How To: Journal between Nominal Accounts

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  1. Open the [ Accounts | Nominal Accounts | Nominal Accounts ] tab.
  2. 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.
  3. Enter the credit and debit values in the grid.
  4. Enter a note into the Note field above the grid for example Opening Balances.
  5. Press Ctrl+S or click the disk icon is the button bar's SAVE button    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

See Also

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

Contact the Khaos Team