Nominal Ledger Chart of Accounts

The Nominal Ledger Chart of Accounts

Sage Line 50 automatically provides you with a simple chart of accounts, which is used by the following reports;

$image\bullet.gif$ Balance Sheet,

$image\bullet.gif$ Budget and

$image\bullet.gif$ Prior Year.

The chart of accounts is also used when you run your year end. The Year End option looks to the chart of accounts to see which accounts make up the profit and loss report. These are cleared down during the year end procedure.

The default account names in Sage Line 50 are not always suitable for your business needs. Sage Line 50 enables you to tailor the chart of accounts to suit your business. By editing the chart of accounts, you can add in new categories or make present categories more suitable to your line of business. For example, you can change the sales category from product and export sales to the actual items your company sells.

Use the COA option from the nominal ledger window if you want to amend the layout of your financial reports. You can edit the default chart of accounts or you can add your own chart of accounts layout if you want.

Note: If you ran the ActiveSetup Wizard and you chose to create your own nominal account structure, the default chart of accounts only contains the category headings for your financial reports.

You can create up to 65,000 separate Chart of Account layouts, but remember to give each one a meaningful name, so you can easily identify the one you require.