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Nominal Codes are used to group similar Fees postings together.
To create a new Nominal Code:
Log into Fees Ledger.
Select File.
Select Nominal Codes.
Click New to create a new nominal code.
The nominal account screen displays.
The following information will need to be entered to create a new nominal code:
The Nominal account code is the code that the Nominal Code will be recognised by when being used. The Nominal account code must be unique.
The Nominal account code can be changed at a later date. All information will remain with the associated nominal code.
To export nominal postings the 'nominal account code' may need to be setup in a specific way.
This is a brief description of the Nominal Account. For example, the description for invoice postings may be Professional Fees.
Select whether the nominal code applies to the balance sheet or profit or loss account. For example, Professional Fees will be a revenue item and bank receipts can be recorded as balance sheet.
Click here for further information.
Click Insert to update the system, to abandon the information you have entered, click Cancel.
Introduction to the nominal ledger
Edit / change a nominal code
Default nominal codes for Fees postings - reference
Default nominal codes for Fees Postings - help topic
Nominal Postings report
Export nominal postings
How nominal postings work for a low turnover business
How nominal postings work with proforma invoices
How nominal postings work for a firm that declares VAT on invoices
Practice Types