Nominal codes track different types of income and expenses in your business, for example bank charges, petrol or sales. The chart of accounts groups the nominal codes together into sections which make up your Balance sheet or Profit & Loss.  

Standard nominal codes suffice for many businesses, but you can create or import new nominal codes as needed. Ensure any new codes are in the correct area of the chart of accounts.

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

Create a new nominal code

1. Go to Nominal codes then select 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..', ensure it's in the correct area of your chart of accounts.
   
   
3. In Name, enter the name of the new nominal code.
4. Click Save then Close.

Import a nominal code

To save time, import your nominal codes from an Excel spreadsheet or CSV file.  

• The Nominal record
• Rename a nominal code