FrontAccounting/C2/Banking-and-General-Ledger/English

Title of the Script : Banking and General Ledger in FrontAccounting

Author: Sheetal Prabhu

Keywords: GL Classes, Groups, Accounts, Journal Entry, Payment, Deposit, Balance sheet

Visual Cue	Narration
Slide Number 1 Title Slide	Hello everyone, Welcome to this tutorial on, Banking and General Ledger in Front Accounting
Slide Number 2 Learning Objectives	In this tutorial,we will learn how to create General Ledger Classes General Ledger Groups General Ledger Accounts Also, we will learn : Pass a Journal Entry See the reflection in Balance sheet how to Void a transaction
Slide Number 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 14.04 FrontAccounting version 2.3.24
Slide Number 4 Pre -requisites	For this tutorial, you must be familiar with: Principles of Bookkeeping Set up an Organisation/Company in FrontAccounting If not, for relevant tutorials please visit http://spoken-tutorial.org
	Let us start by opening 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 as spoken. 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 icons under this tab, such as: Payments Deposits Journal Entry etc.
Slide 5 Charts of Accounts	* The Charts of Account within FrontAccounting is defined by Type, Class, Group and Account. All transactions are charged to an Account, Group, and Classes They are used to group transactions for reporting purposes.
Point to>> Maintenance panel>>	We can see the icons as: GL Account GL Account Groups GL Account Classes in Front Accounting
Slide 6 Why GL Accounts, Groups, Class	* In FrontAccounting, an Account belongs to a Group and group belongs to Class. Depending upon how to present the Balance Sheet and Profit and Loss Statements
Point to>> GL Account Classes>>	GL Accounts Classes are the highest level and set in the system.
Click>> GL Accounts Classes>>	Click on GL Accounts Classes
Click>> GL Account Classes>>	Here, by default the classes have been defined as: Assets Liabilities Income Expense
Narration	You will need to set this class before setting the Account Groups. I will demonstrate the same
Click >>Class ID field >>	Click on the Class ID field, I will type 5
Click>> Class Name field>>	Click on the Class Name field. I will type Equity .
Click>> Class type field >>	Click on the Class type drop down menu. I will select Equity
Click>> Add new button>>	Click on Add new button We can see a message appears that says- 'New account class has been added'
Point to the Equity status >> GL Account Classes	You can see, the Equity class is added under Accounts Classes
Point to Banking and General Ledger tab	Click on the Banking and General Ledger tab.
Click>> GL Groups icon>>	Click on the GL Account Group icon
Point to the >> GL Groups field>>	We can see the default group name which shows GL Account groups under the class You can also add your own Group Name I will demonstrate
Click >>Class ID field >>	Click on the Class ID field, I will type 13
Click>> Class Name field>>	Click on the Name field, I will type as Fixed Assets
Click>> Subgroup of >>	I will keep the subgroup Class field as None
Click>> Class icon >>	Click on the Class drop down menu I will select the Assets as the Class
Click>> Add New button >>	Click on Add new button. We can see the message appears that says ‘New account type has been added’.
	Similarly, you can add your own group name
Point to Banking and General Ledger tab	Again, click on the Banking and General Ledger tab
Click>>GL Accounts icon >>	Click on GL Accounts icon
Click>> Account code field>>	Click on Account Code field I will type the code as 1100
Click>> Account Name field>>	Click on the Account Name field I will type as Land and Building
Click >> Account Group field>>	Click on the Account Group drop down menu I will select the group as Fixed Assets
Click>> Account status field >>	Click on the Account status drop down menu I will select the status as Active
Click>> Add New button >>	Click on Add Account button. We can see the message as ‘New account has been added’.
Narration	Similarly, you can select your own GL Account
Narration	Pause the tutorial here
Slide 7: Assignment 1	Do this assignment. Create a GLAccount Group and name as Investment Create GLAccount as Bonds, Investment, Debentures Save the changes.
Narration	Now, we have set up the charts of Accounts for our own Company.
Slide -8	Let us pass a Journal Entry Commenced business with a Capital Rs 50,000 Cash A/c Dr. 50,000 To Capital A/c 50,000 (Being Capital introduced in business)
Point to Banking and General Ledger tab	Click on the Banking and General Ledger tab.
Click>> Journal Entry icon>>	And then on the Journal Entry icon.
Point>> Date field>>	Click on the Calendar icon of Date field. You can see that the default date is set as today.
Point to Reference field	We can see the reference field for the transaction.
Click>>Account Description field>>	Click on the Account description drop down menu I will select as Cash
Click>> Debit textbox>>	Click on the Debit textbox I will type the amount as 50,000
Click on the Add Item button>>	Click on the Add item button
Point to the Account Description field>>	In the Account description drop down menu I will select Capital
Click>> Credit textbox>>	Click on the Credit textbox I will type the amount as 50,000
Click on the Add Item button>>	Click on the Add item button
Click>> Memo field>>	Click, in the Memo field for the narration of this journal entry
Point to the Memo field >>	I will type as Being capital introduced in the business
Click>> Process Journal Entry button>>	Click on the Process Journal Entry button
Point to the green colour bar	You can see the message appears in green as Journal Entry has been entered # 2
Point to the options >>	You can see the options as: View this Journal Entry Enter New Journal Entry Add an Attachment Back
Click>>View this Journal Entry	Click on the View this Journal Entry option A new popup window opens showing the current General Ledger transaction details.
Point to Print and Close icon	We can also see the icon print and close you can also give print of this transaction for your reference.
Point to close icon	I will close this window
Click>>Enter New Journal Entry	Click on the Enter New Journal Entry option We can see a new page opens for the next/new transaction.
Click>> back option>>	Click on the Back option
Click>>Add an Attachment	Click on the Add an Attachment option.
Point to the menu bar>> Attachment	We can see the fields as: Transaction Description Attached file You can use the field to attach any documents related to the journal entry which is passed.
Point to Banking and General Ledger tab	Click on the Banking and General Ledger tab
	Let us see the reflection of this Journal Entry in the Balance Sheet
Click>> Balance sheet Drilldown>>	Click on the Balance sheet drill down icon
Point to Current Assets	We can see the transaction is reflected as: Current Assets shows balance of 50000 (fifty thousand)
Point to Liabilities	Also, the transaction is reflected in Liabilities shows the balance of 50000 (fifty thousand)
	Let us see the Void a transaction icon
Click>> Setup tab>>	Click on the setup tab.
Click>> Void a transaction icon>>	Click on the icon Void a transaction 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	We can see the transaction number and voiding date
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 is action cannot be undone
Click>> Proceed button>>	Click on the proceed button A message appears and says Selected transaction has been voided
Narration	Let us summarize.
Slide 7 Summary	In this tutorial, we have learnt to create General Ledger Classes General Ledger Group General Ledger Accounts Also, we have learnt to : Pass a Journal Entry See the reflection in Balance sheet Void a transaction icon
Slide 10	We conduct workshops using Spoken Tutorials and give certificates. Please contact us.
Slide 11	The Spoken Tutorial Project is funded by NMEICT, MHRD Government of India. This tutorial is contributed by Sheetal Prabhu. Thank you for joining.

Contributors and Content Editors

Nancyvarkey, Nirmala Venkat, Sheetal