Difference between revisions of "How do I create a nominal code?"

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== Summary ==
 
== Summary ==
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The following article explains how to set-up a new {{NL}} Centre.
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The following article explains how to create a new {{NL}} Centre.
  
 
== More Information ==
 
== More Information ==
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Get into {{Menu|Accounts\Systems|{{NL}}|Maintenance Options|Centre Maintenance|Insert/Amend/Delete Centres}}.
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Go into {{Menu|{{NL}}|Maintenance Options|Centre Maintenance|Add or Edit Nominal Centres}}.
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*First of all, perform a search to check that the code you wish to create does not already exist.
 
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*Locate a suitable section within your {{NL}} Structure for your new code.
 
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*Click {{Button|Add}}.
 
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*In the Code Box, type in the new {{NL}} Code you require and press {{KeyPress|Enter}}
 
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*Type in a suitable description.
 
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*Choose whether the code is a Balance Sheet or Profit & Loss Centre and indicate the relevant flag as necessary.
 
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*If this centre is to be reconciled (e.g., it's a bank account or any other centre that needs to be reconciled through the Bank Reconciliation) then place a tick in the "Reconciled?" box.
 
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*Choose {{Button|Done}} and {{Button|Accept}}.
 
  
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== See Also ==
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{{Note|text=You may wish to view a list of your current Nominal Centres to decide what your new code should be and where it should sit within your current {{NL}} Structure. You should be aware of the structure used to create your nominal codes - for example if you have a multi-site operation, a certain part of the nominal code will be used to indicate the site automatically.}}
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* [[:Category:Getting Started|Getting Started]]
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* [[Getting Started - Accounts]]
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{{Tip|text=[[Media:PNS.ZIP|This {{Icon|download}}]] article explains the Platinum Nominal Structure in more detail.}}
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* [[What is a Nominal Code?]]
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* [[How do I Create a Nominal Group?]]
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* Click {{Button|List}} to view all centres. As you move down the list you will see the {{DataPrompt|Type}} of centre is shown on the far right of the screen.
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* [[How do I Apply a Nominal Group to a Nominal Centre?]]
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* In the {{DataPrompt|Filter on}} field, type part of the name of your new Centre to check that it does not already exist. Click {{Button|Search}}.
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* [[How do I Set a Nominal Centre to be Reconciled?]]
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* [[How do I Print a List of Nominal Centres?]]
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When you are ready to add your new Centre:
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* [[How do I Create a Sales or Purchase Centre?]]
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* [[How do I Print a List of Purchase Centres?]]
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* Click {{Button|Add}}.
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* [[How do I Print a List of Sales Centres?]]
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* Enter your new {{DataPrompt|Code}}, (max 6 characters), and press {{KeyPress|ENTER}}. Please be aware of the structure required.
 +
 
 +
{{Tip|iconsize=0.5|text=You may need to speak to your accountant for advice on the numbers to be used and what nominal category to use e.g. Balance sheet - asset\liability for nominal payment centres.}}
 +
 
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{{Note|iconsize=0.5|text=Codes from Z950 upwards are reserved for the system and cannot be used when creating a new code.}}
 +
 
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* Type in a suitable {{DataPrompt|Name}}. This will be printed on your management reports.
 +
* Choose the Balance Sheet or Profit & Loss category relevant to this centre - see below for descriptions of these categories .
 +
 
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* If this centre is to be {{DataPrompt|Reconciled}}, e.g. it's a bank account or any other centre that needs to be reconciled through either the [[Reconciling your bank account|Bank]] Reconciliation or [[How do I reconcile a nominal centre?|Nominal]] Reconciliation options, then select the appropriate option from the drop down menu.
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 +
* Whilst the nominal ledger runs in base currency only it is possible to store a local {{DataPrompt|Currency}} indicator against a Nominal code. You may then view, maintain and adjust transactions in that local currency - see [[How do I reconcile foreign currency accounts?|How do I Reconcile Foreign Currency Accounts?]].
 +
 
 +
* In the {{DataPrompt|Grouping}} section you may specify a [[How do I create a nominal group?|Group]] and/or [[How do I create a nominal group?|Division Code]]. Use the drop down menu to select a group or division [[How do I apply a nominal group to a nominal centre?|code]].
 +
 
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* Click {{Button|Done}} and {{Button|Accept}}.
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=== Categories ===
 +
 
 +
==== Profit and Loss Categories ====
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;{{DataValue|A}} - Sales/Cost of Sales
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:Depending on whether the centre has a credit (-) or debit (+) balance, the code will appear in the Sales or Cost Of Sales area.
 +
;{{DataValue|B}} - Overhead
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:This will be shown in the Overhead area irrespective of the value.
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;{{DataValue|C}} - Sales
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:This will be shown in the Sales area irrespective of the value.
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;{{DataValue|D}} - Cost of Sales
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:This will be shown in the Cost Of Sales area irrespective of the value.
 +
 
 +
==== Balance Sheet Categories ====
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;{{DataValue|A}} - Fixed Asset
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:This will be shown in the Fixed Asset area irrespective of the value.
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;{{DataValue|B}} - Asset/Liability
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:Depending on whether the centre has a debit (+) or credit (-) balance, the code will appear in the Current Assets or Liability area.
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;{{DataValue|C}} - Financed By
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:This will be shown in the Financed By area irrespective of the value.
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;{{DataValue|D}} - Current Asset
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:This will be shown in the Current Asset area irrespective of the value.
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;{{DataValue|E}} - Current Liability
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:This will be shown in the Liability area irrespective of the value.
 +
 
 +
== See also ==
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* [[What is a nominal code?]]
 +
* [[How do I create a nominal group?]]
 +
* [[How do I apply a nominal group to a nominal centre?]]
 +
* [[How do I set a nominal centre to be reconciled?]]
 +
* [[How do I print a list of nominal centres?]]
 +
* [[How do I create a sales or purchase centre?]]
 +
* [[How do I Search for a Nominal Centre?]]
 +
 
 +
{{KB_Tags|reconcile, nominal, centre, create nominal, asses, liability, overhead, sales, cost of sales, balance sheet, profit & loss, profit and loss, p&l, tb, chart of accounts}}
 +
{{FAQ}}{{How}}{{KB_NL}}{{ZN_Accounts}}
  
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{{KB_Tags|Reconcile, Nominal, Centre}}
 
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{{ZN_Accounts}} {{FAQ}} {{KB_NL}}
 
 
{{KB_Ref|GR53}}
 
{{KB_Ref|GR53}}

Latest revision as of 05:31, 2 August 2024

Summary

The following article explains how to create a new Nominal Ledger Centre.

More Information

Go into " Nominal Ledger Maintenance Options Centre Maintenance Add or Edit Nominal Centres".

You may wish to view a list of your current Nominal Centres to decide what your new code should be and where it should sit within your current Nominal Ledger Structure. You should be aware of the structure used to create your nominal codes - for example if you have a multi-site operation, a certain part of the nominal code will be used to indicate the site automatically.
This article explains the Platinum Nominal Structure in more detail.
  • Click [List] to view all centres. As you move down the list you will see the "Type" of centre is shown on the far right of the screen.
  • In the "Filter on" field, type part of the name of your new Centre to check that it does not already exist. Click [Search].

When you are ready to add your new Centre:

  • Click [Add].
  • Enter your new "Code", (max 6 characters), and press <Enter>. Please be aware of the structure required.
You may need to speak to your accountant for advice on the numbers to be used and what nominal category to use e.g. Balance sheet - asset\liability for nominal payment centres.
Codes from Z950 upwards are reserved for the system and cannot be used when creating a new code.
  • Type in a suitable "Name". This will be printed on your management reports.
  • Choose the Balance Sheet or Profit & Loss category relevant to this centre - see below for descriptions of these categories .
  • If this centre is to be "Reconciled", e.g. it's a bank account or any other centre that needs to be reconciled through either the Bank Reconciliation or Nominal Reconciliation options, then select the appropriate option from the drop down menu.
  • Whilst the nominal ledger runs in base currency only it is possible to store a local "Currency" indicator against a Nominal code. You may then view, maintain and adjust transactions in that local currency - see How do I Reconcile Foreign Currency Accounts?.
  • In the "Grouping" section you may specify a Group and/or Division Code. Use the drop down menu to select a group or division code.
  • Click [Done] and [Accept].

Categories

Profit and Loss Categories

'A' - Sales/Cost of Sales
Depending on whether the centre has a credit (-) or debit (+) balance, the code will appear in the Sales or Cost Of Sales area.
'B' - Overhead
This will be shown in the Overhead area irrespective of the value.
'C' - Sales
This will be shown in the Sales area irrespective of the value.
'D' - Cost of Sales
This will be shown in the Cost Of Sales area irrespective of the value.

Balance Sheet Categories

'A' - Fixed Asset
This will be shown in the Fixed Asset area irrespective of the value.
'B' - Asset/Liability
Depending on whether the centre has a debit (+) or credit (-) balance, the code will appear in the Current Assets or Liability area.
'C' - Financed By
This will be shown in the Financed By area irrespective of the value.
'D' - Current Asset
This will be shown in the Current Asset area irrespective of the value.
'E' - Current Liability
This will be shown in the Liability area irrespective of the value.

See also


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Keywords AND Misspellings
reconcile, nominal, centre, create nominal, asses, liability, overhead, sales, cost of sales, balance sheet, profit & loss, profit and loss, p&l, tb, chart of accounts
Tags

GR53

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