What is a nominal code?

From Catalyst
Revision as of 15:21, 25 January 2013 by Richard Green (talk | contribs) (See also)
Jump to: navigation, search

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


Feedback
Thank you for using our Knowledge Base, we value your feedback. Did you find this article useful? 'Yes' or 'No'
Keywords AND Misspellings
Cost Centre, Nominal Code, Centre, Search