Adding Capital Entry
Journal entries are an expression of the exchange of value, that is, the taking and giving of cash or cash equivalent between the two parties to the financial process. Every operation has two parties, the first is the (creditor), and the second is the (debtor) party for the value.
Qoyod performs all the accounting operations automatically and in a smart way. However, it is possible that accountants in the organization add new entries. Therefore, Qoyod provides users with the ability to create “Manual Journal Entries”.
How to add a capital entry:
1- Click on “Manual Journal Entries” from the “Accounting” dropdown menu
and you will be automatically directed to the “Manual Journal Entries” main page.
2- Click on the “New Manual Journal Entry” icon to create a “New Manual Journal Entry”.
You will see fields for creating a new “Manual Journal Entry” where you can:
3- Write the “Description” and set the “Date”.
4- Select the account “Capital” and write the amount under the field “Credit” due to the nature of the credit account.
5- You can, also, add other accounts by clicking “Add more”.
6- Add the account to which you added the capital, for example, “Bank Account” and determine the amount in the “Debit” field due to the nature of the debit account (the amounts in the debit and credit fields must be equal to complete the process).
7- Click on “Save”, to add the account.
To learn more about adding new accounts, click here “New Account”.