FrontAccounting-2.4.7/C2/Purchase-and-Reports-in-FrontAccounting/English-timed

From Script | Spoken-Tutorial
Revision as of 15:56, 13 February 2020 by PoojaMoolya (Talk | contribs)

(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to: navigation, search
Time
Narration
00:01 Welcome to the spoken tutorial on Purchases and Reports in FrontAccounting
00:08 In this tutorial, we will learn to

Add Suppliers

00:13 Make a Purchase Order Entry
00:15 Create Suppliers invoice and Generate various reports on the transactions
00:24 To record this tutorial, I am using

Ubuntu Linux OS version 16.04

00:32 And FrontAccounting version 2.4.7
00:37 To practise this tutorial, you must have knowledge of:

Higher secondary commerce and accounting and Principles of Bookkeeping

00:47 And you should have already set up an Organisation/Company in FrontAccounting
00:53 If not, for relevant FrontAccounting tutorials please visit this website.
00:59 Start the XAMPP services before you begin working on FrontAccounting interface.
01:05 Let us understand the meaning of Purchase.
01:09 Purchase refers to A product or service that has been bought by an individual or business.
01:17 A business attempting to acquire goods or services to accomplish its goals.
01:24 Now, let us open the FrontAccounting interface.
01:28 Open the browser, type localhost/account and press Enter.
01:36 The login page appears.
01:39 Type the username as admin and the password.

Then click on the Login button.

01:47 FrontAccounting interface opens.

Click on the Purchases tab.

01:53 Let us see the procedure for Purchases in FrontAccounting.
01:58 The steps to be followed for a Purchase Entry are:

Add Suppliers

02:04 Make a Purchase Order Entry
02:07 Receivable note from a Supplier And Suppliers invoice
02:13 But first let us understand the meaning of Supplier.

02:18

Supplier is a person or business that supplies goods or services.
02:24 Switch back to the FrontAccounting interface.
02:27 In the Maintenance panel, click on the Suppliers link.
02:32 Here, we need to fill in all the necessary information related to a Supplier.

I have filled the required details as shown here.

02:42 Scroll down.

Click on Add New Supplier Details button at the bottom of the window.

02:50 We can see the confirmation message for the saved entry.
02:55 We need to apply these changes for the new Purchase Order Entry.
03:00 Scroll down and click on the Update Supplier button at the bottom of the window.
03:06 The success message shows that we have updated the supplier.
03:11 Scroll down. Click on the Back link at the bottom of the window.
03:17 Let us make a Purchase Order Entry.

It is used to register all Purchase Orders in the system.

03:25 In the Transactions panel, click on the Purchase Order Entry link.
03:30 We can see the details with the Supplier name and other related information.
03:36 This is because we have already updated the details of the supplier earlier.
03:42 It is mandatory to give Supplier’s reference.
03:46 So, I will type the Supplier’s reference as S001.
03:53 In the Item Description drop-down menu, select Item as Dell laptop.
04:00 In the Quantity field, I will type 2 as the quantity.
04:05 Select the Required Delivery Date accordingly.
04:09 By default, it will be 10 days after the order date.

I’ll keep the same.

04:15 Now, in the Price before Tax field, I will type the Price as 48,000.
04:22 To save the entry, click on the Add Item button at the right end of the row.
04:28 We can see the Amount Total along with the GST.
04:32 Now, click on the Place Order button at the bottom of the window.
04:37 The success message shows that the Purchase Order has been placed.

04:42

Now, we need to receive the items for the Purchase Order.
04:47 In the window, click on the link Receive Items on this Purchase Order.
04:53 We can see the details of the received items for our Purchase Order.
04:58 Click on the Process Receive Items button at the bottom of the window.
05:03 We can see a message, “Purchase Order delivery has been processed.”
05:08 Below that, we can see some more options.
05:12 You may explore these options on your own later.
05:16 After this, we need to receive a Purchase invoice.
05:21 So, click on Entry purchase invoice for this receival link.
05:27 Here, we can see the details to enter Supplier invoice.
05:32 Type S001 as the Supplier’s reference.
05:37 It will give an error if you don’t give the supplier reference.
05:42 Click on the Add button at the right end of the row.

Scroll down.

05:47 We can see the details for the invoice with the GST.
05:52 Click on the Enter Invoice button at the bottom of the window.
05:56 We can see a message that we have successfully processed the Supplier invoice.
06:02 Next, we need to pay the Supplier against the invoice made.
06:08 Click on Entry supplier payment for this invoice link.
06:13 We see the Supplier Invoice details showing that we need to pay the Supplier.
06:19 Also, there has to be some Bank Balance to pay the Supplier.
06:24 In the Memo field, type ‘Being payment made to the supplier - S001’
06:31 Then click on the Enter Payment button at the bottom of the window.
06:36 The confirmation message shows that we have successfully made the Payment.
06:41 Below that, we can see some more options.

You may explore these options on your own later.

06:48 Click on View the GL journal Entries for this Payment link.
06:55 Click on the close link at the bottom of the window.
06:59 As an assignment, do the following:

Add a new Supplier for Purchases, using Suppliers option

07:07 Make a new Purchase Order Entry
07:10 Make a Supplier payment for this invoice
07:14 And Refer to the Assignment link of this tutorial for details
07:20 So far, in our company, we made few transactions related to Sales and Purchases.
07:27 Now let us see various reports related to these transactions.
07:33 Click on Banking and General Ledger tab.
07:37 Under Inquiries and Reports panel, click on Banking Reports link.
07:43 Click on Bank statement link on the right panel.
07:47 In the right panel, keep the Bank Accounts field as Current account.
07:52 Select the Start Date and End Date for the transactions to see the report.
07:58 Click on the Display:Bank statement button at the top right corner.
08:04 We can see a consolidated Bank statement report.
08:08 Close this window.
08:10 Next, click on Sales tab.
08:13 In the Inquiries and Reports panel, click on Customer and Sales Reports link.
08:19 In the next window, under Report Classes, click on General Ledger link.
08:26 Then click on List of Journal Entries link on the right panel.
08:31 Select the Start Date and End Date for the transactions to see the report.
08:37 Click on the Display:List of journal entries button at the top right corner.
08:44 We can see all Journal Entries that are entered in the company.
08:50 Let’s close this window.
08:52 Under Report classes, click on General Ledger link.
08:57 In the right panel, click on Trial Balance link.
09:01 Select the Start Date and End Date for the transactions to see the report.
09:07 Click on Display:Trial balance button at the top right.
09:12 We can see the corresponding report.
09:15 This is based on the list of all the General Ledger accounts.
09:20 Close the window.
09:22 Under Report classes, click on General Ledger link.
09:27 Click on Balance Sheet link on the right panel.
09:31 Select the Start Date and End Date for the transactions to see the report.
09:37 Click on Display: Balance sheet button at the top right.
09:42 We can see the corresponding report of Assets and Liabilities
09:48 Close the window.
09:50 Under Report classes, click on Customer link.
09:55 Here we can see Price listing, customer detail listing, Customer trial balance.
10:02 Explore these reports on your own.
10:05 This brings us to the end of this tutorial.

Let us summarize.

10:11 In this tutorial, we have learnt to

Add Suppliers

10:16 Make a Purchase Order Entry
10:19 Create Suppliers invoice
10:22 And Generate various reports on the transactions
10:26 The video at the following link summarises the Spoken Tutorial project.

Please download and watch it

10:34 The Spoken Tutorial Project Team conducts workshops and gives certificates.

For more details, please write to us.

10:43 Please post your timed queries in this forum.
10:47 The Spoken Tutorial Project is funded by MHRD Government of India.
10:53 The script and video has been contributed by Spoken Tutorial team.

This is Arvind pillai signing off. Thanks for joining.

Contributors and Content Editors

PoojaMoolya