What is a nominal code?
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Revision as of 09:22, 23 September 2008 by Charles Allison (talk | contribs) (New page: == 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 ...)
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.
