Example Nominal Code Structure
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Below is a suggested nominal account code structure.  Nominal account codes beginning 000 belong to the Balance Sheet and those beginning 001 are Profit & Loss.  The middle three digits of a nominal code denote the section it belongs to.  The sections are displayed as bold headings in the first column, e.g. Fixed Assets (010), Current Assets (020), Liabilities (030) etc. The final four digits are the cost code, their descriptions are shown in the first column, e.g. Fixtures and Fittings (0100), Debtors (0200), V.A.T. (0310) etc. The suggested structure allows for the easy insertion of new nominal codes into the numerical gaps, to maintain a logical sequence .  E.g. if a new bank account is added, it could be given code 000/020/0211 to fit in after the existing bank account.  These codes are simply a suggestion, you probably already have your own nominal code numbering sequence in place. 

  
BALANCE SHEET
 
 
Nominal description
Nominal code
CR/DR
FIXED ASSETS
 
 
Fixtures and Fittings
000/010/0100
DR
Plant and Machinery
000/010/0110
DR
Motor Vehicles
000/010/0120
DR
Depreciation Of Fixtures
000/010/0130
CR
Depreciation Of Plant and Machinery
000/010/0140
CR
Depreciation Of Motor Vehicles
000/010/0150
CR
 
 
 
CURRENT ASSETS
 
 
Debtors
000/020/0200
DR
Bank
000/020/0210
DR
Stock
000/020/0220
DR
Petty Cash
000/020/0230
DR
Prepayment Control Account
000/020/0240
DR
 
 
 
LIABILITIES
 
 
Creditors
000/030/0300
CR
V.A.T.
000/030/0310
CR
Credit Card
000/030/0330
CR
Loans
000/030/0340
CR
Accrual Control Account
000/030/0350
CR
 
 
 
CAPITAL & RESERVES
 
 
Capital Introduced
000/090/0900
CR
Profit Retained
000/090/0920
DR
Suspense
000/090/0920
CR

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PROFIT & LOSS
 
 
Nominal Description
Nominal Code
CR/DR
SALES
 
 
Stationery
001/100/1000
CR
Furniture
001/100/1010
CR
Printing
001/100/1020
CR
Carriage
001/100/1030
CR
Discount Given
001/100/1900
DR
 
 
 
COST OF SALES
 
 
Stationery
001/200/2000
DR
Furniture
001/200/2010
DR
Printing
001/200/2020
DR
Carriage
001/200/2030
DR
Discount Taken
001/200/2900
CR
 
 
 
OVERHEADS
 
 
Rent
001/500/5000
DR
Utility Bills
001/500/5010
DR
Maintenance And Repairs
001/500/5020
DR
Wages And Salaries
001/500/5030
DR
Taxes
001/500/5040
DR
Insurance
001/500/5050
DR
Telephone
001/500/5060
DR
Postage
001/500/5070
DR
Advertising
001/500/5080
DR
Computer Equipment
001/500/5090
DR
Vehicle Costs
001/500/5100
DR

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