Meaning: Free & Open Source Software (FOSS) for accounting & inventory, developed by Digital Freedom Foundation & ICFOSS.
Features: Free & open source, double-entry bookkeeping, all financial reports, dual ledger, attach source docs, link sales/purchase to invoice, export/import spreadsheet, password security, data audit.
CREATE ORGANISATION & ADMIN
Organisation: Home → Create Organisation (Shift+Ctrl+R) → Fill name, type (Profit/Not for Profit), financial year, inventory option → Proceed.
Admin: After org, create admin: username, password, security question → Create & Login.
GROUPS AND SUB‑GROUPS
13 pre‑defined groups (9 BS, 4 P&L). Cannot delete/add main groups; can create sub‑groups.
Balance Sheet Groups: Fixed Assets, Investments, Loans (Asset), Current Assets, Misc Expenses (Asset), Capital/Corpus, Loans (Liability), Reserves, Current Liability.
P&L Groups: Direct Income, Direct Expense, Indirect Income, Indirect Expense.
Sub‑groups ex: Under Fixed Assets: Building, Furniture, Land, Plant & Machinery; Under Current Assets: Bank, Cash, Inventory, Sundry Debtors.
SYSTEM GENERATED LEDGER ACCOUNTS
Created automatically, cannot be modified/deleted:
- Opening Stock (Direct Expenses)
- Closing Stock (Current Assets)
- Profit & Loss Account (Direct Income)
- Stock at the Beginning (Current Assets)
LEDGER ACCOUNT OPERATIONS
Create (F2): Master → Create Account → Select Group, Sub‑group → Enter name, opening balance → Save.
Display (Ctrl+7): Report → List of Accounts.
Edit (F3): Master → Edit Account → Select → Change name/opening balance (cannot change group).
Delete: Master → Edit Account → Select → Delete (cannot delete system accounts or accounts with transactions).
VOUCHER TYPES & SHORTCUTS
| Voucher | Use | Key |
|---|---|---|
| Receipts | Cash/cheque receipt | F4 |
| Payments | Cash/cheque payment | F5 |
| Sales | Cash/credit sales | F6 |
| Purchase | Cash/credit purchase | F7 |
| Contra | Cash deposit/withdrawal, fund transfer | F8 |
| Journal | Rectification, adjustment, transfers | F9 |
| Sales Return | Customer returns | Ctrl+1 |
| Purchase Return | Return to supplier | Ctrl+2 |
| Credit Note | Reduce amount from customer | Ctrl+3 |
| Debit Note | Reduce amount payable to supplier | Ctrl+4 |
Add Account during entry: Click “Add Account” → fill details → return.
REPORTS
Ledger (F11): Report → Ledger → Select account → From date, To date → View.
Trial Balance (F12): Report → Trial Balance → From date, To date → View.
P&L A/c: Report → Profit & Loss → From date, To date → View.
Balance Sheet: Report → Balance Sheet → View.
OPENING & CLOSING STOCK
Opening Stock entry:
1. Master → Edit Account → “Stock at the Beginning” → Edit → Enter opening balance.
2. Voucher → Journal (F9): Dr Opening Stock, Cr Stock at the Beginning.
Closing Stock entry:
Journal (F9): Dr Closing Stock, Cr Profit & Loss A/c.
BANK RECONCILIATION STATEMENT (BRS)
Path: Master → Bank Reconciliation Statement (Alt+R) → Select account → Set period → Enter clearance dates.
Causes of difference: Cheque issued not presented, cheque deposited not collected, direct credits/debits by bank, bank charges, interest, etc.
IMPORTANT SHORTCUT KEYS
F2: Create ledger, F3: Edit ledger, F4-F9: Vouchers, F10: Find/edit voucher, F11: Ledger, F12: Trial Balance, Ctrl+7: List of accounts, Alt+R: BRS.
IMPORTANT EXAM QUESTIONS (CHAPTER 5 – 2018 to 2024)
Q1 (2018 Mar – 1 Mark): Two default ledgers in Gnu Khata? Ans: Cash Account, Profit and Loss Account.
Q2 (2018 Say – 1 Mark): Odd one: GNU Khata, TALLY, SAP, Libre Office Base? Ans: Libre Office Base (DBMS, others accounting).
Q3 (2019 Mar – 1 Mark): Cash ledger comes under which group? Ans: Current assets.
Q4 (2019 Say – 1 Mark): Depreciation account group? Ans: Indirect Expenses.
Q5 (2020 Mar, 2020 Say, 2022 Mar – 2 Marks): System generated ledger accounts? Ans: Opening Stock, Closing Stock, Profit & Loss Account, Stock at the Beginning.
Q6 (2021 Say – 2 Marks): Voucher type for: a) Cash paid into bank Rs.10,000? b) Salary paid Rs.7,000? Ans: a) Contra Voucher, b) Payment Voucher.
Q7 (2022 Mar – 2 Marks): Accounting groups of: (a) Cash in hand? (b) Machinery? Ans: (a) Current Assets, (b) Fixed Assets.
Q8 (2022 Say – 2 Marks): How to delete a Ledger Account? Ans: Master → Edit Account → Select → Delete → Confirm. (Cannot delete system accounts or accounts with transactions).
