Create a New Nominal Account

Create a New Nominal Account

Overview  

This video will show you how to set up a new nominal account in Khaos Control Cloud. A step by step guide can be found below the video.


Steps 

  1. In Accounts, click on Nominal Account Setup.
  2. Enter Edit Mode.
  3. Use the New button to add a new line for your Nominal Account.
  4. Add a Code and Description for the Nominal.
  5. Select a System Type from the drop down. This controls where on the P&L or Balance Sheet the Nominal will appear.
  6. Select an Account Type from the drop down to determine where the Nominal will be mapped to in the system. Non-sales nominals are usually mapped to Company.
  7. Sales Nominal mapping will then need to be completed in the appropriate area of the system, see Mapping Sales Nominals.