How To: Create Nominal Accounts

Table Of Contents

Introduction
Company Nominals
Sales Nominals
Bank Control Accounts
Nominal Account Hierarchy
Duplicate Nominal Codes
Post Header Totals Only (Sales)
Related Articles

Introduction

Nominal accounts are used throughout Khaos Control to categorise financial transactions and determine how data is reported within your accounts.
This article explains how to create a new nominal account and provides guidance on choosing the correct System Type and Account Type.

Create a Nominal Account

  1. Open an Accounts screen (show me how).
  2. Open the [ Accounts | Nominal Accounts | Nominal Accounts ] tab.
  3. Enter Edit Mode by pressing Alt + E or clicking Edit.
  4. Press F3 or click New to create a new nominal account.
  5. In the Code column, enter the nominal code.
  6. In the Description column, enter a meaningful description for the account.
  7. In the System Type column, press F4 and select the appropriate System Type.
    For more information about available System Types, see the Accounts Glossary.
  8. In the Account Type column, press F4 and select the appropriate Account Type.
  9. Press Ctrl + S or click Save.
The nominal account is now available for use.

Choosing the Correct Account Type

The Account Type determines how a nominal account behaves and where it is used within Khaos Control.

Company Nominals

For most non-sales and non-purchase nominal accounts, the Account Type is typically set to Company.
Examples include:
  • Overheads
  • Administrative expenses
  • Asset accounts
  • Liability accounts
  • Equity accounts

Sales Nominals

Sales nominal accounts can be mapped to:
  • Manufacturers
  • Stock Types
  • Individual Stock Items
  • Geographic sales regions
For more information, see:

Bank Control Accounts

If you are creating a nominal account for a bank account, additional setup is required to link the nominal account to the bank record.
For more information, see:

Important Notes

Nominal Account Hierarchy

Khaos Control uses a nomination hierarchy when deciding which nominal account should be used when posting sales and purchase transactions.
For more information, see Nominal Account Hierarchy.

Duplicate Nominal Codes

Nominal codes must be unique.
  • If you create a nominal code that already exists, Khaos Control will display a warning when you save.
  • You can either choose a different code or acknowledge the warning and continue where permitted.
  • In newer versions of Khaos Control, duplicate nominal codes are not allowed.
Important: If duplicate nominal codes existed before upgrading to a version that enforces unique codes, attempting to save those records may generate a warning and prevent the changes from being saved until the duplication has been resolved.

Post Header Totals Only (Sales)

If Post header totals only (Sales) is enabled within [ System Values | Accounts | General | General ], the following sales nominal mappings cannot be used:
  • Manufacturer Sales Nominals
  • Stock Type Sales Nominals
  • Stock Item Sales Nominals

Result

The nominal account is created and available for posting transactions and reporting within Khaos Control.
Any additional configuration required, such as bank account mapping or sales nominal allocation, can be completed using the related articles below.

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