What is a nominal code?
From Catalyst
Summary
This article explains the purpose of nominal codes.
More Information
Nominal Codes make up the detail of your Nominal Ledger. The purpose of your Nominal Ledger is to provide you with management accounts to control your business and plot your way forward.
Your management accounts are made up of the Balance Sheet and the Profit & Loss, and the Nominal Codes are the constituents of these reports.
Examples include : Bank Account, Debtors, Creditors, Sales, Purchases, Rent, Wages.
See also
- How do I Create a Nominal Code?
- How do I Print a List of Nominal Centres?
- 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?
