Creating a Core Nominal

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Some Of the nominals and ledgers used in this topic may be different to those in your chart of accounts.

When creating a new nominal, the numerical part of the nominal (the core) must be created first. It is strongly recommended that you maintain the chart of accounts number ranges. For example, in the Education Standard, if you want to create a new nominal for catering, it should be within the range 5000-5099.

1. Select Maintenance, then select Keylists from the menu.
   
2. The Keylist Maintenance window is displayed. Select NOMINALS - Core Nominals from the left-hand panel. To create the nominal core, select ADD NEW, then select KEY.
   
3. A <New item> is displayed in the centre NOMINALS - Core Nominals panel and automatically selected. Enter the nominal code (4 digits in a nominal code structure) in Key, then enter the title for the nominal in Title. In the following example, 2999 , and Apprenticeship Levy, have been entered.
   
4. The remaining fields can be left blank. The Text field can be used to set the default VAT rate for the nominal if required (e.g. X, Z, R) , then select SAVE to confirm the key.
   
5. An Update complete message is displayed. Select OK to close the message and return to the previous window.
   
6. Once the core nominal has been created, you can now continue to create the nominal account as described in Creating a Nominal.