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nominal codes

Sage 50 general help forum - Free help and support for all general issues
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patrisha
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Posts: 4
Joined: 14 Oct 2010, 14:16
Sage Version: v2007 13 UK/Europe/Africa

nominal codes

Post by patrisha » 14 Oct 2010, 14:41

Hi there Ive just come on to this forum today and I am putting new nominal codes brought across from another software have been told 2 different n/c for drawings 2103 and 3100 which is correct please Thanks Patrisha.
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happiness
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Posts: 18
Joined: 15 Oct 2010, 16:55
Sage Version: v2009 15 UK/Europe/Africa

Re: nominal codes

Post by happiness » 17 Oct 2010, 19:44

Hi Patricia,

It depends on where you want to show it in your chart of accounts. By default, nominal 3100 is setup for drawings. This will show on your Balance Sheet in the Capital & Reserves section. 2103 would appear in the Current Liabilities under Creditors: Short Term.

Personally, I'd go for 3100 but check with your accountant.

Hope this helps.
[Happiness]
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patrisha
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Joined: 14 Oct 2010, 14:16
Sage Version: v2007 13 UK/Europe/Africa

Re: nominal codes

Post by patrisha » 18 Oct 2010, 17:22

thank uou i will use 3100 for drawings
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