Nominal Codes

Use this window to set up new nominal codes or view existing nominal code parameters.

  • Go to Accounts > Nominal Ledger > Nominal Codes in the main menu bar.
  • To view existing nominal codes, enter or Search in the Hot Area for the nominal code and hit return.
  • To set up a new nominal code, enter a code in the hot area of up to 8 characters.
  • Hit return and click on Yes to Add New Nominal Code?
  • Enter a description of the nominal code, the short description will automatically be entered from what is typed in the description field.

There are two tabbed pages to set parameters for the nominal code which are described below.

1. Main

Balance Sheet

Tick this box if this is a Balance Sheet item.

Profit & Loss

Tick this box if this is a Profit & Loss Item.

Postings Allowed

Tick this box if manual postings to this nominal are allowed.

Cash Postings Allowed

Tick this box if cash posting to this nominal are allowed.

Bank Details

Tick this box if you wish to enter bank account details for the selected nominal code.

This option will only be available if the nominal has the ‘balance sheet’ and ‘cash postings allowed’ boxes checked. If these boxes are not ticked the bank details tab will be disabled.

Nominal Level Code

Enter or search for the nominal level code. For more information see Nominal Levels.

Summary Details

Tick this box if you wish to make summary details available for the nominal code i.e when doing a nominal enquiry, nominal code will be broken down. For more information see Nominal Enquiry

Note: This is only possible if the nominal code is to be used on a Profit & Loss account.

 

2. Bank Details

This tab is disabled unless the nominal has the ‘balance sheet’ and ‘cash postings allowed’ boxes checked. Enter the following details for the bank related to this nominal code.

    • Account Number
    • Sort Code
    • Opened Date
    • Closed Date
    • Overdraft Limit
    • Last Statement Number
    • Last Statement Date

When all the details have been entered, click on the green tick button to save.