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Double-Entry Bookkeeping System

Double-Entry Bookkeeping System was first codified in the 15th century by the Franciscan Friar, Luca Pacioli. In deciding which account has to be debited and which account has to be credited, the golden rules of accounting are used. This is also accomplished using the accounting equation:

Equity = Assets − Liabilities.

The accounting equation serves as an error detection tool. If at any point the sum of debits for all accounts does not equal the corresponding sum of credits for all accounts, an error has occurred. It follows that the sum of debits and the sum of the credits must be equal in value.

 

  Click this button to open the Add Voucher dialog
  Select an Voucher Type to create
  A Voucher Dialog opens

 

 

Type the date

 

Use TAB to go through it

  Select a Contact
  Entre the details
  Once you entered the Detailed Transaction area, the system will generated a voucher number automatically
  Select an account
  Cheque number
  Ref. Number/Text
  Enter the amount
  Select an Item
  Enter the Quanity
  Enter the Unit Price/Cost
  Enter additional info