{"id":21522,"date":"2021-08-20T15:17:41","date_gmt":"2021-08-20T14:17:41","guid":{"rendered":"https:\/\/bigredcloud.com\/?post_type=docs&p=21522"},"modified":"2022-10-20T11:30:11","modified_gmt":"2022-10-20T10:30:11","password":"","slug":"nominal-accounts","status":"publish","type":"docs","link":"https:\/\/bigredcloud.com\/en\/documents\/nominal-accounts\/","title":{"rendered":"Nominal Accounts"},"content":{"rendered":"

You will need the information listed below for\u00a0each Nominal Account you wish to set up. This list is followed by step-by-step instructions on how to enter this information.<\/p>\n

Nominal Code.<\/strong><\/p>\n

You must assign a unique code to each Nominal Account. \u00a0Codes can be up to 4 characters long and consist of any combination of numbers, letters or other keyboard characters. \u00a0If you are already using a coding system you may wish to retain it. \u00a0If you wish to set up new codes it is suggested that they be purely numeric in the range 000 to 999, as used in the default Chart of Accounts, where the first digit represents the type of account.<\/p>\n

Description.<\/strong><\/p>\n

Give each account the title\/description you wish to see used in the Nominal Ledger Reports. Although you may use up to 40 characters in each description, it is recommended that whenever relevant you use the accepted shorthand, e.g.<\/em>\u00a0Prov\u2026 to indicate\u00a0Provision for\u2026 and\u00a0Depn\u2026to indicate\u00a0Depreciation of\u2026 etc.<\/em><\/p>\n

Group.<\/strong><\/p>\n

Each account must be assigned to a group. \u00a0There are 13 groups in all and they are shown on a drop-down list. \u00a0The nature and purpose of each account should determine which group you select. These groups are used for the Nominal Ledger Reports. \u00a0The table below shows where and in what sequence each group appears.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Group.<\/strong><\/td>\nNominal Ledger Report.<\/strong><\/td>\n<\/tr>\n
Sales.<\/td>\nTrading, Profit & Loss.<\/td>\n<\/tr>\n
Cost Of Sales.<\/td>\nTrading, Profit & Loss.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
Overheads.<\/td>\nProfit & Loss.<\/td>\n<\/tr>\n
Distribution.<\/td>\nProfit & Loss.<\/td>\n<\/tr>\n
Financial.<\/td>\nProfit & Loss.<\/td>\n<\/tr>\n
Establishment.<\/td>\nProfit & Loss.<\/td>\n<\/tr>\n
Selling.<\/td>\nProfit & Loss.<\/td>\n<\/tr>\n
Other Income.<\/td>\nProfit & Loss.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
Fixed Assets.<\/td>\nBalance Sheet.<\/td>\n<\/tr>\n
Current Assets.<\/td>\nBalance Sheet.<\/td>\n<\/tr>\n
Current Liabilities.<\/td>\nBalance Sheet.<\/td>\n<\/tr>\n
Long Term Liabilities.<\/td>\nBalance Sheet.<\/td>\n<\/tr>\n
Capital & Reserves.<\/td>\nBalance Sheet.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

To Set Up A Nominal Account:<\/strong><\/p>\n

1. \u00a0 \u00a0 \u00a0 \u00a0Select the\u00a0Nominal\u00a0tab in Lookup.<\/p>\n

2. \u00a0 \u00a0 \u00a0 \u00a0On the screen with the Nominal Accounts, click the\u00a0Add\u00a0button.<\/p>\n

\"\"<\/p>\n

 <\/p>\n

3. \u00a0 \u00a0 \u00a0 \u00a0Following the guidelines described above, fill in the form that appears on the screen and click on\u00a0Save.<\/p>\n

Deleting A Nominal Account:<\/strong><\/p>\n

A Nominal Account cannot be deleted whilst transaction activity remains on it even though the balance might be zero.<\/p>\n","protected":false},"excerpt":{"rendered":"

You will need the information listed below for\u00a0each Nominal Account you wish to set up. This list is followed by…<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"footnotes":""},"doc_category":[212],"doc_tag":[],"class_list":{"0":"post-21522","1":"docs","2":"type-docs","3":"status-publish","5":"doc_category-nominal"},"year_month":"2026-04","word_count":347,"total_views":0,"reactions":{"happy":0,"normal":0,"sad":0},"author_info":{"name":"apathak","author_nicename":"apathak","author_url":"https:\/\/bigredcloud.com\/en\/author\/apathak\/"},"doc_category_info":[{"term_name":"Nominal","term_url":"https:\/\/bigredcloud.com\/en\/docs-category\/nominal\/"}],"doc_tag_info":[],"yoast_head":"\nNominal Accounts - Big Red Cloud<\/title>\n<meta name=\"description\" content=\"You will need the information listed below for\u00a0each Nominal Account you wish to set up. This list is followed by step-by-step instructions on how to enter\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bigredcloud.com\/documents\/nominal-accounts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nominal Accounts\" \/>\n<meta property=\"og:description\" content=\"You will need the information listed below for\u00a0each Nominal Account you wish to set up. This list is followed by step-by-step instructions on how to enter\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bigredcloud.com\/documents\/nominal-accounts\/\" \/>\n<meta property=\"og:site_name\" content=\"Big Red Cloud\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SimpleOnlineAccounts\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-20T10:30:11+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/bigredcloud.com\/wp-content\/uploads\/2021\/08\/AddNominalAcc.jpg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@BigRedCloud\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Nominal Accounts - Big Red Cloud","description":"You will need the information listed below for\u00a0each Nominal Account you wish to set up. This list is followed by step-by-step instructions on how to enter","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/bigredcloud.com\/documents\/nominal-accounts\/","og_locale":"en_US","og_type":"article","og_title":"Nominal Accounts","og_description":"You will need the information listed below for\u00a0each Nominal Account you wish to set up. This list is followed by step-by-step instructions on how to enter","og_url":"https:\/\/bigredcloud.com\/documents\/nominal-accounts\/","og_site_name":"Big Red Cloud","article_publisher":"https:\/\/www.facebook.com\/SimpleOnlineAccounts","article_modified_time":"2022-10-20T10:30:11+00:00","og_image":[{"url":"http:\/\/bigredcloud.com\/wp-content\/uploads\/2021\/08\/AddNominalAcc.jpg","type":"","width":"","height":""}],"twitter_card":"summary_large_image","twitter_site":"@BigRedCloud","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/bigredcloud.com\/documents\/nominal-accounts\/","url":"https:\/\/bigredcloud.com\/documents\/nominal-accounts\/","name":"Nominal Accounts - Big Red Cloud","isPartOf":{"@id":"https:\/\/bigredcloud.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/bigredcloud.com\/documents\/nominal-accounts\/#primaryimage"},"image":{"@id":"https:\/\/bigredcloud.com\/documents\/nominal-accounts\/#primaryimage"},"thumbnailUrl":"http:\/\/bigredcloud.com\/wp-content\/uploads\/2021\/08\/AddNominalAcc.jpg","datePublished":"2021-08-20T14:17:41+00:00","dateModified":"2022-10-20T10:30:11+00:00","description":"You will need the information listed below for\u00a0each Nominal Account you wish to set up. This list is followed by step-by-step instructions on how to enter","breadcrumb":{"@id":"https:\/\/bigredcloud.com\/documents\/nominal-accounts\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/bigredcloud.com\/documents\/nominal-accounts\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/bigredcloud.com\/documents\/nominal-accounts\/#primaryimage","url":"http:\/\/bigredcloud.com\/wp-content\/uploads\/2021\/08\/AddNominalAcc.jpg","contentUrl":"http:\/\/bigredcloud.com\/wp-content\/uploads\/2021\/08\/AddNominalAcc.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/bigredcloud.com\/documents\/nominal-accounts\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/bigredcloud.com\/en\/"},{"@type":"ListItem","position":2,"name":"Docs","item":"https:\/\/bigredcloud.com\/en\/documents\/"},{"@type":"ListItem","position":3,"name":"Nominal Accounts"}]},{"@type":"WebSite","@id":"https:\/\/bigredcloud.com\/#website","url":"https:\/\/bigredcloud.com\/","name":"Big Red Cloud","description":"Online Accounting Software","publisher":{"@id":"https:\/\/bigredcloud.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/bigredcloud.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/bigredcloud.com\/#organization","name":"Big Red Cloud","url":"https:\/\/bigredcloud.com\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/bigredcloud.com\/#\/schema\/logo\/image\/","url":"https:\/\/bigredcloud.com\/wp-content\/uploads\/2025\/07\/unnamed-1.png","contentUrl":"https:\/\/bigredcloud.com\/wp-content\/uploads\/2025\/07\/unnamed-1.png","width":512,"height":512,"caption":"Big Red Cloud"},"image":{"@id":"https:\/\/bigredcloud.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/SimpleOnlineAccounts","https:\/\/x.com\/BigRedCloud","https:\/\/www.linkedin.com\/company\/big-red-cloud\/?originalSubdomain=ie"]}]}},"_links":{"self":[{"href":"https:\/\/bigredcloud.com\/en\/wp-json\/wp\/v2\/docs\/21522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bigredcloud.com\/en\/wp-json\/wp\/v2\/docs"}],"about":[{"href":"https:\/\/bigredcloud.com\/en\/wp-json\/wp\/v2\/types\/docs"}],"author":[{"embeddable":true,"href":"https:\/\/bigredcloud.com\/en\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/bigredcloud.com\/en\/wp-json\/wp\/v2\/comments?post=21522"}],"version-history":[{"count":0,"href":"https:\/\/bigredcloud.com\/en\/wp-json\/wp\/v2\/docs\/21522\/revisions"}],"wp:attachment":[{"href":"https:\/\/bigredcloud.com\/en\/wp-json\/wp\/v2\/media?parent=21522"}],"wp:term":[{"taxonomy":"doc_category","embeddable":true,"href":"https:\/\/bigredcloud.com\/en\/wp-json\/wp\/v2\/doc_category?post=21522"},{"taxonomy":"doc_tag","embeddable":true,"href":"https:\/\/bigredcloud.com\/en\/wp-json\/wp\/v2\/doc_tag?post=21522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}