Nominal Module Controls

Modified on Mon, 29 Jan 2024 at 12:09 PM

TABLE OF CONTENTS


Introduction

Facility:  GL_M_000

Menu Path:  Nominal and Banking → Setup → Module Controls


Every Nominal Account can be linked to 12 Reporting Elements (also referred to as Elements). 

Each Element is used to Group data into Financial Reports. 


Note:  Elements are automatically created once they are updated on the Nominal Account.  Thus there is not need to create a pre-set list before linking an account to an element.


Profit and Loss Elements

Elements 1 to 6 are for the Statement of Income and Expenditure (Profit and Loss). Element 6 is used for Departmental Reporting.


 

Balance Sheet Elements

Elements 7 to 12 are used for Summary of Financial Position (Balance Sheet). 

        



Financial Periods

This tab is only used if the financial year of the company is not from January to December (i.e. not a calendar year).

In cases where financial periods are not the same as calendar months, then one needs to set up the Period and the corresponding calendar month in this section.


For example a financial year that starts on 1st October and ends on 30th September would need to be set up as follows:



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