Summary
How to use the Nominal Activity report in Sage Accounting.
Resolution
The Nominal Activity report is a summary of your ledger account balances for a specific period of time.This report also opens to show account details when you drill down from the Balance Sheet, Profit and Loss, and Trial Balance reports.
Why is it important?
The Nominal Activity report gives you an overview of your nominal account balances. It's important for spotting balances that look wrong, where it may be too high or too low. This helps you to find accounting errors and fix them.
The Nominal Activity report is also important for forecasting and analysis. For example, you may run a report of this year’s balances and one of last year’s balances to compare costs, expenses, and income. This data is critical for budgeting and helping you make important financial decisions about your business.
What's on the report?
The Nominal Activity report shows the opening and closing balance as well debit and credit balances for each account.
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