If you need help with creating a new nominal record, the Wizard option takes you each step.

The Nominal codes wizard captures key details for the nominal account to help you create a unique record. 

Use the wizard

1. On the navigation bar, go to Nominal codes, then select Wizard.

2. Enter the nominal account details as follows:

   Name	The name of the nominal account, up to 60 characters. TIP: This appears on all financial reports.
   Type	The area you want to assign the nominal account to. The software assigns the nominal account to a specific area in the profit and loss or the balance sheet. By default, these areas cover: Profit and loss: Sales, Purchases, Direct Expenses, Overheads and Taxation Balance sheet: Fixed Assets, Current Assets, Current Liabilities, Long Term Liabilities and Capital & Reserves
   Category	The account category for your new nominal account. Each area in the profit and loss or balance sheet is divided into category accounts. They appear as headings on all financial reports.
   N/C*	A unique reference code used to identify the nominal account. You can't change this once you save the record. The code must be numbers only, between four and eight digits, and be between 0001 and 99999999.  We recommend: The number of digits in a code are consistent. For example, you can't have some with four numbers and others with six You allocate a code so that the nominal account groups with associated accounts. For example, group all your sales nominal accounts within a range. This ensures the software includes the nominal account and appears in the correct financial report
   ITSA Category	Select the relevant ITSA Category from the dropdown list. These then appear when you assign Income Tax categories for Making Tax Digital for Income Tax and Self Assessment.

3. Select Next then to create a nominal account with no opening balance select No, there is no opening balance to enter.

4. Select Create.
   
   To create a nominal account with an opening balance select Yes, I wish to enter an opening balance.

5. Now enter the opening balance details as follows: 

   NOTE:

   Entering opening balances covers various steps to perform in a set order. Unless you're familiar with the opening balance process, we recommend you don't enter an opening balance at this point.

    

   Type	Choose the transaction type associated with the opening balance: Debit balances usually include fixed assets that aren't overdrawn, purchases and overhead accounts such as electricity charges Credit balances usually includes loans and income accounts such as sales
   Date	Enter the date that you want to use for the opening balance.  TIP: This is to be the last day of your previous accounting period.
   Reference	O/Bal is a standard reference and helps to identify opening balance transactions on the audit trail. You can change this if necessary.
   Amount	Enter the gross amount of the opening balance.

6. Select Create.