How do I set up nominal codes?

It is important that you have completed the setup of your chart of accounts prior to adding nominal codes to the system.

If your data has already been imported from your previous accounting system, in Finance > Nominal Ledger you will see a list of the imported nominal codes and descriptions along with any current credit or debit balances.
Above this in the top left-hand corner of the nominal codes screen you will see an ‘Add’ button.
If you are setting up accounts for the first time, you will just see the ‘Add’ button.

To set up a new nominal code simply click the ‘Add’ button. Give your Nominal a name and select a type.
The standard options are:

• Sales
• Purchases
• Direct Expenses
• Overheads
• Fixed Assets
• Current Assets
• Current Liabilities
• Long-term Liabilities
• Capital & Reserves

Select the appropriate type from the list and click Next.
Choose the nominal category that you wish to assign your new nominal to from the drop-down, and enter the code for the new nominal.
Click Next.

*To add additional categories to this list, go to System Setup > Finance > Setup Nominal Categories.

On the next page, select whether you'd like to enter an opening balance or not and click Next.

• If you select ‘No’, you will be presented with a summary of your new nominal code. If you are happy with the setup, click Save. If you need to amended anything, click Previous and make any corrections before saving.
• If you selected to add an opening balance, you will now be asked to select either debit or credit, and then enter the amount and details in the boxes below. Click Next to see a summary of your new nominal code, and Save.