Nominal Journals

Access to this option is controlled by "Permission option" 66.

Edit -> Finance -> Nominal Journals

Nominal Journals are a direct method of posting to "Journal number" for audit purposes.

Each Journal includes both "Debit" and "Credit" elements maintaining double-entry bookeeping standards. Every posting must have a "Contra" account specified for it. These are pre-defined in " Nominal Accounts" and this value is used by default when the account posted is selected.

If you are using "Revenue codes " in accommres these can also be specified when entering a Journal

The following Journal is an example posted to a Profit and Loss account and includes VAT (Sales Tax) postings

When the " Add" button is selected a Journal number is automatically created and the following postings raised.

This example will result in:-

1) Credit to account 1075 ("TWIN ROOM") of 1,000.00 GBP

2) Credit to account 8011 ("VAT: Sales Tax 1") of 175.00 GBP

3) Debit to account 9100 ("DEBTORS - DIRECT") of 1,175.00 GBP

The Journal number is shown as above.

The following Journal is an example posted to a Balance sheet "Bank" account

When the "Add " button is selected a Journal number is automatically created and the following postings raised.

This example will result in:-

1) Debit to account 9200 ("BANK ACCOUNTS") of 16.23 GBP

2) Credit to account 9600 ("CREDITORS") of 16.23 GBP

Supported payment types

Card

Cash

Charges

Cheque

Direct debit

Interest

Standing Order

Transfer