Accounts Nominal Accounts Tab

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For the Other Action Menu options (press F9 or the Other Actions Menu on the Button Bar) see Accounts Other Actions Menu.

Nominal Accounts Overview

This section provides an overview of nominal accounts, their presence on the trial balance, creating new nominal accounts and dealing with journal entries. Nominal accounts are defined as: accounts kept in a ledger which itemise revenue and expenditure, such as sales and operating costs. Every financial transaction in Khaos Control is attributed to one or more nominal accounts dependent on how the nominal accounts have been set up, the type of transaction and the items involved.

The Nominal Accounts tab comprises of four sub-tabs:

  1. Trial Balance
  2. Nominal Accounts
  3. Balance Tree
  4. Unallocated Transactions

The user is able to view contents of the nominals from the Trial Balance and Nominal Accounts sub-tabs using the Transaction Details Grid. The Journal Area which is used to transfer money between nominals, is at the bottom of these two sub-tabs.

Trial Balance Tab

Trial Balance Options Logic Flow Chart

This is a read-only grid showing the total (i.e. the balance) of each nominal account in the system that has been used in any double-entry posting during the current financial period. The trial balance is an accounting control, all the debits posted to the accounting system should equal all of the credits; hence the totals at the bottom of the trial balance grid should always be the same. The tab consists of the upper filters and the grid.


INFORMATION icon
The Trial Balance will be updated when the sales invoice is issued, but the date that the entry will appear will be the date of the invoice. When using Sales Summary it will be the date that the invoice was issued. However, if you filter on the Invoice Date then that should match the TB.

Trial Balance Filters

Scrntrialbalancefilter.jpg

  • Date range (Red Traffic Light Filter   /Green Traffic Light Filter   traffic light filter): filter the contents of the grid between a date range.
  • Profit & Loss, Balance Sheet or Both drop-down: view the nominals by Profit & Loss, or the Balance Sheet or both (default), see the System Type and System Nominal Accounts pages to see what nominal will be displayed.
  • BtnEOY.jpg: sets the filters to show the end of year trial balance as long as the period has not been closed down.
    Note: this will only display meaningful data if regular account clear downs have been performed and are up to date.
  • Show Retained Earnings checkbox: (also known as Profit & Loss brought forward) is only applicable if the Date range filter and the Open Transactions are on (checkbox is ticked). If the both those fields are ticked and this option is ticked then it will display the Retained Earning nominal if there is a transaction with the selected date range.
  • Open Transactions:
    • TICKED: then the grid will only displays Open Transactions (Including the Balance Brought Forward if within the selected date range).
    • UNTICKED: then closed transactions will be returned (Only the Balances Brought Forward).
  • Show 4dp:
    • TICKED: Monetary totals within the Trial Balance Grid will be accurate to 4 decimal places;
    • UNTICKED: Monetary totals within the Trial Balance Grid will be accurate to 2 decimal places.

Trial Balance Grid

  • Code: the nominal code.
  • Description: the name of the nominal.
  • Debit and Credit: the balance of the nominal.

Trial Balance Context Menu

  • Enter Opening Balance: opens the Opening Balances dialog used to enter customer and supplier opening balances, see How To: Enter a customer or supplier opening balance.
  • Set Default Report Dates: used to set a report's date range; all subsequent reports default to the set dates.
  • Print Transaction Detail: produce a report for selected account(s) based on a date range, see How To: Print the Transaction Detail.
  • Export Transaction Details (CSV): creates a CSV file for the selected nominals. The user specifies a date range and can opt to include the Nominal Class in the file, which is saved by the system in the specified folder.
    Note: the information displayed when the option Nominal Class is ticked or not is as follows:
    • UNTICKED - Det file:
      • ACCOUNT_CODE
      • ACCOUNT_DESC
      • CLASS
      • DATE
      • DESCRIPTION
      • DEBIT
      • CREDIT
      • SOURCE
      • SOURCE_REFERENCE
      • JOURNAL
      • URN
      • NOTE
    • TICKED - Sum file:
      • ACCOUNT_CODE
      • ACCOUNT_DESC
      • DEBIT
      • CREDIT
      • BALANCE
  • Nominal Query: opens the Nominal Query Dialog allowing users to specify two nominals and look at the journals between them over a specified date range.
  • Adjust Foreign Bank Account: this allows the Sterling value of the nominal to be changed without changing the (for example) Euro figure which appears on the Bank Account screen, see How To: Revalue Foreign Currency Accounts.
  • Clear Selection: deselects the currently selected line(s).

Nominal Accounts Tab

New nominal accounts are added in this tab and existing nominals can be edited or deleted, see How To: Create Nominal Accounts. Notes:

  1. Nominals can only be deleted if they have not been used.
  2. You cannot have duplicate nominal codes.
    Note : If you have duplicate nominal codes before upgrading to a version that does not allow duplicate codes, if you go into edit mode and try to save then a warning will appear and you will not be able to save.
WARNING icon
WARNING: DO NOT delete the nominals that don't have a System or Account Type as they are hard-coded in the system. If you rename them their functionality will NOT change.

Nominal Accounts Grid

Nominal Accounts Grid Context Menu

  • Apply Value Range: allows the user to specify a value that is to be applied to all of the currently selected rows/items for the current column.
  • Clear Selection: deselects the currently selected line(s).

Nominal Accounts Nodes

Nodes are used for grouping transactions for analysis purposes, see Accounts Nodes for more information.

  • the NEW ITEM button has an icon that shows two sheets of paper (identified by having the top right corner folded down), arranged diagonally on the icon from top left to bottom right   : add a new node.
  • the DELETE ITEM button has an icon that shows two sheets of paper (identified by having the top right corner folded down), arranged diagonally on the icon from top left to bottom right and overlaid with a red cross.   : delete a node.
  • BTNDisplayNodes.jpg: show accounts assigned to sub nodes.

Transaction Details Grid

This grid is used to view the transaction details of a specified nominal account.

To view the source documents for a transaction see How To: View Transaction Details.

By focusing on a nominal account from either the [ Trial Balance ] grid or the [ Nominal Accounts ] grid, and then clicking on the Sc Accounts taDetail taNominalAccounts BtnOpenDetail.jpg button above the right hand grid; then a transaction audit trail history is displayed. The detail shown is based on the month filter in the top section or by clicking on the rollover button the green circular (anti-clockwise) arrow is the ROLLOVER button button a date range can be selected. The filter can be disabled by clicking the green box next to this filter, changing it to red.

Transaction Details Filters

  • Month (Red Traffic Light Filter   /Green Traffic Light Filter   traffic light filter): filter the information in the grid by the selected month, or...
  • the green circular (anti-clockwise) arrow is the ROLLOVER button button: opens the date range so a specified date range can be selected (Red Traffic Light Filter   /Green Traffic Light Filter   traffic light filter).
  • Sc Accounts taDetail taNominalAccounts BtnOpenDetail.jpg button: populated the grid with the nominal that is focused on in the adjacent Trial Balance or Nominal Accounts grids.
  • Show Closed checkbox: displays entries for nominals who have entries that have been closed using the Monthly Close Down option, see Monthly Close Down.

Transaction Details Grid

  • Date: the date the entry was posted.
  • Debit and Credit: the amount either going into or out of the account.
    Note: to decrease an account you do the opposite of what was done to increase that account, for example:
    • an Asset account is increased with a debit and decreased with a credit.
    • A liability account would decrease with a debit and increase with a credit.
  • Balance: overall balance of the nominal based on the selected date range.
  • Source: where the entry has originated from for example SP Ledger, sales invoice etc.
  • Journal ID: the journal ID number for the entry.
  • Note: a note which can be added or edited via the context menu or may come from the Description in the SP Ledger for the entry.
  • Sk: the stock code number if appropriate.
  • Classification: the nominal classification assigned to the entry. Nominal Classifications are used for grouping transactions for analysis purposes, see Nominal Classifications.
  • CU / SU Code: the customer or supplier URN.

Note: system generated entries for the Retained Earnings nominal will be displayed in blue in this grid.

Transaction Details Context Menu

  • Goto Source Document: opens the source document for the line the user is currently focused on in the grid, e.g. sales order, where relevant.
  • Goto Supplier/Customer: opens the current supplier or customer record for the line the user is currently focused on in the grid.
  • Show Journal Pop-up: displays the Related Journal Entries Dialog to show all of the nominal accounts that made-up the double-entry that the user is currently focused on in the grid (see How To: View Journal Details).
  • Show Transaction Source Detail: displays a dialog that provides more detailed information about the transaction, such as associated reference numbers and the customer/supplier the transaction may be attached to.
    Notes:
    1. The transaction source details can also be shown by double clicking on any entry in the transaction details grid.
    2. If the entry was as the result of a stock adjustment, clicking on the Goto button for the Source Document will open up the [ Stock | Adjustments | History ] screen filtering on the Group ID.
    3. The name of the user is recorded against the nominal posting and is displayed in the popup.
  • Edit Note: option to allow users to add, edit and delete notes for individual transactions or across the entire journal.
  • Assign Nominal Classification: allows the user to assign a nominal classification to an entry the user is currently focused on in the grid.
  • Filter by Company: allows all transactions shown to be limited to those generated against a particular customer or supplier. For debtor and creditors accounts only.
  • Reset Company Filter: turns off the above filter.
  • Reports:
    • Print Transaction Report: outputs the transaction details found within the grid to a printed report; controlled by a date range, see How To: Print the Transaction Detail.
    • Print Journal Report: outputs all journals to a printed report; controlled by a date range,, see How To: Print the Journal Report.
      Note: all journals are printed; not only those associated with the current transaction view.
    • Set Default Report Dates: allows the user to pre-select the reporting period so that they will not be prompted for a date period each time a report is printed
  • Clear Selection: de-selects the currently selected line(s).

Journal Area

The Journal Area is used to transfer money between nominal accounts, see How To: Journal between Nominal Accounts. It consists of the journal entry information area including the buttons and the grid.

Sc Accounts taDetail taTrialBalance JournalGrid.jpg

Journal Entry Information and Buttons

  • the DELETE ITEM button has an icon that shows two sheets of paper (identified by having the top right corner folded down), arranged diagonally on the icon from top left to bottom right and overlaid with a red cross.   button: delete Journal Item.
  • BtnDelJournal.jpg button: cancel Journal.
  • BtnSaveJournal.jpg button: apply Journal.
  • Journal Date: the date values for new journal lines.
  • Note: used to apply the same note to all of the Note fields in the grid.
  • Currency drop down: the currency of the journal entries.
    Note: the entries in the grid will be converted to the base currency when the journal is applied.
  • BtnExchangeRates.jpg: opens the Exchange Rates Dialog allowing the current exchange rate to be changed without having to update system data.
  • EoY Adjustment Journal: this option is used when posting manual journals to allow for EOY adjustment journals to be posted, even when the Financial year has been closed.
    Note: Postings will only be allowed on the last day of the previously closed financial year.


Journal Grid

  • Code: the nominal account code.
  • Account: the name of the journal account.
  • Debit and Credit: the amount either going into or out of the nominal account.
  • Note: the notes to be entered against the nominal entry. This is useful when setting up Journal Templates from here.
    Note: if the note is the same for all the nominals then it can be entered in the Note section above the grid and that will populate this column.
  • Date: the date of the journal.
  • Classification: the nominal classification for the entry which is used for grouping transactions for analysis purposes, see Nominal Classifications.

Journal Grid Context Menu

  • Open Journal Templates...: opens the [ Journal Template | List ] tab.
  • Save as Journal Template: the user can define the nominals to be used to create a Journal Template and then use this option to save the settings as a Journal Template.
  • Journal Quick Entry: nominals can be added to the grid along with amounts by using this option which loads the Quick Entry dialog
  • Apply Value Range: allows the user to specify a value that is to be applied to all of the currently selected rows/items for the current column.
  • Clear Selection: deselects the currently selected line(s).

Balance Tree Tab

The balance tree allows users to view nodes (i.e. groups of nominals) that have been set up in the Nominal Accounts tab and see their debit and credit values.

Unallocated Transactions Tab

This is a simple list used to monitor which payments and credit notes are not allocated to invoices, until sales invoices are issued even though they have a payment they will be displayed here. Khaos Control will auto-allocate payments and invoices, in most cases, therefore this list should only show the exceptions that have been created by users.

Unallocated Transactions Grid

  • Ref: the internal source id field of the payment/credit.
  • Date: the date the order was created.
  • SP: (S)ales or (P)urchase.
  • Amount: the amount that is due.
  • Allocated: the amount that has already been allocated to an invoice.
  • Unalloc'd: the amount unallocated, for example the outstanding balance or the payment in a sales order until the sales invoice has been issued.
  • URN: the company URN.
  • Company: company name.

Unallocated Transactions Grid Context Menu

  • Goto Supplier/Customer...: opens the customer, or supplier, record for the entry focused on in the grid.
  • Clear Selection: deselects the currently selected line(s).

See Also

Visit KhaosWikiX at https://support.khaoscontrol.com/wiki_kcx/ to see the following:

Contact the Khaos Team