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Populate the Settings tab for a nominal account record

A guide to completing the Settings tab for a nominal account record, covering reporting codes, P&L year end codes, inactive status, and budget settings.

You can add in extra information for the nominal account that you are creating on the Settings Tab, like Reporting Codes and also identify a P&L Year End Code.

The Settings section explained:

Option

Description

Reporting Code

  • Compulsory field and on creating a new account, the Reporting Code matches the Major Heading selected on the Detail Tab.

  • Can be changed manually.

Inactive

P&L Year End Code

  • Compulsory for any P&L accounts.

    • This is only applicable to nominal accounts which form part on the Profit and Loss reports, where the Major Heading is in the range of 1 to 6.

  • Can only be set to a Balance Sheet type account, where the Major Heading is in the range of 7 to 12 where currency matches.

Allow Zero Budgets

  • Selected as default.

  • When this checkbox is selected, the account will always be included in the P&L and Balance Sheet Summaries enquiries.

Related Articles
Check the year end nominal account balance
Major Headings explained
Populate the Custom tab for a nominal account record
Populate the Details Tab for a nominal account record
Set a nominal account to be inactive
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