Nominals

System nominals

ALB has a number of system nominals that are required for the Accounts system to function. In normal circumstances, these system nominals will already have been set up for your firm and should not be edited. These include the following, which should not be changed:

• Accruals
• Bills Write Off (used for legal aid)
• Client Opening Balance Equity
• Counsel Ledger Control
• Income from Costs
• Interest Nominal
• Office Opening Balance Equity
• Other System Nominal
• Utilities Manual
• Petty Cash
• Pre Payments
• Profit Share
• Purchase Ledger Control
• Realised Loss/ Gain
• Unpaid disbursement
• Unpaid Costs
• Unpaid VAT
• VAT Control

Non-system nominals

Non-system nominals may have any alphanumeric reference (up to a maximum 20 characters) and any free type description. To determine whether a nominal appears as part of the profit and loss or balance sheet, each nominal must have a type.

Nominals are grouped on reports by their nominal type. They can then be further sub-grouped by allocating each nominal its own profit and loss or balance sheet sub-heading. Each nominal must be assigned to at least one branch and each branch must have its own default bank account for use in postings.

Nominal year end reset

In ALB, profit and loss nominals have the Year End Reset option selected and reset to 0 prior to any postings for a new financial year. However, balance sheet nominals do not have Year End Reset selected and any postings for a new financial year debit/credit the opening balance brought forward from the previous year end. This cannot be changed. Adjustments to nominal start balances following a year end procedure should be carried out using the Nominal to Nominal Transfer posting and the Profit Share Nominal.

Nominal security

Any nominal that has the Nominal Security option selected cannot be viewed or posted to by any user who does not have the security option Access secure nominals in their System User Security Features. See Licensing and Users.