Account Description issue
Title
Question
In the version of Frontaccounting 2.4.17 in Journal Entry of Start a business what type of account i choose for DR. and CR.,
because there is no Cash and Capital.
FrontAccounting-2.4.7 Journal-Entry-and-Balance-Sheet-in-FrontAccounting 02-03 min 0-10 sec
Answers:
Please go through the previous tutorial Banking and General Ledger in Front Accounting
It has been explained how to add cash and capital.
https://spoken-tutorial.org/watch/FrontAccounting-2.4.7/Banking+and+General+Ledger+in+FrontAccounting/English/
For the Debit (DR) side:You can choose an account like "Bank" or "Bank Account" if you're recording funds being withdrawn or transferred from a bank account.Alternatively, if you're recording expenses or purchases, you can select an appropriate expense account such as "Office Supplies," "Utilities," or any other relevant expense account.
For the Credit (CR) side:If you're not specifically recording capital contributions, you can use an account like "Revenue" or "Sales" if you're receiving income or revenue.Another option is to use an account like "Accounts Payable" if you're incurring liabilities or recording purchases on credit.
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