How To: Journal between Nominal Accounts
- Open the
[ Accounts | Nominal Accounts | Nominal Accounts ]tab. - Double-click or drag-and-drop on the nominals that you wish to transfer money between into the lower grid or use Quick Journal Entry.
- Enter the credit and debit values in the grid.
- Enter a note into the Note field above the grid for example Opening Balances.
- Press Ctrl+S or click
to save to create the journal.
Notes:
- Credit takes money FROM an account, debit moves money INTO an account.
- It is possible to have multiple credits and a single debit or vice-versa.
Example One
Journal £100 from your Opening Balance Nominal into your Sterling Bank Nominal (Entering the money into your Khaos Control Sterling Bank Account, for example when creating your opening balances):
| Account | Debit | Credit |
|---|---|---|
| Sterling Bank | 100.00 | |
| System Opening Balance | 100.00 | |
| 100.00 | 100.00 |
Example Two
Paying the wages - money is moved from the Sterling Bank Account and into the different wages nominals.
| Account | Debit | Credit |
|---|---|---|
| Sterling Bank | 3665.38 | |
| Staff Wages - Office | 1298.00 | |
| Staff Wages - Telesales | 1116.50 | |
| Staff Wages - Warehouse | 789.77 | |
| Staff Wages - Accounts | 461.11 | |
| 3665.38 | 3665.38 |