NLACC

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NLACC.PNG
Name NL Account Codes
Shortcut NLACC
Area Nominal Ledger

See the NOVUS Walkthrough Guide for further information.


NL Account Codes

Here follows a list of the nominal codes (and therefore the nominal accounts) that are set up within the accounting structure.

Nominal codes are assigned against invoice, credit and payment transactions. Each nominal account includes debit and credit transactions, i.e. amounts that go into the pot, and amounts that come out of the pot.


Field Descriptions

Field name Description
Code: The nominal ledger (NL) account code (5 digits).
Description: Free-format account description.
Bal: Either balance (sheet) or P&L must be set to ‘Y’. If the account is a balance sheet account then set this field to ‘Y’ otherwise leave blank.
P&L: Set to ‘Y’ if the account is a profit and loss account, otherwise leave blank. Entries against P&L type accounts are aggregated into the profit and loss account (also called reserves) as specified in the system parameters table as part of the end of year procedure.
Jnl Types: A list of journal types which this account may accept. Journal types should be created in the codes table. User journal types are numeric – system journal types are alpha.
G(+) G(-): The NLFINS (nominal ledger financials- full final accounts balance sheet and P&L program) - allows for the NL account to differ in which group it belongs in the event the resulting figure is either a positive amount or negative amount - see NL groups (double click the G+ or G- column for a description of each code in the list).


NLACC Groups.PNG


For example: if the group is CS - Cost of sales, the NL account, rent may be attributed to the CS group when it is a negative amount G(-) but potentially a different group if the amount is reversed, please consult your accountant.

Stat Code: For statutory accounts


Version

v 5.0.0 – Updated to latest version

v12K - nl_group validation linked to nl_acc type
v11T - First version of this form to use the new style. No other updates except the restyle.