The advanced nominal ledger setup, often called Chart of Accounts setup is commonly used to enable larger organisation divisions and departments to control nominal codes, in a more functional manner.
Creating nominal codes
To create a nominal code and set them up on char of accounts:
Click Financials then select Settings.
Select Categories then select the relevant category.
Click Edit then click Insert New Record.
Complete the relevant fields then click Save.
In these sections you can create any codes that you can use multiple times.
Applying the new categories, nominal accounts:
Click Financials then select Chart of Accounts.
Note: The Chart of Accounts screen opens in View Mode with all the nominal accounts collapsed.Set the screen into Build Mode by moving the toggle button at the top of the screen to the right.
Click on the relevant category listed above the Select All column on the left-hand side of the screen.
Select the check box in front of the newly added category.
On the right-hand side panel select the check box for the level that you want to add the new category to
Note: This action will set the Add button to be enabled.Click on the Add button to add your category from the left to the right-hand side.
Click on the Build button at the bottom of the screen and populate the Specify Default Accounts, then click Save.