What Is Fact Accounting?

What is FACT Accounting?

FACT
–    Type refer of Company, Address, Short name, Income taxation no.
–    Install AR/AP (Type yea is nosotros wishing to install AR/AP & Inventory.
–    Install Sample Date: Select none
–    Then Save (Alt+S)

PREFERENCE

    Select Account
    Select Preference
    Select System control
(a) Account Code Type
    Select Alpha or Numeric
(b) Customer vendor code type
    Select Alpha & Numeric
    Save
    Close

OPENING Influenza A virus subtype H5N1 COMPANY
    Select Account
    Select Open
    Select the Company (Press Enter)
    User - Type user refer (Manager) (Press Enter)
    O.K.

MODIFY Influenza A virus subtype H5N1 COMPANY
    Select Account
    Select Modify
    Type initial or nosotros tin sack select from the listing (F1)
    After modifying select Save


DELETING Influenza A virus subtype H5N1 COMPANY
It is genuinely non equal to throwing a fellowship out of the arrangement but it is rather throwing a fellowship from the list. If nosotros genuinely required to delete, nosotros tin sack delete past times window system.
    Select Account
    Select Delete
    Select the Company
    Then O.K.

RESTORATION
    Select Account
    Select New
    Type delete initial of Company
    Type the refer of Company
    Save it

Initials
Enter (meaningful) Initials inside 3 characters for the Account y'all are installing. This is the unique identifier past times which the Account volition live on referred past times the System during whatsoever fourth dimension when the Account is accessed.
Concepts - General Ledger Accounts

After an Account is installed, the kickoff affair y'all ask to do is to gear upwardly the Chart of Accounts. Before y'all function out along doing so, what y'all ask is to brand a listing of your General Ledger Accounts.

Coding Structure
FACT does non convey pre-set Codes for Assets, Liabilities, Income & Expenses. You may assign whatsoever code to whatsoever General Ledger Account. But it is a skillful exercise to broadly guild the same type of General Ledger Accounts for easier identification as well as repose of use.

CREATING Influenza A virus subtype H5N1 LEDGER( APART FROM CASH AND BANK A/C)
    Select Master
    Select nautical chart of account
    Select full general ledger
(Creation box volition live on appear)
    Select Add
    Type General ledger Code
For Eg. E001, I001
    Description: Name of Ledger
    Select Profit/Loss Account or Balance Sheet Type
    Cash/Bank Book – Yes
    It active alone inwards residual sheet
    Type initial of Bank/Cash
    Cash or Bank code: Two digit only
    Minimum Balance:
    Alternate General ledger (G) code:
1    Save
CREATING Influenza A virus subtype H5N1 LEDGER OF CASH A/C
    Select Master
    Select nautical chart of account
    Select full general ledger
(Creation box volition live on appear)
    Select Add
    Type General ledger Code
For Eg. E001, I001
    Description: Name of Ledger(cash a/c)
1    Balance Sheet Type
2    Choose cash as well as banking concern residual from b/l subgroup
3    Cash/Bank Book – Yes
4    Choose yeah from cash book
    Type initial of Bank/Cash
    Cash or Bank code: Two digit only
    Minimum Balance:
    Alternate General ledger (G) code:
5    Save
CREATING Influenza A virus subtype H5N1 LEDGER OF BANK A/C
    Select Master
    Select nautical chart of account
    Select full general ledger
(Creation box volition live on appear)
    Select Add
    Type General ledger Code
For Eg. E001, I001
    Description: Name of Ledger(Himalayan banking concern a/c)
    Balance Sheet Type
6    Cash/Bank Book – Yes
7    Choose no from cash book
    Type initial of Bank/Cash
    Cash or Bank code: Two digit only
    Minimum Balance:
    Alternate General ledger (G) code:
8    Save

To View General Leger
    Select Ledger Menu
    Select listing of Master
    Select full general ledger code
9    O.K.
Entry of magazine voucher
1.    click on magazine of entry menu.
2.    click on ledger
3.    click on add together tab
4.    type the voucher no. narration, as well as date
5.    click on gl code
6.    press f1 select required debit ledger
7.    type the debit amount
8.    click on gl code of series no2 select credit ledger
9.    click on save.or press alt+s
Entry of receipt voucher
1.    click on vouchers receipt/payment of entry menu
2.    click on 1 dr/cr or many dr,cr
3.    click on add together tab
4.    select default
5.    lead required voucher type e.g receipt
6.    type the voucher no. as well as date
7.    click on gl code as well as select credit ledger
8.    click on bank/cash box
9.    select debit ledger
10.    press larn inwards type the amount
11.    click on save

Entry of payment voucher
1.    click on vouchers receipt/payment of entry menu
2.    click on 1 dr/cr or many dr,cr
3.    click on add together tab
4.    select default
5.    lead required voucher type e.g payment
6.    type the voucher no. as well as date
7.    click on gl code as well as select debit ledger
8.    click on bank/cash box
9.    select credit ledger
10.    press larn inwards type the amount
11.    click on save
Entry of contra voucher
1.    click on vouchers receipt/payment of entry menu
2.    click on 1 dr/cr
3.    click on add together tab
4.    select default
5.    lead voucher type payment
6.    type the voucher no. as well as date
7.    click on gl code as well as select contra ledger or type 1000
8.    click on bank/cash box
9.    select credit ledger
10.    click on (to bank/cash) box select debit
11.    press larn inwards type the amount
12.    click on save
Display of magazine voucher
1.    click on magazine mass of ledger menu
2.    lead opening choice option
3.    define the appointment range
4.    lead output eg. Text or graphic
5.    click on ok.
Display of receipt voucher
1.    click on cash banking concern reports of ledger menu
2.    click on receipt register
3.    lead opening choice e.g. include opening, exclude opening etc.
4.    define the period
5.    cheque or uncheck demonstrate details
6.    lead classify past times option
7.    click on ok
Display of payment voucher
8.    click on cash banking concern reports of ledger menu
9.    click on payment register
10.    lead opening choice e.g. include opening, exclude opening etc.
11.    define the period
12.    cheque or uncheck demonstrate details
13.    lead classify past times option
14.    click on ok
Display of ledger reports
15.    click on full general ledger of ledger menu
16.    click on normal
17.    define the period
18.    lead required currency
19.    cheque or uncheck running total, calendar month total
20.    lead output option
21.    click on ok
Display of cash mass as well as banking concern books
22.    click on cash/ banking concern reports of ledger menu
23.    click on books reconciliation
24.    define the period
25.    lead required currency
26.    lead cash or banking concern option
27.    lead output option
28.    click on ok

Display of Trail balance
29.    click on trail residual of ledger menu
30.    click on normal or appointment to appointment or GroupWise
31.    type the required date
32.    cheque on closing stock
33.    lead required currency
34.    lead output choice e.g. text or graphic
35.    click on ok
Display of Profit as well as loss a/c
36.    click on net as well as loss a/c of ledger menu
37.    click on complete
38.    type the date
39.    cheque uncheck demonstrate details
40.    cheque on closing stock
41.    lead currency option
42.    lead output option
43.    click on ok
44.    click on yeah of the message
Display of Balance sheet
45.    click on residual sail of ledger menu
46.    click on complete
47.    type the date
48.    cheque uncheck demonstrate details
49.    cheque on closing stock
50.    lead currency option
51.    lead output option
52.    click on ok
53.    click on yeah of the message

Inventory voucher :

The voucher related to stock is called inventory voucher.
It is involved amongst production or stock item; in that place are 4 types of inventory voucher.

1.    Purchase voucher.
2.    Debit banknote on buy return.
3.    Sales voucher.
4.    Sales returned on credit note.


Creating stock items
1.    do the ledger of buy , sales, buy provide as well as sales return

1.    click on item production of main menu
2.    click on products
3.    click on add together tab
4.    type the item code no. refer of item inwards description box e.g sony, IBM, tvm etc.
5.    lead no from service item
6.    type the unit of measurement of stock items
7.    lead purchase, sales, buy provide as well as sales provide from the related box
8.    click on save

Grouping of stock items
1.    click on item/product of main menu
2.    click on grouping
3.    click on insert
4.    type the refer of grouping e.g computer.tv
5.    click on save
6.    click on required group
7.    click on next
8.    click on insert
9.    type the refer of subgroup
10.    click on save
11.    click on required subgroup
12.    click on next
13.    tag on required stock item
14.    click on save
Entry of buy voucher
1.    click on buy of entry menu
2.    click on invoice
3.    click on add together tab
4.    click on default
5.    click on select
6.    type invoice no.
7.    goods received no.
8.    monastic enjoin no., political party invoice no.
9.    lead cash a/c or vender refer from vender box.(press larn inwards for cash buy or press f1 to select vender name
10.    click on production box.
11.    press f1
12.    select required product
13.    type quantity as well as rate
14.    role this procedure for to a greater extent than or less other items
15.    click on save

Entry of sales voucher
16.    click on sales of entry menu
17.    click on invoice
18.    click on add together tab
19.    click on default
20.    click on select
21.    type invoice no.
22.    goods received no.
23.    monastic enjoin no., political party invoice no.
24.    lead cash a/c or client refer from client box(press larn inwards for cash sales or press f1 to select customer)
25.    click on production box.
26.    press f1
27.    select required product
28.    type quantity as well as rate
29.    role this procedure for to a greater extent than or less other items
30.    click on save

Entry of buy provide (debit note)
31.    click on buy of entry menu
32.    click on provide tab
33.    click on add together tab
34.    click on debit banknote no.
35.    type ref. inv no.
36.    lead cash a/c or supplier refer from vender box.
37.    click on production inwards invoice box.
38.    select required item
39.    type the quantity
40.    click on save
Entry of sales provide (credit note)
41.    click on sales of entry menu
42.    click on provide tab
43.    click on add together tab
44.    type sales provide no.
45.    type the date
46.    lead ref. inv no.
47.    lead cash a/c or client a/c from client box.
48.    click on production on invoice box.
49.    press f1 as well as select required item
50.    type the quantity
51.    click on save



For Opening Balance of General Ledger
    Select Master
    Select Opening Balance
    Select General Ledger
    Plus(+) inwards Asset side & Minus (-) inwards Liabilities
    Save

Creation of Salesman or Agent
    Select Master
    Select Salesman/Agent
    Select Add
    Type Code number
    Type refer of Agent, Address, Postal Codes Commission Percent
    Save
To View
    Select AR/AP
    Select Listing of Master
    Select Salesman/Agent

Process of VAT(Purchase case)
1.    do the ledger of vat
2.    click on preferences of trouble organisation human relationship menu
3.    click on arrangement control
4.    click on buy tab
5.    click on invoice terms
6.    click on add
7.    type the code no.
8.    description: vat
9.    click ledger code
10.    lead (+) addition sign
11.    lead none from category
12.    click on save

Process of VAT(sales case)
1.    click the ledger of VAT(B/S,current liablities)
2.    click on preferences of Account menu
3.    click on arrangement control
4.    click on sales tab
5.    click on invoice terms
6.    click on Add
7.    type the code no.
8.    Description: VAT
9.    click ledger code
10.    lead (+) addition sign
11.    lead none from category
12.    click on save

Process of discount case
1.    do the ledger of discount receipt(other income)/discount given(other exp) accordingly
2.    click on preferences of Account menu
3.    click on arrangement control
4.    click on Purchases tab
5.    click on invoice terms
6.    click on Add tab
7.    Description: discount
8.    click the ledger code
9.    Discount received – inwards representative of purchase
10.    Discount given – inwards representative of sale
11.    click on save

Entry of buy voucher having VAT as well as Discount
1.    click on buy of Entry menu
2.    click on invoice
3.    click on Add tab
4.    select Default
5.    click on select
6.    type the inv no.,GRN no.
7.    type vendor/customer
8.    select required item, type qty as well as rate
9.    click on terms
10.    select VAT or discount ledger accordingly
11.    type percent or amount
12.    click on ok
13.    click on save

Entry of sales voucher having Vat as well as discount
1.    click on sales of Entry menu
2.    click on invoice
3.    click on Add tab
4.    select default
5.    click on select
6.    type invoice no.,GRN no.
7.    type vendor/customer
8.    select required item, type qty as well as rate
9.    click on terms
10.    select VAT or Discount ledger accordingly
11.    type percent or amount
12.    click on ok
13.    click on save

Creating Vendor/customer
1.    click on vendor/customer of Master menu
2.    click on client or vendor
3.    click on Add tab
4.    type code no.
5.    type all details of customer/vendor
6.    click on save

                           Display of stock position
1.    click on Material In/Out of Inventory menu
2.    click on Products or Stock ledger
3.    define the current as well as output option
4.    click on ok
5.    tag the required item
6.    click on ok
                          Display of customer/vendor Query
1.    click on Query of AR/AP menu
2.    click on customer/vendor every bit required


Display of buy register(Order,D/O,Invoice)

1.    click on Purchase register of AR/AP menu
2.    Click on required category
3.    click on invoice
4.    lead opening option
5.    define the period
6.    cheque or uncheck demonstrate details, full quantity
7.    lead production option
8.    lead cash or credit or both
9.    lead output choice eg. Text or graphics mode
10.    lead outpit to choice eg. Print preview, word, excel etc
11.    click on ok



Display of sales register
1.    click on sales register of AR/EP menu
2.    click on required choice eg. Invoice
3.    click on invoice
4.    lead opening option
5.    define the period
6.    cheque or uncheck demonstrate details, full quantity
7.    lead production option
8.    lead cash or credit or both
9.    lead output choice eg. Text or Graphics mode
10.    lead output to choice eg. Print preview, word, excel, etc
11.    click on ok  




Entry of payment to the supplier

1.    click on voucher receipt/payment of Entry menu
2.    click on vendor
3.    click on Add tab
4.    lead payment or receipt
5.    type voucher no.
6.    lead credit ledger from the bank/cash a/c
7.    lead vendor mame from the vendor option
8.    lead banking concern accuse if y'all select banking concern a/c
9.    click on document no.
10.    select the invoice no.
11.    click on save     

Entry of receipt from customer

1.    click on voucher receipt/payment of Entry menu
2.    click on customer
3.    click on Add tab
4.    lead receipt
5.    type voucher no.
6.    lead debit ledger from the bank/cash option
7.    lead client refer from the client option
8.    type the amount
9.    click on document no. from the document no. option
10.    click on relieve

Display of receipt register

1.    click on receipt register of AR/AP menu
2.    click on customer/vendor
3.    lead opening option
4.    define the period
5.    click on demonstrate details
6.    lead the output option
7.    click on ok

Display of payment register

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