Firstly you should determine what section of the accounts the new nominal
code relates to, e.g. Current Assets, Liabilities, Sales, Overheads and so on.
You can use the trial balance to determine where you want the new nominal
account code to fit in. This will help you decide on the nominal account code
to allocate the new account. You may wish to refer to the explanation of Power-Gx nominal account codes to understand what the ten-digit code
represents.
1. Select Gx Nominal in the toolbar.
2. Choose Account Details from the menu.
3. Enter the ten-digit nominal code for the new nominal account you want to
create. When you enter the code, the names of any parts of the nominal
code that are recognised will automatically fill in, usually the Branch Name
and the Section Name, unless you are creating new ones.
4. Type the names of the new elements of the nominal code, usually only the Cost Code Name.
5. You should also enter the Abbreviated Name for it.
6. Enter an Account Name Sort String for this nominal account. This is a
'quick access code' to allow the easy retrieval of the account if you do not
know or wish to type in the ten-digit nominal account code. The sort string
can be up to six characters long, and where prompted for a nominal
account code, you can type all or part of the sort string to find it.
7. Enter the number of months history to be stored for this nominal account
code.
8. If this nominal account code represents a bank account you should enter
the Bank Account Code & Name. This will allow you to use the bank
reconciliation program to reconcile the bank account that this nominal
account code represents. If this nominal account code does not represent
a bank account, leave the bank details blank.
9. Select the Account Type for this nominal account by click the Debit or Credit radio button. You can refer to the Nominal Ledger Explanation
if
you are unsure whether an account should be a debit or a credit.