Click the Income button. You will see this screen:
Click the blue ‘Add new’ button at the top of the page to add a new code:
You will then be able to enter the information on the screen as seen below:
Enter the description of your income heading and a code for example ‘Donations' as the description and ‘0101’ as the account code.
Click the dropdown menu option where it says ‘Select heading’ next to the SOFA/R&P option.
Click the appropriate heading and click OK. You can find guidance on the SORP and relevant headings by going to www.charitysorp.org
You can ignore the ‘Preferred fund’ box unless you want a particular fund to appear automatically when you use this income code - in our example we may want ‘Donations’ to normally go to the Building Restricted Fund so that would be the preferred fund. You can change this preferred fund at any time. When you enter a transaction, you can always select a different fund if required.
To choose a preferred fund:
Click the small button with three dots next to the Preferred fund box that the picture on page 14 shows. A drop-down list of funds will appear.
Click the fund you want (be careful to ensure it is the correct fund and fund type i.e., designated, restricted etc.) and then click OK.
If you have the information from your previous accounts, you can record the previous year’s throughput for a code using a box at the bottom of the screen. This information can be entered until you do your first-year end after which MyFundAccounting.Online will enter the information automatically each year.
To save the income code:
Click the save button at the bottom of the window:
To add another income code
Click the ‘add new’ button at the top of the page again.
Once you have added all the income codes you can click the Back button to take you to the Nominal Accounts menu. Alternatively, you can navigate anywhere else in the system by using the menu options at the top of the page. You can add the expenditure codes in a similar way. To do this:
Click the 'Expenditure' button back on the ‘Nominal accounts’ page and continue. If you start to add a new code by mistake to cancel, click:
You have now completed the entry of your nominal account codes. You screen should now show a list of any current income nominal codes, with the option to edit, delete or view next to each of them.
