Learn How to Create New Nominal Codes in Sage 200
Nominal accounts are the core of the Sage 200 system and you won’t get very far without setting them up!
During the ‘Go Live’ phase with us, our consultants will usually import or create these accounts for you as part of the project.
While it might not be something you do often, as your business evolves, you may find yourself in a situation where you need a new account set up.
That’s why in this Tip of the Week, we show you step-by-step how to create new nominal codes within Sage 200.
Setting Up New Nominal Codes
Go to Nominal Ledger > Nominal Accounts > Enter New Account.
- Code: Manually enter a new code.
- Cost Centre: Select from drop down.
- Department: Select from drop down.
- Choose whether the account is Posting, Group or Memo.
- Report Category: Used to indicate if the account is a Balance Sheet or Profit and Loss.
- Display A/C balance in Nominal Selection Box: Tick this to show balance in list views.
- Use batch postings: If you tick this box, the total of postings made to this account during the Nominal Ledger update routine will be shown as one transaction on the account.
- Allow manual journal entries: Ticked by default. Untick if you do not wish to allow this option.
- Keep Transactions For: Number of months to store transactions against the account.
Budgetary information can be added in the ‘Budget This Year’ and ‘Budget Future Years’ tabs, along with any attachments or memos you wish to store against this nominal code.
NB: Be advised that the information/accuracy in this article may differ depending on which version of Sage 200 you use, as a result, some options and processes might look different. For all support queries please email sagesupport@pkfscs.co.uk.
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