Nominal codes, Cost Centres and Department Codes are ways of labelling different transactions that have financial consequences (such as PO’s, SO’s etc) so that the accounting package can produce reports filtered by these.
A nominal account is a single figure that is an amalgamation of the Nominal Code, Cost Centre and Dept. code.
Nominal Codes can be set up for Stocked Parts, Stock Categories (for purchasing), Customers and for sales invoices and purchase invoices.
Nominal Account setup
Navigate to Options.
Click on System Maintenance.
Select System Settings.
Click on General System Settings. The following options will be available:
Nominal Codes
Nominal Cost Centres
Nominal Departments
Nominal Accounts
This is where these can be set up. Selecting these and pressing CTRL+M and then F4 will allow the user to add new ones. F3 will delete any unneeded ones.
Nominal Accounts can have descriptions. This is the place where they can be added.
Stocked Parts
On the Stocked Parts screen, Nominal tab there is the 'Nominal Account Control' button.
This sets the defaults for all the Stocked Parts for different customer groups.
This can also be reached from:
Sales
Sales Invoice Menu
Nominal Account Control.
Notice the section on the right, that changes the way the nominal code is changed the ‘?’ on the far right provides information.
It is also possible to tick the tick box and then change parts from the default. These are not changed if the defaults are changed.
Add nominal codes to Stock Categories via the following steps:
Select Stock
Select Stock Maintenance Menu
Select Stock Categories
Customer Nominal Code
Also, on the Nominal Account Control, there is the “Customer Nominal Accounts” button . Selecting this will allow the Nominal codes for customers to be set up.
These will be applied only if there is no Part or Product Group override.
Please select the following to change the default nominal code for customers:-
Select Sales
Select Sales Invoice Menu
Select Nominal Account Control
Click Customer Nominal Accounts
Select relevant customer and press Crtl + M
amend nominal account code
Click OK
The default nominal code for Sales Charges can be amended from Nominal Account Control via the following steps:
Select Sales
Select Sales Invoice Menu
Select Nominal Account Control
Enter a nominal code in the field Sales Charges for home, EC and export customers
NOTE: Entering a nominal code in the Sales Charges field is mandatory
Product Group Nominal Codes
The only way to set these up is to find a Stocked Part which is included in a Product Group and then Press F5 On the Nominal group.
These can be set up as before.
Translation tables
It is possible that the nominal codes set up within FM are different to the ones set up in the accounts package (such as Sage or Dimensions). In this case, translation tables can be used to keep the two systems aligned. Below are the places to find this for Purchase and Sales Invoices. Note that for some accounts packages there will also be a Cost Centre Translation table.