FrontAccounting-2.4.7/C2/Journal-Entry-and-Balance-Sheet-in-FrontAccounting/English

Slide 1 Title Slide	Welcome to spoken tutorial on Journal Entry and Balance sheet in FrontAccounting.
Slide 2 Learning Objectives Pass a Journal Entry See the reflection in Balance Sheet and Void a transaction	We will learn how to Pass a Journal Entry See the reflection in Balance Sheet and Void a transaction
Slide 3 System Requirements Ubuntu Linux OS version 14.04 FrontAccounting version 2.3.24	To record this tutorial, I am using Ubuntu Linux OS version 16.04 FrontAccounting version 2.4.7
Slide 4 Pre -requisites To practise this tutorial, you must have knowledge of: Higher secondary commerce & accounting Principles of Bookkeeping	To practise this tutorial, you must have knowledge of: Higher secondary commerce and accounting and Principles of Bookkeeping
You should have already Set up an Organisation/Company in FrontAccounting If not, for relevant FrontAccounting tutorials please visit http://spoken-tutorial.org	And you should have already set up an Organisation/Company in FrontAccounting If not, for relevant FrontAccounting tutorials please visit this website.
Slide 5: Start XAMPP service	Start the XAMPP services before you begin working on FrontAccounting interface.
Narration	Let us open the FrontAccounting interface.
Click on browser >>localhost/account >> Press Enter	Open the browser and type localhost slash account and press Enter.
Narration	The login page appears.
Enter Username = admin and Password = spoken>> Click on login	Type the username as admin and the password. Then click on Login button.
Point to>> Frontaccounting >>	The FrontAccounting interface opens.
	We will see how to introduce capital in the business.
Slide -6 Journal Entry - Example Commenced business with a Capital Rs 5,00,000 The Entry is Cash A/c Dr. 5,00,000 To Capital A/c 5,00,000 (Being Capital introduced in business)	Commenced business with a capital of Rs. 5,00,000 The Entry is Cash A/c Dr. 5,00,000 To Capital A/c 5,00,000 (Being Capital introduced in the business)
	We will pass a Journal Entry for this.
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 link.
Point>> Date field>> Point to the journaldate	In the Journal date field, you can see the default date is set as today.
Point to Reference field	We can also see the reference number for the transaction. This is auto-generated.
Click>>Account Description drop down box>> Select the Account Description >>	Click on the Account Description drop-down box and select the option Cash.
Click>> Debit textbox>> type 5,00,000.	Click on the Debit textbox and type the amount as Five Lakhs.
Click on the Add Item button	To save the Debit entry, click on the Add Item button in that row.
Point to the Account Description box >> Select Capital	Again, click on the Account Description drop-down box and select the option Capital.
Click>> Credit textbox>> type 5,00,000.	Then, click on the Credit textbox and type the amount as Five Lakhs.
Click on the Add Item button>>	To save the Credit entry, click on the Add item button in that row.
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>>	To save the entry, click on the Process Journal Entry button at the bottom of the window.
Point to the green colour message bar>>	You can see the message at the top which says, “Journal Entry has been entered”
Point to the options >>	You can also see the options: View this Journal Entry Enter New Journal Entry Add an Attachment and Back
Click>>View this Journal Entry Narration	Let us explore these one by one. Click on View this Journal Entry link. A new popup window opens. It shows the General Ledger Transaction Details that we have entered just now.
Point to Print and Close option Narration	Print option is to get a print-out of this transaction for our future reference.
Point to Close option	Click on Close link to close this window.
Click>>Enter New Journal Entry New window opens for the Journal Entry	Now, click on the Enter New Journal Entry option. A new page opens for the next new Journal Entry.
Slide 7 Assignment 1 Pass a Journal EntryGoods Purchased for Rs 50,000 Office furniture and Equipments (Capital Assets) A/c Dr. To cash(Current Assets) A/c for Rs 50,000	Pause the tutorial and do the following assignment Pass a Journal Entry for Goods Purchased for Rs 50,000 The Entry is: Office furniture and Equipments (Capital Assets) A/c Dr. To cash(Current Assets) A/c for Rs 50,000 Memo: Purchased Office furniture and Equipments for Rs 50,000 Click on Process the journal entry
Click>>Add an Attachment	Now, click on the Add an Attachment link.
Point to the menu bar>> Attachment	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.
Narration	Let me attach a sample voucher which I have already created and saved on my computer.
Click on the Attached file text box	Click on the Browse button and locate the folder in which the file is saved.
Point to the Sample-Voucher file	I'll select the Sample-Voucher.pdf file from my Desktop folder.
Point to the Browse text box and the file attachment	You can see the file attachment here now.
Text box	This voucher has been provided in the Code files link of this tutorial. Please download and make use of the file while practising.
Click on Add new button.	Then click on the Add new button.
Show the message which appears in green Point to the message bar	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>>
Click>> Back option	Click on Back option to go back.
Narration	Next, 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 link.
Point to Current Assets	We can see the transaction is reflected here.
Point to the Assets and Liabilities Narration	In the future, when we have many more journal entries, the displayed list would be longer. <<PAUSE>>
Narration	Next, let us see how to Void a transaction.
Click>> Setup tab>> Click>> Void a transaction>>	Click on the Setup tab. In the Maintenance panel, click on Void a transaction link.
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 002/2019	Let’s select reference 002/2019 to void transaction. Click on the icon in the GL column to verify the details before deleting the entry. We can see this entry for Goods Purchased for Rs 50,000 for Office furniture and Equipments. Click on the Close link at the bottom of the window.
Point to the select icon	Now, click on the icon in the Select column.
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	It displays a message, 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 can void a transaction, whenever it is required.
Narration	This brings us to the end of this tutorial. Let us summarize.
Slide 8: Summary We learnt to : Pass a Journal Entry See the reflection in Balance Sheet Void a transaction	We have learnt Pass a Journal Entry See the reflection in Balance Sheet Void a transaction
Slide 9: Acknowledgement	* The video at the following link summarises the Spoken Tutorial project. Please download and watch it
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Slide 12: Acknowledgement	Spoken Tutorial project is funded by NMEICT, MHRD, Government of India. More information on this mission is available at this link.
Previous slide	The script and video has been contributed by Spoken Tutorial team. This is Pratik kamble signing off. Thanks for joining.

Contributors and Content Editors

Nancyvarkey, Nirmala Venkat