Accounts Nodes and Nominal Classifications
There are two ways in which transactions or sets of transactions can be grouped together:
- Nodes
- Nominal Classifications
Nodes
Nodes are used to group together different nominals, usually for analysis purposes. Nodes are set up in the [ Accounts | Nominal Accounts | Nominal Accounts ] tab. The following How Tos describe how to set up and use nodes:
Nominal Classifications
Nominal Classifications are set up in [ System Data | Accounts | Nominal Account Classification ] where a list of all current nominal classifications can be viewed, see How To: Setup nominal classifications in System Data. The term 'Nominal Classifications' is interchangeable with the term 'Cost Centres', for example these could be used to analyse costs by department:
- Marketing
- Sales
- Training
Every individual transaction can be assigned a nominal classification. There are a number of different places where a transaction can be assigned a nominal classification:
- SP Ledger a nominal classification can be added for each SP Ledger entry.
- Journal templates a nominal classification can be added for each journal entry.
- The context menu option Assign Nominal Classification in the
[ Accounts | Nominal Accounts | Transaction Details Grid ]. - Nominal Classifications can also be assigned to stock items on their
[ Stock | Detail | Accounting ]tab, so that the system will automatically assign to a classification when a purchase invoice or sales invoice is posted with that stock item on it. - Nominal Classifications can also be assigned to suppliers on their
[ Suppliers | Detail |Financial ]screen, so that advertisements placed in a trade magazines could, for example, be associated with the "Marketing" nominal classification.
Nominal classifications can be analysed via the Profit and Loss screen, see How To: View Nominal Classification information.