NOMINAL LEDGER CHART OF ACCOUNTS SETUP

· Run programme 1 1 1

TAS Books nominal accounts range from 1000 to 9999.

Fig 5

· Number: We enter the nominal account number assigned to the account.

Input 1610. Press TAB.

· Group: Press F2 from the keyboard and select “CurAsset” for Current Asset Account. Press TAB.

This selection depends on the class of account COS – Cost of Sales; Expense – Expense Accounts; Income Accounts; Liability Accounts and Owners Equity for Share Capital Account.

· Description: In this field type “Stock” (without the apostrophes) Press TAB.

· Type: Type “A” for Asset Account. Press TAB.

Depending on the class of account you may type “E” for Expense; “L” for Liability; “I” for Income; “O” for Owners Equity.

· Debit/Credit: Select “Debit”. Select SAVE.

Note all asset and expense accounts have Debit balances and all liability, income and capital accounts have credit balances.

Great you have successfully created and saved your first nominal account. More time later to create several more nominal accounts for Global Tyres and Battery Ltd.

Press ESC to return to the Main Menu.