Nominal/General Ledger overview

This product includes a full Nominal/General Ledger. All payments, invoices, credits and journals entered are posted to one or more Nominal accounts. All postings can be looked at in detail and also summarised using the "Generate Nominal Balances" option to create totals for a specified month.

All Nominal Accounts are numberic. Numbered from 1000 to 9999. They are created using various options in accommres - " Accommodation Types",

This Nominal Ledger is fully integrated to the Debtor and Creditors Ledgers.

Profit & Loss, Income 1000 - > 6999

Profit & Loss, Expenditure (Cost of Sales) 7000 -> 7999

Profit & Loss, Expenditure 7000 -> 7999

Balance Sheet, Sales Taxes 8000 -> 8999

Balance Sheet, Everything else 9000 -> 9989

Balance Sheet, Rounding errors and Missing accounts -> 9990 and 9999

Nominal options

Accounts

Accounts report

Journal entry

Analysis listing

Generate balances

Trial balance report

Annual report

Banking report

Transfer report

Sales Tax report

Revenue codes

Budgets

Chart of Accounts

Automatically created accounts

When accommres is first run (for any given company) a group of Nominal Accounts are automatically created. Any accounts which are not relevant to your business can be made "not Active" using the "Nominal Accounts" option.

Income (Profit & Loss)

5001 Meals - Adults, Bed and Breakfast

5002 Meals - Children, Bed and Breakfast

5003 Meals - Infants, Bed and Breakfast

5011 Meals - Adults, Half Board

5012 Meals - Children, Half Board

5013 Meals - Infants, Half Board

5021 Meals - Adults, Dinner, Bed and Breakfast

5022 Meals - Children, Dinner, Bed and Breakfast

5023 Meals - Infants, Dinner, Bed and Breakfast

5031 Meals - Adults, Full Board

5032 Meals - Children, Full Board

5033 Meals - Infants, Full Board

5105 Cancellation Charges

5110 Card Surcharges

5115 Calls

5118 Linen Charges

5119 End of Stay Clean Charge

5120 Extra Clean

5121 Key Collection Charge

5125 Annual Management Charge

5126 Monthly Management Charge

5130 Rental Income

5135 Commission Income

5140 Extra beds

5145 Cot beds

5150 Owner Booking Charge

Expediture (Profit & Loss)

7050 Owner Rent

7100 Agent Commission

Balance Sheet

9100 Debtors

9105 Security Deposits

9110 Agent Debtors

9200 Bank Account

9201 Cash Account

9203 Merchant Services Account

9400 Discount given

9500 Discount received

9600 Creditors

9700 Agent Commission Liability

9990 Currency rounding errors

9999 Missing/Unknown Account

When "Accommodation Types" are created they are assigned a Nominal Account starting from 1000. You can assign all accommodation income to account 1000 or to as many accounts as you want. This Nominal Account can be changed/created when adding "Accommodation Types" to different " Properties" so that as much or as little analysis can be performed using the Nominal Ledger.

Double entry

All postings to the Nominal Ledger are "double entry" irrespective of the Ledger used to create the postings.

Example A

An invoice with a total value of 117.50 GBP including British VAT. This will generate Nominal Ledger postings of:-

Credit Income account - 1000 100 GBP (You choose the Income account)

Credit VAT account - 8011 17.50 GBP (Automatically selected)

Debit Debtor control account - 9100 117.50 GBP (Automatic)

Example B

A payment by cheque of 117.50 GBP. This will generate Nominal Ledger postings of:-

Debit Bank account - 9200 117.50 GBP (The bank account determines the Nominal account)

Credit Debtor control account - 9100 117.50 GBP (Automatic)

Sales Tax

8111 New York Sales Tax: State - Extras

8113 New York Sales Tax: City - Extras

8121 New York Sales Tax: State - Card Surcharge

8122 New York Sales Tax: County - Card Surcharge

8123 New York Sales Tax: City - Card Surcharge

8161 New York Sales Tax: State - Accommodation

8162 New York Sales Tax: County - Accommodation

8163 New York Sales Tax: City - Accommodation

8171 New York Sales Tax: Daily

8181 New York Sales Tax: Room

Extras and Card Surcharge are used for 2 of the 5 available defineable tax codes (1 -> 5). Accommodation is always 6.

Daily (7) and Room (8) are Taxes specific to New York. A tax rate is applied daily per booking and another rate is applied based on the number of rooms in the accommodation occupied.

Daily Sales Tax is also applied in Slovakia but only to International Guests.

In London (VAT) accounts are created as follows.

8011 VAT: Extras

8012 VAT: Card Surcharge

8061 VAT: Accommodation

This product supports all internationally recognised Sales Tax types.

Up to nine different Sales Taxes can be defined for a Company using "Your details". Each generates Nominal Accounts in the 8000 series. The first 81xx, the second 82xx and so on.

Chart of Accounts

IIf you are using the full accounting module then you can define your own Chart of Accounts layout. Use the