What is the Nominal Code Structure?
Every client that you set up must have a nominal code list. The nominal code list is selected when the client is created.
Once selected, the nominal code list is unique to that client therefore; any changes made will only affect the client in question, although they can be promoted to the organisational level.
Nominal Codes are the accounts selected for recording different types of income and expenditure. All payment and receipt entries will be linked to a Nominal Code. There can be up to 9,999 different nominal accounts, but most companies will only use about 150 and the basic codes are pre-set in Sage.
Nominal codes are set up within the following boundaries:
- 0000-0999 as fixed assets
- 1000-1099 stock
- 1100-1199 debtors
- 1200-1299 bank and cash
- 2100-2399 liabilities
- 3000-3099 capital and reserves
(All Assets and Liabilities are recorded between 0000 and 3999 -these are the figures which appear on the Balance Sheet) - 4000-4999 sales and other income
- 5000-5999 purchases
- 6000-6099 direct labour and direct costs
- 6100-6999 marketing and miscellaneous
- 7000 -7999 overheads
- 8000 – 9997 for end of period adjustments, depreciation, bad debts and other odd expenses
- 9998 is the suspense account and 9999 is for use by Sage only
(All income and expenditure details are recorded between 4000 and 9999 – these are the figures which appear on the Profit and Loss records).
If you are setting up a new Nominal Code, you should enter a number to fit within these boundaries.
