Difference between revisions of "FrontAccounting/C2/Banking-and-General-Ledger/English"
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'''Author: Sheetal Prabhu''' | '''Author: Sheetal Prabhu''' | ||
− | '''Keywords: GL Classes, Groups, Accounts, Journal Entry | + | '''Keywords: GL Classes, Groups, Accounts, Journal Entry, Balance sheet, void a transaction''' |
{| style="border-spacing:0;" | {| style="border-spacing:0;" | ||
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'''Title Slide''' | '''Title Slide''' | ||
− | | style="border:1pt solid #000000;padding:0.097cm;"| | + | | style="border:1pt solid #000000;padding:0.097cm;"| Welcome to this tutorial on,''' Banking and General Ledger in Front Accounting''' |
− | + | ||
− | Welcome to this tutorial on,''' Banking and General Ledger in Front Accounting''' | + | |
|- | |- | ||
− | | style="border:1pt solid #000000;padding:0.097cm;"| '''Slide Number | + | | style="border:1pt solid #000000;padding:0.097cm;"| '''Slide Number 2a''' |
'''Learning Objectives''' | '''Learning Objectives''' | ||
− | + | ||
+ | In this tutorial,we will learn to create | ||
* General Ledger Classes | * General Ledger Classes | ||
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* General Ledger Accounts | * General Ledger Accounts | ||
− | Also, we will learn : | + | | style="border:1pt solid #000000;padding:0.097cm;"| In this tutorial,we will learn to create |
+ | |||
+ | * General Ledger Classes | ||
+ | * General Ledger Groups | ||
+ | * General Ledger Accounts | ||
+ | |||
+ | |- | ||
+ | | style="border:1pt solid #000000;padding:0.097cm;"| '''Slide Number 2b''' | ||
+ | |||
+ | '''Learning Objectives''' | ||
+ | |||
+ | Also, we will learn to : | ||
* Pass a Journal Entry | * Pass a Journal Entry | ||
* See the reflection in Balance sheet | * See the reflection in Balance sheet | ||
− | * | + | * Void a transaction |
+ | |||
+ | | style="border:1pt solid #000000;padding:0.097cm;"| Also, we will learn to : | ||
+ | |||
+ | * Pass a '''Journal Entry''' | ||
+ | * See the reflection in '''Balance sheet '''and | ||
+ | * How to '''void a transaction''' | ||
|- | |- | ||
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* '''Ubuntu Linux''' OS version 14.04 | * '''Ubuntu Linux''' OS version 14.04 | ||
* '''FrontAccounting''' version 2.3.24 | * '''FrontAccounting''' version 2.3.24 | ||
+ | |||
| style="border:1pt solid #000000;padding:0.097cm;"| To record this tutorial, I am using | | style="border:1pt solid #000000;padding:0.097cm;"| To record this tutorial, I am using | ||
− | * Ubuntu Linux OS version 14.04 | + | * '''Ubuntu Linux '''OS version 14.04 |
− | * FrontAccounting version 2.3.24 | + | * '''FrontAccounting '''version 2.3.24 |
|- | |- | ||
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'''Pre -requisites''' | '''Pre -requisites''' | ||
− | |||
− | + | To practise this tutorial, you must be familiar with: | |
− | + | ||
− | + | * Principles of Book-keeping | |
+ | * Set up an '''Organisation/Company''' in '''FrontAccounting''' | ||
− | + | If not, for relevant '''FrontAccounting''' tutorials please visit http://spoken-tutorial.org | |
− | + | | style="border:1pt solid #000000;padding:0.097cm;"| To practise this tutorial, you must be familiar with: | |
− | | style="border:1pt solid #000000;padding:0.097cm;"| | + | |
+ | * Principles of Book-keeping | ||
+ | * Set-up of an '''Organisation/Company''' in '''FrontAccounting''' | ||
+ | |||
+ | If not, for relevant '''FrontAccounting''' tutorials please visit our website. | ||
|- | |- | ||
− | | style="border:1pt solid #000000;padding:0.097cm;"| | + | | style="border:1pt solid #000000;padding:0.097cm;"| Narration |
− | | style="border:1pt solid #000000;padding:0.097cm;"| | + | | style="border:1pt solid #000000;padding:0.097cm;"| Let us start by opening the''' FrontAccounting interface.''' |
− | and press''' Enter.''' | + | |- |
+ | | style="border:1pt solid #000000;padding:0.097cm;"| Click on''' browser''' >>'''localhost/account''' >> Press '''Enter''' | ||
+ | | style="border:1pt solid #000000;padding:0.097cm;"| Click on the browser, type''' localhost/account '''and press''' Enter.''' | ||
|- | |- | ||
− | | style="border:1pt solid #000000;padding:0.097cm;"| | + | | style="border:1pt solid #000000;padding:0.097cm;"| Narration |
+ | |||
| style="border:1pt solid #000000;padding:0.097cm;"| The''' login''' page appears. | | style="border:1pt solid #000000;padding:0.097cm;"| The''' login''' page appears. | ||
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|- | |- | ||
| style="border:1pt solid #000000;padding:0.097cm;"| Enter''' Username = admin '''and '''Password''' '''<nowiki>= spoken</nowiki>'''>>''' Click''' on login | | style="border:1pt solid #000000;padding:0.097cm;"| Enter''' Username = admin '''and '''Password''' '''<nowiki>= spoken</nowiki>'''>>''' Click''' on login | ||
− | | style="border:1pt solid #000000;padding:0.097cm;"| So, here type the username as''' admin''' and the password | + | | style="border:1pt solid #000000;padding:0.097cm;"| So, here type the username as''' admin''' and the password. |
Then click on''' Login''' button. | Then click on''' Login''' button. | ||
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|- | |- | ||
| style="border:1pt solid #000000;padding:0.097cm;"| '''Point to''' options of''' Banking and General Ledger''' | | style="border:1pt solid #000000;padding:0.097cm;"| '''Point to''' options of''' Banking and General Ledger''' | ||
− | | style="border:1pt solid #000000;padding:0.097cm;"| We can see various | + | | style="border:1pt solid #000000;padding:0.097cm;"| We can see various options under this tab, such as: |
− | * Payments | + | * '''Payments''' |
− | * Deposits | + | * '''Deposits''' |
− | * Journal Entry etc. | + | * '''Journal Entry''' etc. |
|- | |- | ||
− | | style="border:1pt solid #000000;padding:0.097cm;"| '''Slide 5''' | + | | style="border:1pt solid #000000;padding:0.097cm;"| Narration |
+ | | style="border:1pt solid #000000;padding:0.097cm;"| Before we start with any transaction, we need to set the '''Charts of Accounts.''' | ||
+ | |||
+ | |- | ||
+ | | style="border-top:1pt solid #000000;border-bottom:0.75pt solid #000000;border-left:1pt solid #000000;border-right:1pt solid #000000;padding:0.097cm;"| '''Slide 5''' | ||
'''Charts of Accounts''' | '''Charts of Accounts''' | ||
− | | style="border:1pt solid #000000;padding:0.097cm;"| * The''' Charts of | + | | style="border-top:1pt solid #000000;border-bottom:0.75pt solid #000000;border-left:1pt solid #000000;border-right:1pt solid #000000;padding:0.097cm;"| * The''' Charts of Accounts''' within FrontAccounting is defined by''' Type''',''' Class''',''' Group''' and''' Account'''.<br/> |
− | * All transactions are charged to an''' Account''',''' Group''',''' | + | * All '''transactions''' are charged to an''' Account''',''' Group''',''' Classes'''<br/> |
− | * | + | * These are used to group '''transactions''' for''' reporting purposes'''. |
+ | |||
+ | |- | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| '''Narration''' | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Switch back to '''FrontAccounting''' interface. | ||
|- | |- | ||
− | | style="border:1pt solid #000000;padding:0.097cm;"| Point to>>''' Maintenance''' | + | | style="border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;border-left:1pt solid #000000;border-right:0.75pt solid #000000;padding:0.097cm;"| Point to>>''' Maintenance''' bar>> |
− | + | ||
− | * '''GL | + | * '''GL Accounts''' |
* '''GL Account Groups''' | * '''GL Account Groups''' | ||
* '''GL Account Classes''' | * '''GL Account Classes''' | ||
− | in''' | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| We can see the options under '''Maintenance''' bar as: |
+ | |||
+ | * '''GL Accounts''' | ||
+ | * '''GL Account Groups''' | ||
+ | * '''GL Account Classes''' | ||
+ | in this''' '''tab'''.''' | ||
|- | |- | ||
− | | style="border:1pt solid #000000;padding:0.097cm;"| '''Slide 6''' | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to the >> '''Gl Account, Gl Groups and GL Account Classes>>''' |
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| We need to set these options. | ||
+ | |||
+ | |- | ||
+ | | style="border-top:0.75pt solid #000000;border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-right:0.75pt solid #000000;padding:0.097cm;"| '''Slide 6''' | ||
+ | |||
+ | '''Why''' '''GL Accounts, Groups''' and''' Class?''' | ||
+ | |||
+ | * '''Account''' belongs to a '''Group''' and<br/> | ||
+ | |||
+ | * '''Group''' belongs to '''Class'''<br/> | ||
+ | |||
+ | * It depends upon how to present the '''Balance''' '''Sheet '''and '''Profit and Loss A/c''' statements | ||
+ | |||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| In '''FrontAccounting''', | ||
+ | * '''Account''' belongs to a '''Group''' and<br/> | ||
− | + | * '''Group''' belongs to '''Class'''<br/> | |
− | + | ||
− | * | + | * It depends upon how to present the '''Balance''' '''Sheet''' and '''Profit and Loss A/c''' statements |
|- | |- | ||
− | | style="border:1pt solid #000000;padding:0.097cm;"| Point to>>''' GL Account Classes'''>> | + | | style="border-top:1pt solid #000000;border-bottom:0.75pt solid #000000;border-left:1pt solid #000000;border-right:0.75pt solid #000000;padding:0.097cm;"| Point to>>''' GL Account Classes'''>> |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Here, GL Accounts Classes are the initial stage that need to be set first. |
|- | |- | ||
− | | style="border | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click>> '''GL Accounts Classes'''>> |
− | | style="border-top: | + | | style="border-top:0.75pt solid #000000;border-bottom:1pt solid #000000;border-left:0.75pt solid #000000;border-right:0.75pt solid #000000;padding:0.106cm;"| Let us see the '''GL Accounts Classes.''' |
|- | |- | ||
− | | style="border:1pt solid #000000;padding:0.097cm;"| Click>>''' GL Account Classes'''>> | + | | style="border-top:0.75pt solid #000000;border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-right:1pt solid #000000;padding:0.097cm;"| Click>>''' GL Account Classes '''>> |
− | | style="border:1pt solid #000000;padding:0.097cm;"| Here, by''' | + | |
+ | Point to the Class ID and the Class type | ||
+ | | style="background-color:#ffffff;border:1pt solid #000000;padding:0.097cm;"| Here, by''' '''default the '''Class Type''' and '''Class Name''' | ||
+ | |||
+ | have been defined as: | ||
# '''Assets''' | # '''Assets''' | ||
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# '''Income''' | # '''Income''' | ||
# '''Expense''' | # '''Expense''' | ||
+ | |||
+ | Also, you can see the''' Class ID is set '''for''' '''each''' Class Type.''' | ||
|- | |- | ||
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| style="border:1pt solid #000000;padding:0.097cm;"| You will need to set this''' class''' before setting the''' Account Groups.''' | | style="border:1pt solid #000000;padding:0.097cm;"| You will need to set this''' class''' before setting the''' Account Groups.''' | ||
− | I will''' demonstrate''' | + | |
+ | I will''' demonstrate '''how to do this'''.''' | ||
|- | |- | ||
− | | style="border:1pt solid #000000;padding:0.097cm;"| Click >>'''Class ID''' field >> | + | | style="border-top:1pt solid #000000;border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-right:0.75pt solid #000000;padding:0.097cm;"| Click >>'''Class''' '''ID''' field >> |
− | | style="border:1pt solid #000000;padding:0. | + | |
+ | Type''' 5''' | ||
+ | | style="border-top:1pt solid #000000;border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;border-right:0.75pt solid #000000;padding:0.106cm;"| Here, you need to add a new''' Class ID '''that is not already there. | ||
+ | |||
+ | So, I will type''' 5 '''as''' '''the new''' Class ID.''' | ||
|- | |- | ||
| style="border:1pt solid #000000;padding:0.097cm;"| Click>>''' Class Name''' field>> | | style="border:1pt solid #000000;padding:0.097cm;"| Click>>''' Class Name''' field>> | ||
− | | style="border:1pt solid #000000;padding:0.097cm;"| | + | | style="border-top:0.75pt solid #000000;border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-right:1pt solid #000000;padding:0.097cm;"| In the '''Class''' '''Name''' field, type a new '''Class''' '''Name. '''I will type the name as '''Equity'''. |
|- | |- | ||
− | | style="border:1pt solid #000000;padding:0.097cm;"| Click>>''' Class | + | | style="border:1pt solid #000000;padding:0.097cm;"| Click>>''' Class Type field >>''' |
− | + | ||
− | + | Show the dropdown box and the options | |
+ | |||
+ | Narration | ||
+ | | style="border-top:1pt solid #000000;border-bottom:0.75pt solid #000000;border-left:1pt solid #000000;border-right:1pt solid #000000;padding:0.097cm;"| Click on the''' Class Type''' drop down box. | ||
+ | |||
+ | You can see the default list: | ||
+ | |||
+ | * '''Assets''' | ||
+ | * '''Liabilities''' | ||
+ | * '''Equity''' | ||
+ | * '''Income''' | ||
+ | * '''Cost of Goods Sold''' | ||
+ | * '''Expense''' | ||
+ | |||
+ | '''FrontAccounting''' follows this '''Class''' '''Type''' to present in the '''Balance''' '''Sheet'''. | ||
+ | |- | ||
+ | | style="border-top:1pt solid #000000;border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-right:0.75pt solid #000000;padding:0.097cm;"| Select the Class type as '''Equity''' | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Select the '''Class Type''' as '''Equity'''. | ||
|- | |- | ||
| style="border:1pt solid #000000;padding:0.097cm;"| Click>>''' Add new''' button>> | | style="border:1pt solid #000000;padding:0.097cm;"| Click>>''' Add new''' button>> | ||
− | |||
− | We can see a message appears | + | Point to the message which appears |
+ | | style="border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;border-left:1pt solid #000000;border-right:1pt solid #000000;padding:0.097cm;"| Click on '''Add new''' button. | ||
+ | |||
+ | We can see a message appears and it says- | ||
''''New account class has been added'''' | ''''New account class has been added'''' | ||
+ | |||
|- | |- | ||
− | | style="border:1pt solid #000000;padding:0.097cm;"| Point to the''' Equity status''' >> GL Account Classes | + | | style="border-top:1pt solid #000000;border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-right:0.75pt solid #000000;padding:0.097cm;"| Point to the''' Equity status''' >> GL Account Classes |
− | | style="border: | + | |
+ | Point >> Class type drop down box>> | ||
+ | |||
+ | Point >> the Panel where the Equity shows in the third level>> | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Here, you can see the new '''Class “Equity”''' has been added to the third row. | ||
+ | |||
+ | |||
+ | This is because, in the default '''Class Type,''' '''Equity''' is on the third hierarchy level. | ||
+ | |||
+ | |||
+ | So, whenever you add a new '''Class''', it takes the default place of the '''Class''' '''Type'''. | ||
|- | |- | ||
| style="border:1pt solid #000000;padding:0.097cm;"| Point to''' Banking and General Ledger tab''' | | style="border:1pt solid #000000;padding:0.097cm;"| Point to''' Banking and General Ledger tab''' | ||
− | | style="border:1pt solid #000000;padding:0.097cm;"| | + | | style="border-top:0.75pt solid #000000;border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-right:1pt solid #000000;padding:0.097cm;"| Now, let us see how to add''' GL Groups.''' |
+ | |||
+ | Go to the''' Banking and General Ledger '''tab'''.''' | ||
|- | |- | ||
− | | style="border:1pt solid #000000;padding:0.097cm;"| Click>>''' GL Groups''' | + | | style="border:1pt solid #000000;padding:0.097cm;"| Click>>''' GL Groups''' >> |
− | | style="border:1pt solid #000000;padding:0.097cm;"| Click on the''' GL Account | + | | style="border-top:1pt solid #000000;border-bottom:0.75pt solid #000000;border-left:1pt solid #000000;border-right:1pt solid #000000;padding:0.097cm;"| Click on the''' GL Account Groups'''. |
|- | |- | ||
− | | style="border:1pt solid #000000; | + | | style="border-top:1pt solid #000000;border-bottom:0.75pt solid #000000;border-left:1pt solid #000000;border-right:0.75pt solid #000000;padding:0.097cm;"| Point to the >>''' GL Group Name List''' >> |
− | + | ||
− | |||
− | + | Point to the >>'''Group ID''' list>> | |
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| We can see the default '''Group Name,''' which shows '''GL Account Groups''' under the '''Class'''. | ||
+ | |||
+ | You can also see the '''Group ID''', set according to the '''Class'''. | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| '''Narration''' |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| A unique '''Class''' '''ID''' has to be added to each '''Group''' '''Name'''. |
− | I will''' | + | |- |
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to the >>Group ID list>> | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| In the '''Group ID '''field''', '''I will type the new''' Group ID '''as''' 12.''' | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click>> Group Name field>> |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| In the '''Name''' field,''' '''I will type''' Fixed Assets '''as the''' Group Name.''' |
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| '''Click>> Subgroup of dropdown menu>>''' |
− | | style="border: | + | |
+ | |||
+ | '''Point>> Subgroup of field>>''' | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Here, I will keep this field as '''None.''' | ||
+ | |||
+ | |||
+ | This is because, the''' Group Name “Fixed Assets” '''does not belong to any '''subgroup''' that is already available. | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click>> Class dropdown box >> select''' Assets''' |
− | + | ||
− | I will select | + | |
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click on the '''Class '''drop down box. | ||
+ | |||
+ | According to the''' Charts of Accounts, Fixed Assets '''comes under the''' class''' of''' Assets.''' | ||
+ | |||
+ | Here, I will select''' Assets''' as the''' Class.''' | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click>> Add New button >> |
− | + | ||
− | |||
− | + | Point to the message which appears | |
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| To save these changes,''' '''click on '''Add new '''button'''.''' | ||
+ | |||
+ | We can see an error message that says - | ||
+ | |||
+ | '''“This account Group ID is already in use”.''' | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to the existing code 12 |
− | | style="border: | + | |
+ | |||
+ | Narration | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| This means that the''' Account Group ID 12 '''is repeated. | ||
+ | |||
+ | |||
+ | Now''', '''let us enter another number''' '''which is '''unique.''' | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Type>> '''Group ID 13'''>> |
− | | style="border: | + | |
+ | |||
+ | Click>> Add New button>> | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Let me type the '''Group ID '''as''' 13.''' | ||
+ | |||
+ | |||
+ | Click on''' Add new '''button. | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to the>> '''message bar'''>> |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| This time we can see a message that says - |
+ | |||
+ | '''“New account type has been added.”''' | ||
|- | |- | ||
− | | style="border | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| '''Point to the newly added Group Name''' |
− | + | ||
− | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| The new''' Group Name '''is added '''randomly '''within the '''class “Assets”.''' | |
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Narration |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Likewise, you can add your own '''Group Name'''. |
− | + | <nowiki><<PAUSE>></nowiki> | |
|- | |- | ||
− | | style="border | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to '''Banking and General Ledger''' tab |
− | + | ||
− | + | ||
+ | |||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Now, let us see how to add '''GL Accounts.''' | ||
+ | |||
+ | |||
+ | Click on the '''Banking and General Ledger''' tab. | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click>>'''GL Accounts''' >> |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Let us click on''' GL Accounts.''' |
+ | |||
+ | |- | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click>> '''Account Code''' field>> | ||
+ | |||
+ | |||
+ | Point to the '''Account Code''' field | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Here also, you need to type a unique '''code'''. | ||
+ | |||
− | + | In the''' Account Code '''field, I will type''' 1100 '''as the code. | |
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click>> '''Account Name''' field>> |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click on the '''Account Name''' field. |
− | + | I will type the''' Account Name '''as''' “Land and Building”.''' | |
+ | |||
+ | You can give any name of your choice. | ||
− | |||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click >> '''Account Group''' field>> |
− | | style="border: | + | |
+ | Select the '''Fixed''' '''Assets''' '''Account''' '''Group'''>> | ||
+ | |||
+ | Narration | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| In the '''Account Group''' drop down box, I will select the '''Account Group''' as '''Fixed Assets.''' | ||
+ | |||
+ | The '''Account''' '''Name''', '''Land & Building''' has to come under the '''Group Fixed Assets''' as per the '''Charts of Accounts.''' | ||
|- | |- | ||
− | | style="border | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click>> '''Account''' '''status''' field >> |
− | | style="border | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| So here, click on the '''Account status '''drop down menu. |
+ | |||
+ | Select the '''status''' as''' Active.''' | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| '''Click>> Add Account button >>''' |
+ | |||
+ | Narration | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Then click on''' Add Account '''button'''.''' | ||
+ | |||
+ | We can see the message - | ||
+ | |||
+ | '''‘New account has been added’.''' | ||
+ | |||
+ | |- | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| '''Click>>account drop down box>>''' | ||
+ | |||
+ | '''Narration''' | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Now, click on the '''New account '''dropdown box. | ||
+ | |||
+ | You can see the newly added '''Account '''here. | ||
+ | |||
+ | |- | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to the''' account code''' | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Each organisation will have their own set of '''account codes''', as shown here. | ||
+ | |||
+ | |- | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| '''Narration''' | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Likewise, by following the steps demonstrated above, you can create your own '''GL Account'''. | ||
+ | |||
+ | |- | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Narration | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Pause the tutorial here. | ||
+ | |||
+ | |- | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| '''Slide 7:''' | ||
'''Assignment 1''' | '''Assignment 1''' | ||
− | + | * Create a GLAccount Group as '''Investment''' | |
+ | * Create GLAccount as '''Bonds''', '''Debentures''' | ||
+ | * Save the changes | ||
− | * Create''' ''' | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| And do this assignment. |
− | + | ||
− | * Create''' | + | * Create a '''GL Account''' '''Group''' as '''Investment'''<br/> |
− | * Save the changes | + | |
+ | * Create 2 separate '''GL Accounts''' named '''Bonds''' and '''Debentures'''<br/> | ||
+ | |||
+ | * Save the changes | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Narration |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Now, we have set up the''' Charts of Accounts''' for our own '''Company'''. |
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| '''Slide -8''' |
− | + | ||
'''Commenced business with a Capital Rs 50,000''' | '''Commenced business with a Capital Rs 50,000''' | ||
− | Cash A/c Dr. 50,000 | + | |
+ | The Entry is | ||
+ | |||
+ | Cash A/c Dr. 50,000 | ||
To Capital A/c 50,000 | To Capital A/c 50,000 | ||
− | '''(Being Capital introduced in business | + | (Being Capital introduced in business) |
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Next, let us pass a '''Journal Entry'''. | ||
+ | |||
+ | '''Commenced business with a capital of Rs. 50,000''' | ||
+ | |||
+ | The '''Entry''' is | ||
+ | |||
+ | '''Cash A/c Dr. 50,000''' | ||
+ | |||
+ | '''To Capital A/c 50,000''' | ||
+ | |||
+ | (Being '''Capital introduced in the business''') | ||
+ | |||
|- | |- | ||
− | | style="border | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to '''Banking and General Ledger''' tab |
− | | style="border | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click on the '''Banking and General Ledger''' tab. |
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click>> '''Journal Entry '''option >> |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| And then click on '''Journal Entry'''. |
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point>> '''Date''' field>> |
− | + | ||
− | You can see that the default date is set as '''today''' | + | Point to the current date |
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Next, click on the''' Calendar icon '''of''' Date '''field'''.''' | ||
+ | |||
+ | |||
+ | You can see that the default''' date '''is set as '''today.''' | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to '''Reference''' field |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| We can see the''' reference number '''for the '''transaction '''here. |
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click>>'''Account Description''' drop down box>> |
− | + | ||
− | I will select | + | Select the Account Description >> |
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click on the '''Account Description''' drop down box. | ||
+ | |||
+ | Here, I will select the option '''Cash'''. | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click>> '''Debit''' textbox>> |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Then, click on the''' Debit '''text box''' '''and type the''' amount '''as''' 50,000.''' |
− | + | |- | |
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click on the '''Add''' '''Item''' button | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| To save the '''Debit''' entry, click on the''' Add Item '''button. | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to the '''Account''' '''Description''' box >> |
− | | style="border: | + | |
+ | Select '''Capital''' | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Again, click on the '''Account Description''' drop down box. | ||
+ | |||
+ | This time, I will select the option '''Capital'''. | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click>> '''Credit''' textbox>> |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Then, click on the '''Credit''' textbox and type the '''amount''' as''' 50,000.''' |
− | + | |- | |
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click on the Add Item button>> | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| To''' '''save''' '''the''' Credit entry, '''click on the''' Add item button. ''' | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click>> '''Memo''' field>> |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Now, click on the '''Memo''' field, for the narration of this '''Journal Entry'''. |
− | + | |- | |
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to the '''Memo''' field >> | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Here, type the text -''' Being capital introduced in the business.''' | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click>> '''Process''' '''Journal Entry''' button>> |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Then click on the '''Process Journal Entry''' button to save the entry. |
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| '''Point to the green colour message bar>>''' |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| You can see the message at the top, that appears in green - |
+ | |||
+ | '''“Journal Entry has been entered # 2”''' | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to the options >> |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| You can also see the '''options''': |
+ | |||
+ | * '''View this Journal Entry''' | ||
+ | * '''Enter New Journal Entry''' | ||
+ | * '''Add an Attachment and''' | ||
+ | * '''Back''' | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| '''Click>>View '''this''' Journal Entry''' |
− | | style="border: | + | |
+ | Narration | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Let us explore '''View this Journal Entry '''option''' '''by clicking on it. | ||
+ | |||
+ | Immediately, a new popup window opens showing the''' '''current '''General Ledger Transaction '''details. | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to''' Print '''and''' Close '''option |
− | | style="border: | + | |
+ | Narration | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| We can also see an option here - '''Print '''and''' Close.''' | ||
− | + | By choosing this option, we get a print-out of this '''transaction''' for our future reference. | |
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point''' '''to''' Close '''option |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| This '''option''' here, at the bottom right is to close this window. |
− | + | I will choose this and close this '''window'''. | |
− | + | ||
− | + | ||
− | + | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click>>Enter New Journal Entry |
− | + | ||
− | + | New window opens for the Journal Entry | |
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Now, click on the '''Enter New Journal Entry''' option. | ||
+ | |||
+ | We can see a new page opens immediately for the next new '''transaction'''. | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click>> '''Back''' option>> |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click on the''' Back '''option to go back'''.''' |
− | + | |- | |
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click>>Add an Attachment | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Now, click on the '''Add an Attachment''' option. | ||
|- | |- | ||
− | | style="border | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to the '''menu''' bar>> Attachment |
− | | style="border | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| We can see the''' fields:''' |
+ | |||
+ | * '''Transaction''' | ||
+ | * '''Description '''and | ||
+ | * '''Attached file''' | ||
+ | |||
+ | '''Attached file '''option is used to attach any documents related to the '''Journal entry''' which is passed. | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Narration |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Let''' '''me''' '''attach''' '''a''' sample voucher '''which I have already created and stored on my computer. |
− | + | For your convenience, this file has been provided in the '''Code file '''link below this video. | |
+ | |||
+ | Pls click on the link and save the file on your computer. | ||
|- | |- | ||
− | | style="border | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click on the''' Attached file''' text box |
− | | style="border | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click on the '''Browse''' button and locate the folder in which the document is stored. |
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to the '''Sample-Voucher''' file |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| I'll select the''' Sample-Voucher.odt file '''from my '''Desktop''' folder. |
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to the Browse text box and the file attachment |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| You can see the file attachment here now. |
− | + | |- | |
− | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Show the message which appears in green | |
− | + | ||
− | + | Point to the message bar | |
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Then click on the '''Add new''' button. | ||
+ | |||
+ | A message appears that says: | ||
+ | |||
+ | '''Attachment has been inserted.''' | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Narration |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Also, you can see that the uploaded file has been added to the table. |
+ | |||
+ | <nowiki><<PAUSE>></nowiki> | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Narration |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Now, let us see the reflection of this '''Journal Entry''' in the '''Balance''' '''Sheet'''. |
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to '''Banking and General Ledger''' tab |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| To do so, click on the''' Banking and General Ledger '''tab'''.''' |
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click>> '''Balance''' '''sheet''' Drilldown >> |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Then click on the '''Balance''' '''Sheet''' '''Drilldown''' option. |
− | |||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to '''Current''' '''Assets''' |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| We can see the '''transaction''' is reflected here. |
− | shows | + | '''Current Assets '''shows '''balance '''of '''50,000 (fifty thousand).''' |
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to '''Liabilities''' |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| The '''transaction''' is also reflected in '''Liabilities''' by showing the balance of '''50000 (fifty thousand).''' |
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to the''' Assets '''and''' Liabilities''' |
− | | style="border: | + | |
+ | Narration | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Since we made only one '''Journal Entry''', we see only one entry in the displayed list. | ||
+ | |||
+ | |||
+ | In the future, when we have many more '''journal''' '''entries''', the displayed list would be longer. | ||
+ | |||
+ | <nowiki><<PAUSE>></nowiki> | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Narration |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Let us now see how to '''Void a transaction'''. |
− | + | |- | |
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click>> '''Setup''' tab>> | ||
+ | |||
+ | Click>> Void a transaction>> | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click on the '''Setup''' tab, and then on the option '''Void a transaction''' under the '''Maintenance''' bar. | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Narration |
− | | style="border: | + | |
+ | Point to the reference number field>> | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| This '''option''' is used to delete/remove an '''entry'''. | ||
+ | |||
+ | We can see the reference number, which shows the entry. | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to the '''select '''icon |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click on the '''Select''' icon. |
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to the entry shown in the field |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| On selecting the icon, the transaction number and '''voiding''' date appears. |
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| '''Click >> Void Transaction '''button'''>>''' |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click on the '''Void Transaction '''button. |
− | '''Are you sure you want to void this transaction? This | + | |- |
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Point to''' message '''bar | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| A message appears that says- | ||
+ | |||
+ | '''Are you sure you want to void this transaction? This action cannot be undone.''' | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Click'''>> Proceed button>>''' |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| I’ll click on the '''Proceed''' button. |
− | + | Immediately another message appears and says- | |
− | '''Selected transaction has been voided''' | + | '''Selected transaction has been voided.''' |
+ | |||
+ | That’s how we '''void a transaction, '''whenever required'''.''' | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Narration |
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| Let us summarize. |
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| '''Slide 9 a''' |
'''Summary''' | '''Summary''' | ||
− | + | In this tutorial, we have learnt to create | |
* General Ledger Classes | * General Ledger Classes | ||
− | * General Ledger | + | * General Ledger Groups |
* General Ledger Accounts | * General Ledger Accounts | ||
+ | |||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| In this tutorial, we have learnt to create | ||
+ | |||
+ | * '''General Ledger Classes''' | ||
+ | * '''General Ledger Groups''' | ||
+ | * '''General Ledger Accounts''' | ||
+ | |||
+ | |- | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| '''Slide 9 b''' | ||
+ | |||
+ | '''Summary''' | ||
Also, we have learnt to : | Also, we have learnt to : | ||
* Pass a Journal Entry | * Pass a Journal Entry | ||
− | * See the reflection in Balance sheet | + | * See the reflection in Balance sheet |
− | * Void a transaction | + | * Void a transaction |
+ | |||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| Also, we have learnt to : | ||
+ | |||
+ | * Pass a '''Journal Entry''' | ||
+ | * See the reflection in '''Balance sheet''' and | ||
+ | * How to '''void a transaction''' | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| '''Slide 10''' |
− | + | '''Assignment 2''' | |
− | + | * Pass a Journal Entry<br/> '''Goods Purchased for Rs 50,000'''<br/> | |
+ | |||
+ | * See the reflection in Balance Sheet | ||
+ | |||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| As an '''Assignment''' | ||
+ | |||
+ | * Pass a '''Journal Entry'''<br/> '''Goods Purchased for Rs 50,000'''<br/> | ||
+ | |||
+ | * See the reflection in the '''Balance Sheet''' | ||
|- | |- | ||
− | | style="border: | + | | style="border:0.75pt solid #000000;padding:0.106cm;"| '''Slide Number 11''' |
+ | |||
+ | '''Acknowledgement''' | ||
+ | |||
+ | This video summarizes the Spoken Tutorial project | ||
+ | |||
+ | If you do not have good bandwidth, you can download and watch it. | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| '''Acknowledgement''' | ||
+ | |||
+ | This video summarizes the Spoken Tutorial project. | ||
+ | |||
+ | Please download and watch it. | ||
+ | |||
+ | |- | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| '''Slide 12''' | ||
+ | |||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| We conduct workshops using Spoken Tutorials and give Certificates. | ||
+ | |||
+ | For more information, please contact us. | ||
+ | |||
+ | |- | ||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| '''Slide 13''' | ||
+ | |||
+ | | style="border:0.75pt solid #000000;padding:0.106cm;"| The Spoken Tutorial Project is funded by NMEICT, MHRD Government of India. | ||
+ | |||
+ | This tutorial has been contributed by Sheetal Prabhu from IIT Bombay. | ||
− | + | Thank you''' '''for joining. | |
− | + | ||
− | |||
|} | |} |
Revision as of 18:16, 4 April 2016
Title of the Script : Banking and General Ledger in FrontAccounting
Author: Sheetal Prabhu
Keywords: GL Classes, Groups, Accounts, Journal Entry, Balance sheet, void a transaction
|
|
Slide Number 1
Title Slide |
Welcome to this tutorial on, Banking and General Ledger in Front Accounting |
Slide Number 2a
Learning Objectives In this tutorial,we will learn to create
|
In this tutorial,we will learn to create
|
Slide Number 2b
Learning Objectives Also, we will learn to :
|
Also, we will learn to :
|
Slide Number 3
System Requirements
|
To record this tutorial, I am using
|
Slide Number 4
Pre -requisites To practise this tutorial, you must be familiar with:
If not, for relevant FrontAccounting tutorials please visit http://spoken-tutorial.org |
To practise this tutorial, you must be familiar with:
If not, for relevant FrontAccounting tutorials please visit our website. |
Narration | Let us start by opening the FrontAccounting interface. |
Click on browser >>localhost/account >> Press Enter | Click on the browser, type localhost/account and press Enter. |
Narration | The login page appears.
Recall that during installation, we had created admin user. |
Enter Username = admin and Password = spoken>> Click on login | So, here type the username as admin and the password.
Then click on Login button. |
Point to>> Frontaccounting >> page
Click>> Banking and Ledger>> tab |
The FrontAccounting window opens.
Click on Banking and General Ledger tab. |
Point to options of Banking and General Ledger | We can see various options under this tab, such as:
|
Narration | Before we start with any transaction, we need to set the Charts of Accounts. |
Slide 5
Charts of Accounts |
* The Charts of Accounts within FrontAccounting is defined by Type, Class, Group and Account.
|
Narration | Switch back to FrontAccounting interface. |
Point to>> Maintenance bar>>
|
We can see the options under Maintenance bar as:
in this tab. |
Point to the >> Gl Account, Gl Groups and GL Account Classes>> | We need to set these options. |
Slide 6
Why GL Accounts, Groups and Class?
|
In FrontAccounting,
|
Point to>> GL Account Classes>> | Here, GL Accounts Classes are the initial stage that need to be set first. |
Click>> GL Accounts Classes>> | Let us see the GL Accounts Classes. |
Click>> GL Account Classes >>
Point to the Class ID and the Class type |
Here, by default the Class Type and Class Name
have been defined as:
Also, you can see the Class ID is set for each Class Type. |
Narration | You will need to set this class before setting the Account Groups.
|
Click >>Class ID field >>
Type 5 |
Here, you need to add a new Class ID that is not already there.
So, I will type 5 as the new Class ID. |
Click>> Class Name field>> | In the Class Name field, type a new Class Name. I will type the name as Equity. |
Click>> Class Type field >>
Show the dropdown box and the options Narration |
Click on the Class Type drop down box.
You can see the default list:
FrontAccounting follows this Class Type to present in the Balance Sheet. |
Select the Class type as Equity | Select the Class Type as Equity. |
Click>> Add new button>>
Point to the message which appears |
Click on Add new button.
We can see a message appears and it says- 'New account class has been added' |
Point to the Equity status >> GL Account Classes
Point >> Class type drop down box>> Point >> the Panel where the Equity shows in the third level>> |
Here, you can see the new Class “Equity” has been added to the third row.
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Point to Banking and General Ledger tab | Now, let us see how to add GL Groups.
Go to the Banking and General Ledger tab. |
Click>> GL Groups >> | Click on the GL Account Groups. |
Point to the >> GL Group Name List >>
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We can see the default Group Name, which shows GL Account Groups under the Class.
You can also see the Group ID, set according to the Class. |
Narration | A unique Class ID has to be added to each Group Name. |
Point to the >>Group ID list>> | In the Group ID field, I will type the new Group ID as 12. |
Click>> Group Name field>> | In the Name field, I will type Fixed Assets as the Group Name. |
Click>> Subgroup of dropdown menu>>
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Here, I will keep this field as None.
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Click>> Class dropdown box >> select Assets
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Click on the Class drop down box.
According to the Charts of Accounts, Fixed Assets comes under the class of Assets. Here, I will select Assets as the Class. |
Click>> Add New button >>
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To save these changes, click on Add new button.
We can see an error message that says - “This account Group ID is already in use”. |
Point to the existing code 12
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This means that the Account Group ID 12 is repeated.
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Type>> Group ID 13>>
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Let me type the Group ID as 13.
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Point to the>> message bar>> | This time we can see a message that says -
“New account type has been added.” |
Point to the newly added Group Name | The new Group Name is added randomly within the class “Assets”. |
Narration | Likewise, you can add your own Group Name.
<<PAUSE>> |
Point to Banking and General Ledger tab
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Now, let us see how to add GL Accounts.
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Click>>GL Accounts >> | Let us click on GL Accounts. |
Click>> Account Code field>>
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Here also, you need to type a unique code.
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Click>> Account Name field>> | Click on the Account Name field.
I will type the Account Name as “Land and Building”. You can give any name of your choice. |
Click >> Account Group field>>
Select the Fixed Assets Account Group>> Narration |
In the Account Group drop down box, I will select the Account Group as Fixed Assets.
The Account Name, Land & Building has to come under the Group Fixed Assets as per the Charts of Accounts. |
Click>> Account status field >> | So here, click on the Account status drop down menu.
Select the status as Active. |
Click>> Add Account button >>
Narration |
Then click on Add Account button.
We can see the message - ‘New account has been added’. |
Click>>account drop down box>>
Narration |
Now, click on the New account dropdown box.
You can see the newly added Account here. |
Point to the account code | Each organisation will have their own set of account codes, as shown here. |
Narration | Likewise, by following the steps demonstrated above, you can create your own GL Account. |
Narration | Pause the tutorial here. |
Slide 7:
Assignment 1
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And do this assignment.
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Narration | Now, we have set up the Charts of Accounts for our own Company. |
Slide -8
Commenced business with a Capital Rs 50,000 The Entry is Cash A/c Dr. 50,000 To Capital A/c 50,000 (Being Capital introduced in business) |
Next, let us pass a Journal Entry.
Commenced business with a capital of Rs. 50,000 The Entry is Cash A/c Dr. 50,000 To Capital A/c 50,000 (Being Capital introduced in the business) |
Point to Banking and General Ledger tab | Click on the Banking and General Ledger tab. |
Click>> Journal Entry option >> | And then click on Journal Entry. |
Point>> Date field>>
Point to the current date |
Next, click on the Calendar icon of Date field.
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Point to Reference field | We can see the reference number for the transaction here. |
Click>>Account Description drop down box>>
Select the Account Description >> |
Click on the Account Description drop down box.
Here, I will select the option Cash. |
Click>> Debit textbox>> | Then, click on the Debit text box and type the amount as 50,000. |
Click on the Add Item button | To save the Debit entry, click on the Add Item button. |
Point to the Account Description box >>
Select Capital |
Again, click on the Account Description drop down box.
This time, I will select the option Capital. |
Click>> Credit textbox>> | Then, click on the Credit textbox and type the amount as 50,000. |
Click on the Add Item button>> | To save the Credit entry, click on the Add item button. |
Click>> Memo field>> | Now, click on the Memo field, for the narration of this Journal Entry. |
Point to the Memo field >> | Here, type the text - Being capital introduced in the business. |
Click>> Process Journal Entry button>> | Then click on the Process Journal Entry button to save the entry. |
Point to the green colour message bar>> | You can see the message at the top, that appears in green -
“Journal Entry has been entered # 2” |
Point to the options >> | You can also see the options:
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Click>>View this Journal Entry
Narration |
Let us explore View this Journal Entry option by clicking on it.
Immediately, a new popup window opens showing the current General Ledger Transaction details. |
Point to Print and Close option
Narration |
We can also see an option here - Print and Close.
By choosing this option, we get a print-out of this transaction for our future reference. |
Point to Close option | This option here, at the bottom right is to close this window.
I will choose this and close this window. |
Click>>Enter New Journal Entry
New window opens for the Journal Entry |
Now, click on the Enter New Journal Entry option.
We can see a new page opens immediately for the next new transaction. |
Click>> Back option>> | Click on the Back option to go back. |
Click>>Add an Attachment | Now, click on the Add an Attachment option. |
Point to the menu bar>> Attachment | We can see the fields:
Attached file option is used to attach any documents related to the Journal entry which is passed. |
Narration | Let me attach a sample voucher which I have already created and stored on my computer.
For your convenience, this file has been provided in the Code file link below this video. Pls click on the link and save the file on your computer. |
Click on the Attached file text box | Click on the Browse button and locate the folder in which the document is stored. |
Point to the Sample-Voucher file | I'll select the Sample-Voucher.odt file from my Desktop folder. |
Point to the Browse text box and the file attachment | You can see the file attachment here now. |
Show the message which appears in green
Point to the message bar |
Then click on the Add new button.
A message appears that says: Attachment has been inserted. |
Narration | Also, you can see that the uploaded file has been added to the table.
<<PAUSE>> |
Narration | Now, let us see the reflection of this Journal Entry in the Balance Sheet. |
Point to Banking and General Ledger tab | To do so, click on the Banking and General Ledger tab. |
Click>> Balance sheet Drilldown >> | Then click on the Balance Sheet Drilldown option. |
Point to Current Assets | We can see the transaction is reflected here.
Current Assets shows balance of 50,000 (fifty thousand). |
Point to Liabilities | The transaction is also reflected in Liabilities by showing the balance of 50000 (fifty thousand). |
Point to the Assets and Liabilities
Narration |
Since we made only one Journal Entry, we see only one entry in the displayed list.
<<PAUSE>> |
Narration | Let us now see how to Void a transaction. |
Click>> Setup tab>>
Click>> Void a transaction>> |
Click on the Setup tab, and then on the option Void a transaction under the Maintenance bar. |
Narration
Point to the reference number field>> |
This option is used to delete/remove an entry.
We can see the reference number, which shows the entry. |
Point to the select icon | Click on the Select icon. |
Point to the entry shown in the field | On selecting the icon, the transaction number and voiding date appears. |
Click >> Void Transaction button>> | Click on the Void Transaction button. |
Point to message bar | A message appears that says-
Are you sure you want to void this transaction? This action cannot be undone. |
Click>> Proceed button>> | I’ll click on the Proceed button.
Immediately another message appears and says- Selected transaction has been voided. That’s how we void a transaction, whenever required. |
Narration | Let us summarize. |
Slide 9 a
Summary In this tutorial, we have learnt to create
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In this tutorial, we have learnt to create
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Slide 9 b
Summary Also, we have learnt to :
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Also, we have learnt to :
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Slide 10
Assignment 2
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As an Assignment
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Slide Number 11
Acknowledgement This video summarizes the Spoken Tutorial project If you do not have good bandwidth, you can download and watch it. |
Acknowledgement
This video summarizes the Spoken Tutorial project. Please download and watch it. |
Slide 12 | We conduct workshops using Spoken Tutorials and give Certificates.
For more information, please contact us. |
Slide 13 | The Spoken Tutorial Project is funded by NMEICT, MHRD Government of India.
This tutorial has been contributed by Sheetal Prabhu from IIT Bombay. Thank you for joining. |