How To: Create a Dividends Nominal Account

Table Of Contents

Introduction

Introduction

If you need to record dividend transactions within Khaos Control, you can create a dedicated nominal account for dividends.
When configured correctly, the nominal account will appear under Retained Earnings on the Balance Sheet, making it easier to report on and manage dividend payments.

Create a Dividends Nominal Account

  1. Open an Accounts screen (show me how).
  2. Open the [ Accounts | Nominal Accounts | Nominal Accounts ] screen.
  3. Enter Edit Mode by pressing Alt + E or clicking Edit.
  4. Press F3 or click New to create a new nominal account.
  5. Complete the fields as follows:
    FieldValue
    CodeEnter the required nominal code.
    DescriptionEnter a description, for example Dividends.
    System TypeFinance
    Account TypeCompany
  6. Press Ctrl + S or click Save.

Result

The new dividends nominal account is created and will be reported within Retained Earnings on the Balance Sheet.

Additional Information

When creating dividend-related nominal accounts, it is important that the System Type and Account Type are configured correctly. These settings determine how the account is treated within Khaos Control's financial reporting structure.
Using Finance as the System Type and Company as the Account Type ensures that the account is included in the appropriate section of the Balance Sheet.



See Also


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