added randomly within the '''class “Assets”.'''

|-
|05:30
| Likewise, we can add our own '''Group Name'''.

|-
| 05:34
| Now, let us see how to add '''GL Accounts.'''

|-
|05:38
| Click on the '''Banking and General Ledger''' tab.

|-
| 05:42
| Then click on '''GL Accounts '''link in the '''Maintenance''' panel.

|-
| 05:47
| Here also we need to type a unique '''code'''. It is a mandatory field.

|-
|05:53
| In the '''Account Code '''field, I will type '''1100 '''as the code.

|-
|06:00
| You can give any code of your choice, if you wish to.

|-
| 06:04
| Click on the '''Account Name''' field.

Type the '''Account Name '''as '''"Land and Building".'''

|-
|06:11
| You can give any name of your choice.

|-
|06:14
| In the '''Account Group''' drop-down box, select the '''Account Group''' as '''Fixed Assets.'''

|-
|06:20
| The '''Account Name Land and Building''' has to come under the '''Group Fixed Assets''' as per the '''Charts of Accounts.'''

|-
| 06:28
| Next, click on the '''Account status '''drop down menu.

Select the '''status''' as '''Active.'''

|-
|06:35
| Then click on '''Add Account '''button at the bottom of the window.

|-
|06:40
| We can see the message - '''"New account has been added".'''

|-
| 06:45
| Now, click on the '''New account '''drop-down box at the top.

We can see the newly added '''Account '''here.

|-
| 06:54
| Each organisation will have their own set of '''account codes''', as shown here.

|-
| 07:00
| Likewise, by following the above steps, you can create your own '''GL Accounts'''.

|-
| 07:06
| This brings us to the end of this tutorial.

Let us summarize

|-
| 07:12
| In this tutorial, We have learnt to create

'''General Ledger Classes ''' , '''General Ledger Groups ''' and '''General Ledger Accounts '''

|-
|07:22
| As an assignment.

Create new''' GL Accounts - Cash''' and '''Capital''' with the below details . Save the changes

|-
|07:31
| Now we have set the '''Charts of Accounts''' for our '''Company '''with new '''GL Accounts'''.

|-
| 07:38
| The video at the following link summarises the Spoken Tutorial project.

Please download and watch it.

|-
| 07:46
| The''' Spoken Tutorial Project''' Team conducts workshops and gives certificates.

For more details, please write to us.

|-
| 07:55
|Please post your timed queries in this forum.

|-
|07:59
| Spoken Tutorial project is funded by MHRD, Government of India.

|-
| 08:05
| The script and video has been contributed by Spoken Tutorial team.

This is Pratik Kamble signing off. Thanks for joining.

|}

FrontAccounting-2.4.7/C2/Banking-and-General-Ledger-in-FrontAccounting/English-timed - Revision history

PoojaMoolya: Created page with " {| border=1 |'''Time''' |'''Narration''' |- |00:01 | Welcome to the spoken tutorial on '''Banking and General Ledger in Front Accounting'''. |- | 0:07 | In this tutorial,..."