Creating Nominals
To create a Nominal, follow the steps below:
Click on Nominal Ledger, and then Nominal Accounts
Click on New
Complete the screen as below
Branch - select the Branch for the Nominal
Account Ref - enter the code for the Nominal
Description - Enter a Name for the Nominal Account
Currency - If you work in different currencies, select the relevant option
Is this a control account? - Tick if applicable. Control accounts are highlighted in Yellow in the
Nominal Accounts listSelect if the Nominal is a Profit & Loss or a Balance Sheet Nominal. This will then bring up
options under the selection just made. Select the Type of Profit & Loss/Balance Sheet that the Nominal will beBudgets and Current Balances - The budget amount can be manually entered in each month or the total annual budget can be applied equally over the 12 months. To apply the budget equally over the 12 months
Select Apply Annual (Equally)
Enter the annual budget in the box
Click Calculate. This will populate the budget column equally
Click Save. The Nominal will be created
Archiving Nominals
If a nominal is Zero and is no long required, it can be archived. By archiving a nominal, it will no long appear in dropdowns and cannot be posted to.
Check the balance of the Nominal Balance is zero. The Zero Nominal will not show unless the show Zero Nominals is ticked
Double click on the nominal to be archived, tick Archived and Save
Once the nominal has been archived it will display as Grey in colour