Nominal Ledger
The Nominal Ledger provides a summary of all the financial transactions of the business it is controlling. A Trial Balance is available at any time, together with Profit and Loss or Balance Sheet reports.
The Nominal Ledger is updated automatically with double-entry postings from:
The Sales and Purchase Ledgers;
Cash Book;
By entering journal vouchers;
Optionally from Access Payroll or Payroll SE.
Chapter contents
(Category Detail) Overview
ABR Auto Reconcile
ABR Build List
ABR Grouping Selector
ABR Manual Reconciliation
ABR Options
ABR Select Bank File Type
ABR Select Statement
ABR Transaction Search
Access Crystal Reports - Nominal Ledger
Account List
Accounts - Bank
Accounts - Cash
Accounts
Advanced Nominal Ledger
Analysis
Auditors Export File
Auto A/c
Automated Bank Reconciliation
Automated Bank Reconciliation
Bank Details
Budget Transaction report
Budgets
Bulk Receipts
Carbon Accounting
Carbon Classifications
Carbon Emission Groups
Carbon Emissions Budgets
Carbon Set Up
Carbon Sort Keys
Carbon Transactions for Profiled Accounts
Carbon Transactions Pop Up
Carbon Usage Entry
Cash Book Payments
Cash Book Receipts
Cash Book Statement Entry
Cash Book Transfers
Cash Book
Chart - Build
Chart - Detail
Chart of Accounts - Build
Conversions Tables
Currency Transfers
Info.
Journal Types
Journals
Multiple postings for Recurring Journals
Nominal Account Detail Report
Nominal Summary - Introduction
Nominal Transaction Reports
Nominal Transactions
Options - Recurring Journals
Period End
Post Batch
Print Cheques
Profiles
Purchase Ledger Payments
Purchase Ledger Remittances
Purchase Receipt
Reconciliation
Revalue Banks
Sales Ledger Payments
Sales Ledger Receipts
Set Up
Suggested Payments
Transaction Options
Trial Balance, Profit & Loss, and Balance Sheet
VAT Journals
Journal vouchers
Journal vouchers are the originating transactions for journal entries.
They can be entered directly for their own menu options.
Both normal vouchers and vouchers involving VAT can be entered.
They can be posted immediately or sent to the batch for later posting.
Preparation
Before entering Nominal Ledger transactions, you should ensure that the chart of accounts has been prepared and the correct System Control settings have been established.
System Options: On the Ledger Defaults tab check that the accounts are in the correct accounting period.
VAT Rates: Check that the VAT Rates have been entered and are correct.
Trading Currencies: Locate the record for your Home currency and check that the Currency Defaults have been setup correctly.
These are the:
default analysis codes for the Sales and Purchase Ledger transactions,
and the default Nominal accounts and the default stock nominal accounts.
They include the Sales and Purchase Control accounts, the VAT Control account and the Suspense account.
Year End transfer accounts
At least one Year End transfer account should be setup for all your Profit and Loss accounts so that the balance of the retained Profit or Loss is transferred correctly at the year end.