Check Bank Nominal Availability

This guidance is only for IRIS Financials Version 7.0.2223 or later. If using version 7.0.2103 or earlier, go to Creating a new bank account.

The 9400-9409 nominal codes are used for bank accounts.

Before adding an account in IRIS Financials for your bank accounts, you must check if a bank account nominal code is available for the required location.

If all the bank nominal codes are linked to a bank account, an additional core nominal code must be created.

1. Go to Maintenance, then select Nominals.

2. For the relevant location, find the 9400-9409 codes.

   If all the bank nominal codes are displayed, either a bank account that is no longer in use must be closed so you can use the code again, or an nominal code outside of the range that is not being used must be created and used.

3. If all the codes in the range are not displayed:
   1. Create the core nominal code.
   2. Add the nominal account, with the following details: 
      • In General:
        • From Type, select Balance Sheet
        • From Initial State, select Open External

      • In Indices, select NOMTYPE - Nominal Type, then B/S - Balance Sheet

        If you have the latest EFA Budget Forecast index, select it, then from Values, select Cash at bank and in hand.

      • In Analysis, complete all the options. The typical options are: 

      • Analysis Field	What to choose
        Location	The location the bank account is for
        CoreNominal	The code of the nominal the bank account is linked to
        Management Reporting	Select Cash at Bank and in Hand
        CFR	Select Balance Sheet
        SOFA	Select Cash at Bank or in Hand
        EFA Benchmark Return	Leave blank
        EFA Budget Forecast	Select Mapping/Analysis Required

4. Next, set up the account in IRIS Financials for the bank account.