Nominal Ledger

The Nominal Ledger captures, analyses and reports all financial transactions providing accurate up to the minute reporting on Trial Balance, Departmental Profit, Branch Profit, Profit and Loss and Balance Sheet with full foreign currency support. All transactions posted to the Sales and Purchase Ledgers also post, at the same time, to the nominal ledger. Accruals generated from advice notes, for parts and machinery, also post to the nominal ledger. Stock adjustments and stock transfers post to the nominal ledger as do parts and machinery write-downs. In short, anything that affects the assets/liabilities or trading accounts of the company is automatically posted to the nominal ledger. All postings are under user control, either directly by specifying a nominal account when posting an invoice or journal, or by allocating account numbers in the invoice mapping or Company Control Files.

Nominal accounts can be used to provide a detailed analysis of all aspects of the business. The level at which there is split of sales activity in the Nominal Ledger is entirely flexible. This is controlled by invoice mapping set up in the back office. Once the mapping is complete the transactions post to the desired nominal accounts with no operator intervention required. Budgets can be held against individual nominal accounts and key reports compare performance to budget and the previous year.

A comprehensive range of reports are available including a nominal report generator, this gives each company the ability to generate their own bespoke nominal reports and level of analysis. All the nominal reports are integrated with Excel. Using this feature, many customers use Excel as a final presentation tool for monthly management accounts.

The accounting system is driven by a combination of date and accounting period, handles late transactions from a closed prior accounting period affecting the management figures that have been produced. This principle gives a true cut-off at month end.

Key features are:

• Full integration with all other modules
• History transactions stored for up to 8 years
• Transaction types are mapped in the back office and subsequent postings become automatic
• Create auto reversing Accrual and Prepayment Journals
• Perform automatic reconciliations of the Sales and Purchase Ledger Control and VAT Accounts
• The nominal account number structure allows for departmental, depot and consolidated reporting
• The Nominal Ledger has full multi currency support and the account enquiry will display both base and foreign currency values
• Exchange rates may be changed as required and a Currency Revaluation program can revalue accounts to the new rate and account for any loss/gain
• Manual Nominal Journals may be entered and standard journals created for recurring transactions
• Fixed Asset Register - maintains a log of all fixed assets by department and branch, depreciating them automatically through a monthly routine with full audit trail