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Charity Nominal Help

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CHump
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Sage Version: v2010 16 UK/Europe/Africa

Charity Nominal Help

Post by CHump » 22 Oct 2021, 08:59

Morning,
I'm using SAGE 50 to keep track on a local charity. I just need to know which nominal code should be used to track social events etc?
TIA

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brucedenney
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Re: Charity Nominal Help

Post by brucedenney » 22 Oct 2021, 10:11

What nominal code depends on how you have set up your nominal ledger.

Assuming you have adopted one of the standard layouts then sales would start with the number 4 and costs of sales would start with the number 5

You almost certainly will not have a suitable account in the standard set, most companies do not run social events.

Typically you would use 2 nominal codes, one for the income from the event and one for the expenditure in running the event, you can then gauge the viability of the events by taking expenses from income to get profit for the events in isolation of other activities.

You could set up individual pairs of accounts for each event or you could put them all in one pair or a mix of the two, perhaps larger events having their own accounts and smaller events bundled together.

Convention for this is to use the same number only with the first digit changed e.g.

Code: Select all

4000 - General Sales
4005 - Summer Fete
4010 - Coffee mornings
5000 - General Expenses
5005 - Summer Fete
5010 - Coffee mornings
Note I have left gaps in the numbers this can prove useful eg if things change and we have a winter fete and afternoon teas we can still group things logically

Code: Select all

4000 - General Sales
4005 - Summer Fete
4007 - Winter Fair
4010 - Coffee mornings
4012 - Afternoon Teas
5000 - General Expenses
5005 - Summer Fete
5007 - Winter Fair
5010 - Coffee mornings
5012 - Afternoon Teas
Now in my chart of accounts I can group things

Code: Select all

General Sales    4000 4000
Fetes & Fairs    4005 4009
Coffee & Teas    4010 4015


General Costs    5000 5000
Fetes & Fairs    5005 5009
Coffee & Teas    5010 5015
It all comes down to what analysis you will need to do later.

I hope this helps
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CHump
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Re: Charity Nominal Help

Post by CHump » 28 Oct 2021, 13:57

Thank you, this info is very useful.

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