Difference between revisions of "FrontAccounting-2.4.7/C2/Setup-in-FrontAccounting/English"

Title Slide

Learning Objectives

• FrontAccounting interface
• Various modules in the Setup tab

Also, we will learn how to:

• Create our own organization or Company
• Setup user accounts
• Setup access permissions and
• Setup display

System Requirement

• Ubuntu Linux OS version 16.04
• FrontAccounting version 2.4.7

Pre -requisites

• Knowledge of higher secondary commerce and
• Knowledge of Accounting.

Start XAMPP service

Click on login

Recall that during installation, we had created the admin user.

Type the username as admin and password as spoken.

Then click on the Login button.

• Sales
• Purchases
• Items and Inventory
• Banking and General Ledger and
• Setup

modules in the upcoming tutorials.

This module is used for Company Setting.

Point >>'ST COMPANY PVT. LTD'>>

This is because we had given this name during installation.

However, you can change the name based on how you want it to appear in the reports.

I will keep the same name.

Scroll down.

A list of options will appear.

Since our company is in India, we will setup the home currency to Indian Rupees.

A new window appears.

Currency Name field type 'Indian Rupees'.

In the Currency Name field, type 'Indian Rupees'.

In the Hundredths Name field, type ‘Paise’ and in the Country field type 'India'.

We can see a success message- 'New currency has been added'.

For this, click on the Setup tab in the top menu and then on Company Setup link.

A-123, Highway Industrial Estate,

Andheri, Link Road, Sakinaka, Andheri(E) Mumbai - 400072

Click>> Domicile field >> India

Click>> Phone no field >>

022 25764279

Click>> E- mail Address field>>

accounting@spoken-tutorial.com

Type

37AAAPP2678Q1ZP in the Company GSTNo

• Company’s address,
• Domicile
• Phone no,
• Email address and
• Company GST number

in the respective fields as shown here.

Select ' Indian Rupees'.

Point to the fiscal year

By default the previous financial year, i,e 1^st January to 31^st December 2018 is shown as closed.

At the time of recording this tutorial, the date is as shown on the screen.

It may differ when you are practicing.

What is Fiscal year?

• It is a period that a Company uses for accounting purposes and preparing financial statements.

• It varies across countries.

Fiscal Year setup

• When a new Company is created in FrontAccounting, the Fiscal Year has to be set up correctly.

• By default, FrontAccounting software shows the fiscal year from January to December

Fiscal Year setup

• This is not suitable for Companies and organisations in India.
• We have to set up the fiscal year from 1^st April to 31^st March for that financial year.
• This is as per Indian Accounting Standards.

Why dummy period?

• the Fiscal year ie.1st January to 31st December
• and the Financial year which is from 1st April to 31st March

• the Fiscal year ie.1st January to 31st December
• and the Financial year which is from 1st April to 31st March

Show the image Sample_Fiscalyear.png (shared in the drive)

In that case, you have to set up the fiscal year for all the previous years upto the current financial year.

A sample is shown here for your understanding.

Now, click on the Add New button.

A message appears - “New Fiscal year has been added”.

Click on the Add new button

Keep the “Is closed” option to “No” as we will be using the current financial year for accounting purposes.

Again, click on the Add new button.

Point to second row

Click on Edit icon, in the Is Closed drop down menu, select Yes.

We have created the dummy period from 1^st January 2019 to 31st March 2019.

We will change the Is Closed option to Yes.

Click on Edit icon.

In the Is Closed drop down menu, select Yes.

Repeat the same steps to close all the previous financial years if they are not required.

A message appears - “Selected fiscal year has been updated”

Likewise you can use the Edit button to make changes.

Right now, we will not delete any rows.

Then click on the Company Setup link.

Select the current Financial Year as 1^st April 2019 to 31^st March 2020 which is shown as active.

We will increase to 6 lakh seconds so that frequent logout or timeout can be avoided.

Highlight the message.

• Full Name
• Email
• Access Level, etc.

Recall this information was entered during the installation. Let us create a new user login.

Likewise, enter your new user details.

Point to Default

We will keep the Default option.

We can see the message- ‘A new user has been added’.

Scroll down to show the access permission

Scroll down.

We can see the permissions available for the Sub Admin.

A message appears as “Security role has been updated”.

Likewise, you can create several users as per your requirement and give the required permissions.

• Decimal Places,
• Date format and Separators
• and other parameters.

• Prices/amounts
• Quantities
• Exchange rate and
• Percentages

We will change the Date format to DDMMYYYY.

We can see a message “Display settings have been updated”.

Go to theSetup tab.

Under Company Setup panel, click on Fiscal Years link.

We can see the date format has been changed to DDMMYYYY format.

Recall, initially when we added the fiscal year it was MMDDYYYY format.

Summary

• FrontAccounting interface and
• Various modules in the Setup tab

Also, we have learnt how to:

• Create our own organisation or Company
• Setup user accounts
• Setup access permissions and
• Setup display

Assignment

• Add a new user using User Accounts Setup
• Give Access Level as an Accountant

Acknowledgement

• The video at the following link summarises the Spoken Tutorial project.
• Please download and watch it

About workshops

For more details, please write to us.

Forum for specific questions:

Acknowledgement

More information on this mission is available at this link.