Creating New Nominal Codes

Creating new nominal codes may not be something you have to do immediately or even very often.

When we do a ‘Go Live’ with you, our consultants will usually import or create these for you as part of the project.

But sometimes later down the line, you may find you need a new account set up. Try creating new nominal codes, in your Nominal Ledger, by following these steps!

• Code: Manually enter a new code.
• Cost Centre: Select from drop down.
• Department: Select from drop down.
• Choose whether the account is Posting, Group or Memo.
• Report Category: Used to indicate if the account is Balance Sheet or Profit and Loss.
• Display A/C balance in Nominal Selection Box: Tick this to show balance in list views.
• Use batch postings: If you tick this box the total of postings made to this account during the Nominal Ledger update routine will be shown as one transaction on the account.
• Allow manual journal entries: Ticked by default. Untick if you do not wish to allow this option.
• Keep Transactions For: Number of months to store transactions against the account.