Skip to main content

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.

Updated over a week ago

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
Did this answer your question?