FrontAccounting-2.4.7/C2/Items-and-Inventory-in-FrontAccounting/English-timed

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Time Narration
00:01 Welcome to the spoken tutorial on Items and Inventory in FrontAccounting.
00:07 In this tutorial, we will learn to add the following in FrontAccounting:

Units of Measure

00:14 Items
00:16 Item Category and Sales Pricing
00:20 To record this tutorial, I am using

Ubuntu Linux OS version 16.04

00:28 FrontAccounting version 2.4.7
00:32 To practise this tutorial you must have knowledge of

Higher secondary commerce and accounting and Principles of Bookkeeping

00:42 And you should have already set up an Organisation/Company in FrontAccounting.
00:48 If not, for relevant FrontAccounting tutorials please visit this website.
00:54 Start the XAMPP services before you begin working on FrontAccounting interface.
01:00 Before we start, let us understand what are Items in FrontAccounting.
01:06 Items are the things which we can buy or sell in the business.
01:11 We have to keep a record that lists key information about an inventory item.
01:18 Inventory is a complete listing of

Stock in hand,

01:23 Work in progress,

Raw materials and Finished goods in hand.

01:30 Let us open the Frontaccounting interface.
01:34 Open the browser and type localhost slash account and press Enter.
01:43 The login page appears.
01:46 Type the username as admin and the password.

Click on Login button.

01:54 The Frontaccounting interface opens.
01:57 Click on the Items and Inventory tab.
02:01 Maintenance panel is used to set up Items and Inventory details.
02:06 To do the setup, we have to make use of the following options:

Units of Measure

02:13 Items and Item Categories
02:18 Let us see how to set Units of Measure.
02:22 Units of Measure option has to be specified for each Item.
02:27 In the Maintenance panel, click on Units of Measure link.
02:32 By default you will see each and hour as units of measure.
02:38 Let us see how to add a new Units of Measure for kilograms.
02:43 Type the details for the unit kilograms as shown here.
02:48 In the Decimal places drop-down box, select zero.
02:53 Click on the Add new button at the bottom of the window to add this unit.
02:59 The pop-up message shows that we have successfully added a new unit.
03:04 We can also see the table with the updated entry.
03:08 Likewise you have to add the required Units of measure for your company’s items.
03:15 Click on Back link at the bottom of the window to go back to the FrontAccounting interface.
03:22 Now let us set the Item Categories to which the item belongs.
03:28 Item Categories helps us to group the items we buy and sell.
03:33 Click on Item Categories link.
03:35 We can see some default Item categories here - Charges, Components, Services and Systems.
03:48 We need to create our own Item category, which defines.

Item tax type,

03:54 Item Type and Units of Measure
03:58 Say for example, our company deals with finished goods i.e Laptops.
04:04 So we will add a new Item category named Finished Goods.
04:09 Fill the details as shown here.

Category Name – Finished Goods

04:15 Item Tax Type - Regular

Item Type - Purchased

04:21 Units of Measure - Each
04:24 Keep all the remaining fields with default values.
04:28 Click on the Add New button at the bottom of the window to save the entry.
04:34 We can see that the newly added details are updated in the above table.
04:40 Click on Back link at the bottom of the window to go back to the FrontAccounting interface.
04:47 Next let us create a new Item for this Item category.
04:52 In Maintenance panel, click on the Items link.
04:57 Here, we are prompted to fill in all the necessary information for the item.

Fill the details as shown here.

05:06 Make sure that you give a unique code for each item you fill.

This is mandatory.

05:13 Category is the Item category to which the item belongs.

We have selected Finished Goods.

05:21 Item type is to know whether the item is used for:

manufacturing purpose

05:28 purchased from a supplier or for a service
05:33 Scroll down.

And then click on the Insert New Item button at the bottom of the window.

05:41 The pop-up message shows that we have successfully added a new item.
05:47 Click on the drop-down box at the top of the window.
05:51 We can see that the new item has been added.
05:56 As an assignment:

Add two new items under Item category- Finished goods

06:02 Add two new items under Item category- Components
06:07 Refer to the Assignment link of this tutorial for details
06:12 After completing the assignment, click on the drop-down box at the top of the window.
06:18 Now you should see 2 items under Components and 3 items under Finished goods.
06:26 Click on Back link at the bottom of the window to go back to the Frontaccounting interface.
06:33 Pricing and Costs panel is used for selecting the pricing level of the items or inventory.
06:40 This option is used to assign sales prices to individual Sales item.

Click on the Sales Pricing link.

06:49 Click on the Item drop-down box.

Select the item Dell Laptop for which we want to assign the Sales Price.

06:58 Now, click on the Currency drop-down box.
07:02 Select the currency as Indian Rupees.
07:06 Click on the Sales Type drop-down box.
07:10 There are two options: Retail and Wholesale
07:15 Here select the option, Retail.
07:19 Next, click on the Price field.

Type the Price against the Item as 53,000 per each.

07:28 Then click on Add New button at the bottom of the window.
07:33 The pop-up message shows that we have successfully added a Sales price for the item Dell Laptop.
07:41 We can also see updated values in the table here.
07:45 Click on Back option at the bottom of the window to go back to the Frontaccounting interface.
07:52 This brings us to the end of this tutorial.
07:56 Let us summarize.
07:58 In this tutorial, we have learnt how to create,

Units of Measure, Items

08:06 Item Category and Sales Pricing
08:10 As an assignment, add the sales price for the items shown below:

Keep the Sales Type as Retail.

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The script and video has been contributed by Spoken Tutorial team. This is Pratik Kamble signing off. Thanks for joining.

Contributors and Content Editors

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