Updating the Nominal Straight Away

Nominal Update

There are 3 possible ways to update the nominal. Both 'Condensed' and 'Expanded' have to started by the user - so the nominal (Profit & Loss, Balance Sheet etc) will not contain the Sales and Purchase figures. The third method is 'Straight Away' which updates the nominal with the Sales and Purchase values at the time of the Sales or Purchase Transaction.

Make sure you are fully aware of the implications of changing this before you do.

• 'Expanded' and 'Straight Away' produce the same results, each Sales and Purchase transaction is broken down into individual nominal journals.
  • 'Straight Away' is the software default.
• 'Condensed' will combine all the nominal journals together into one single posting. This method is NOT advised for the average set up as it makes any errors in the journal almost impossible to find and nothing is fully audited.

Method

Go to "Reports & Parameters" -> "Maintenance Options" -> "System Administrator" -> "System Parameters" -> "Page 1"

• Change "Nominal Update Style" to 'S'.
• Pressing <Esc> will save any changes.

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Keywords AND Misspellings

updating nominal ledger