Create a nominal code

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

Most businesses can use the standard nominal codes. If you need more, you can create or import them. Ensure you add any new codes into the correct area of the chart of accounts.

Create a new nominal code

1. Go to Nominal codes then select New.
   
   TIP:

   To specify a nominal code category, use the nominal codes 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. Select the appropriate Income Tax Category if using v34 or above.
5. Press 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