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Nominal Ledger & Chequebook Linked Accounts window

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Capital Account for Current Earnings

This field displays the number of the account that tracks the increase in your business's capital during the current financial year. The amount assigned to this account is determined by subtracting the balances of all cost of sales and expense accounts from the balance of all income accounts (current earnings = income - cost of sales - expenses). In MYOB Accounting Plus documentation, this account is referred to as your Current Year Earnings account.

Capital Account for Retained Earnings

This field displays the number of the account that tracks the increase in your business's capital during its lifetime, not including the current financial year. When a new financial year is begun, the current earnings account's balance is added to the balance of this account. In MYOB Accounting Plus documentation, this account is referred to as your Retained Earnings account.

Capital Account for Historical Balancing

This field allows you to enter an account that tracks the difference in the opening balances you entered for your asset accounts and the opening balances you entered for your liability and capital accounts. If, for example, the opening balance of all your asset accounts is £100,000, and the total balance of all your liability and capital accounts is only £95,000, the remaining £5,000 will be assigned to this account. To ensure your business records are accurate, this account's balance should be zero.

In MYOB Accounting Plus documentation, this account is referred to as your Historical Balancing account.

Bank Account for Undeposited Funds

This field allows you to enter an undeposited funds account into which individual cash-receipts transactions are recorded -- not directly to your bank or credit card accounts. After you've grouped all of the Receive Money transactions you wish, you can then make a bank deposit which will include the group of Receive Money transactions you select. Using this method, a single bank deposit transaction will appear on your bank or credit card statement in place of many Receive Money transactions. The linked account must be a Detail Bank account.

In MYOB Accounting Plus documentation, this account is referred to as your Undeposited Funds account.

Account for Currency Gains/Losses

If you use Mulitcurrency, there is the potential for changes in the exchange rate between currencies to affect the value of your transactions and accounts. This potential is referred to as an unrealised gain or loss. Some-but not all-companies need to account for unrealised gains and losses; consult your accountant if you're unsure whether you need to track this information for your business.

This field allow you to enter an account for unrealised currency gains or losses.

In MYOB Accounting Plus documentation, this account is referred to as your Currency Gain Loss account.

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