This article explains how to create a Nominal Ledger in Insight Legal.
On this page
Creating a New Nominal Ledger
- Go to 'Accounts'
- Select 'Nominal Ledger'
- Click 'Add'
- Enter Reference
- Select Branch
- Enter Description
- Select Nominal Range
- Select Department if applicable
| The Nominal Range selected will determine how the ledger is affected when the Year End is run. If a Profit & Loss Range is chosen, the ledger will clear down at year end; if a Balance Sheet or Capital Accounts Range is selected, the ledger balance will be carried forward. |
- Select Default Bank
- Select Year
- Tick the' VAT Liable' Box if any entries made on the Nominal Ledger will have a VAT element
- Click 'Save'
Adding a Budget to a Nominal Ledger
- Go to 'Accounts'
- Select 'Nominal Ledger'
- Look up the Nominal Ledger using the 'Nominal Lookup'
- Select 'Budget Tab'
- Click 'Add'
- Enter the monthly budget amount manually in each period
- Click 'Save' when all details have been entered
| Once budget figures have been added to Nominal Ledgers, they will be available on Nominal reports. |