Create Nominals

This guidance is only for IRIS Financials Version 7.0.2223 or later if your organisation has switched on the New security screens. If it is not switched on or using version 7.0.2103 or earlier, go to Creating a Nominal .

CUSTADMIN access only

Before creating a nominal, you must create a core nominal.

Alternatively, rather than creating a core nominal and nominal, if you have an existing nominal that has not been used to post transactions to, you can edit and use that.

  1. Go to Maintenance, then select Nominals.

  2. Select ADD NEW, then NOMINAL.

    If the nominal is using the same settings as an existing nominal, select the relevant nominal, then ADD NEW, then NOMINAL (COPY).

  3. On General:

    1. In Nominal, Enter the code for the nominal (including the three letter location code with the previously created core nominal code).

      If you are creating a nominal to be copied to all locations, enter the master location code).

    2. Enter a meaningful name in Title.
    3. From Type, select the relevant option:
      • Balance Sheet — Is on balance sheet reports and roll over each year
      • Trading — Is on surplus and deficit reports and starts again each year
    4. Select a Ledger to link the nominal to.
    5. To set if a quantity value is required when posting a document to the nominal, select a Quantity option.
    6. Set the Initial State used when documents are posted to the nominal:
      • Open — Documents posted to the nominal are available for allocation immediately
      • Null — Documents posted to the nominal are not available for allocation
      • Hold — Documents are posted with hold status and cannot be allocated or paid until the status is changed to open
      • Open External — Only selected for bank nominals
  4. On Indices, select the relevant indices and the Values.

  5. On Analysis Fields, complete the required fields.

    If you are not sure what settings are required, check a similar nominal code and copy the settings, or select ZZZ and edit when known.

  6. Set the required security for user groups with access.

  7. SAVE the details.