Nominal codes are records that track the different types of income and expenditure for your business, for example, bank charges, petrol or sales. The chart of accounts controls how these nominal codes are grouped in your accounts, for example, which codes are sales and which codes are assets and so on.

For many businesses the standard nominal codes are sufficient, but if you want to you can easily create or import new nominal codes or rename existing ones. If you do this, you must also ensure your new code is in the relevant area of the chart of accounts.

TIP: Bank accounts are also nominal codes, but the steps to create a new bank account are slightly different. Read more >

Create a new nominal code

1. On the navigation bar, click Nominal codes, then click New.
   
   NOTE: To specify a nominal code category, use the Wizard option.
   
   
2. In N/C enter the new nominal code.
   
   If you get the message, 'This nominal code is outside the range of the chart of accounts..' you must ensure it's in the relevant area of your chart of accounts.
   
   
3. In Name, enter the name of the new nominal code.
4. Click Save, then click Close.

Find out more about the nominal record >

Rename a nominal code

1. On the navigation bar click Nominal codes.
2. Click the required nominal code so it is highlighted, then click Edit.
   
   
   
   
3. Change the Name.
4. Click Save then click Close.

Import a nominal code

If you already have your nominal code details in an Excel spreadsheet or CSV file, to save time you can import the records into Sage 50 Accounts.