Difference between revisions of "FrontAccounting-2.4.7/C2/Journal-Entry-and-Balance-Sheet-in-FrontAccounting/English-timed"

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Revision as of 11:39, 12 February 2020

Time Narration
00:01 Welcome to spoken tutorial on Journal Entry and Balance sheet in FrontAccounting.
00:07 In this tutorial we will learn how to

Pass a Journal Entry

00:12 See the reflection in Balance Sheet and Void a transaction
00:18 To record this tutorial, I am using

Ubuntu Linux OS version 16.04

00:26 FrontAccounting version 2.4.7
00:30 To practise this tutorial, you must have knowledge of:

Higher secondary commerce and accounting

00:37 Principles of Bookkeeping
00:40 And you should have already set up an Organisation/Company in FrontAccounting
00:46 If not, for relevant FrontAccounting tutorials please visit this website.
00:52 Start the XAMPP services before you begin working on FrontAccounting interface.
00:58 Let us open the FrontAccounting interface.
01:02 Open the browser and type localhost slash account and press Enter.
01:10 The login page appears.
01:12 Type the username as admin and the password.

Then click on Login button.

01:20 The FrontAccounting interface opens.
01:23 We will see how to introduce capital in the business.
01:27 The Journal Entry is Commenced business with a capital of Rs. 5,00,000.
01:32 The Entry is Cash account debit 5,00,000 To Capital Account 5,00,000

(Being Capital introduced in the business)

01:41 We will pass a Journal Entry for this.
01:45 Click on the Banking and General Ledger tab and then click on Journal Entry link.
01:52 In the Journal date field, you can see the default date is set as today.
01:57 We can also see the reference number for the transaction.

This is auto-generated.

02:05 Click on the Account Description drop-down box and select the option Cash.
02:11 Click on the Debit textbox and type the amount as Five lakhs.
02:17 To save the Debit entry, click on the Add Item button in that row.
02:23 Again, click on the Account Description drop-down box and select the option Capital.
02:30 Then, click on the Credit textbox and type the amount as Five lakhs.
02:38 To save the Credit entry, click on the Add item button in that row.
02:44 Now, click on the Memo field, for the narration of this Journal Entry.
02:49 Here, type the text- Being capital introduced in the business.
02:54 To save the entry, click on the Process Journal Entry button at the bottom of the window.
03:01 You can see the message at the top which says,

Journal entry has been entered”

03:07 You can also see the options: View this Journal Entry , Enter New Journal Entry
03:12 Add an Attachment and Back
03:17 Let us explore these one by one.
03:20 Click on View this Journal Entry link.
03:24 A new popup window opens.
03:27 It shows the General Ledger Transaction Details that we have entered just now.
03:33 Print link is to get a print-out of this transaction for our future reference.
03:39 Click on Close link to close this window.
03:43 Now, click on the Enter New Journal Entry option.
03:48 A new page opens for the next new Journal Entry.
03:52 Pause the tutorial and do the following assignment.
03:56 Pass a Journal Entry for Goods Purchased for Rs 50,000
04:01 The Entry is: Office furniture and Equipments Account debit

To cash Account for Rs 50,000

04:09 Memo: Purchased Office furniture and Equipments for Rs 50,000
04:15 Click on Process the journal entry
04:19 Now, click on the Add an Attachment link.
04:23 We can see the fields:


04:27 Description and Attached file
04:31 Attached file is to attach any document related to Journal entry which is passed.
04:38 Let me attach a sample voucher which I have already created and saved on my computer.
04:44 Click on the Browse button and locate the folder in which the file is saved.
04:51 I'll select the Sample-Voucher.pdf file from my Desktop folder.
04:57 You can see the file attachment here now.
05:01 This voucher has been provided in the Code files link of this tutorial.
05:06 Please download and make use of the file while practising.
05:11 Then click on the Add new button.
05:14 A message appears that says: Attachment has been inserted.
05:19 Also, you can see that the uploaded file has been added to the table.
05:25 Click on Back option to go back.
05:28 Next, let us see the reflection of this Journal Entry in the Balance Sheet.
05:34 To do so, click on the Banking and General Ledger tab.
05:39 Then click on the Balance Sheet Drilldown link.
05:43 We can see the transaction is reflected here.
05:47 In the future, when we have many more journal entries, the displayed list would be longer.
05:54 Next, let us see how to void a transaction.
05:58 Click on the Setup tab.

In the Maintenance panel, click on Void a transaction link.

06:06 This option is used to delete/remove an entry.
06:11 We can see the reference number, which shows the entry.
06:15 Let’s select reference 002/2019 to void transaction.
06:23 Click on the icon in the GL column to verify the details before deleting the entry.
06:30 We can see this entry for goods purchased for Rs 50,000 for Office furniture and Equipments.
06:38 Click on the Close link at the bottom of the window.
06:42 Now, click on the icon in the Select column.
06:46 On selecting the icon, the transaction number and voiding date appears.
06:52 Click on the Void Transaction button.
06:55 It displays a message: Are you sure you want to void this transaction? This action cannot be undone.
07:03 I will click on the Proceed button.
07:07 Immediately another message appears and says:

Selected transaction has been voided.

07:14 That’s how we can void a transaction, whenever it is required.
07:19 This brings us to the end of this tutorial.

Let us summarize.

07:25 In this tutorial, we have learnt to

Pass a Journal Entry

07:30 See the reflection in Balance Sheet

Void a transaction

07:35 The video at the following link summarises the Spoken Tutorial project.

Please download and watch it

07:43 The Spoken Tutorial Project Team conducts workshops and gives certificates.

For more details, please write to us.

07:51 Please post your timed queries in this forum.
07:55 Spoken Tutorial project is funded by NMEICT, MHRD, Government of India.
08:00 The script and video has been contributed by Spoken Tutorial team.

This is Pratik kamble signing off. Thanks for joining.

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