Create nominal accounts for a new cost centre or department

Find this screen

Open: Nominal Ledger > Utilities > Ledger Set Up > Create Accounts for Cost Centre and Department

How to

Create nominal accounts for a new cost centre

Open: Nominal Ledger > Utilities > Ledger Set Up > Create Accounts for Cost Centre and Department

1. Choose to create a new Cost Centre from Generate for.

2. Enter a Code and Name for the new cost centre.

3. Choose the existing cost centre that you want to duplicate as the Source.

   The new cost centre is created for existing nominal accounts that have this Source cost centre.

   If you leave Source blank, the new cost centre is created for existing nominal accounts that have no cost centre code.

4. To create the new cost centre and associated nominal accounts, select OK.

   Note: This may take some time depending on the number of nominal accounts being created.

Create nominal accounts for a new department

Open: Nominal Ledger > Utilities > Ledger Set Up > Create Accounts for Cost Centre and Department

1. Choose to create a new Department from Generate for.

2. Enter a Code and Name for the new department.

3. Choose the existing department that you want to duplicate as the Source.

   The new department is created for existing nominal accounts that have this Source department.

   If you leave Source blank, the new department is created for existing nominal accounts that have no department code.

4. To create the new department and associated nominal accounts, select OK.

   Note: This may take some time depending on the number of nominal accounts being created.

Create nominal accounts for a new cost centre and department

Open: Nominal Ledger > Utilities > Ledger Set Up > Create Accounts for Cost Centre and Department

1. Choose to create a new Cost Centre and Department from Generate for.

2. Enter a Code and Name for the new cost centre and department.

3. Choose the existing cost centre and department that you want to duplicate as the Source.

   The new cost centre and department is created for existing nominal accounts that have this Source cost centre and department.

   If you leave Source blank, the new cost centre and department is created for existing nominal accounts that have no cost centre or department code.

4. To create the new cost centre and department and associated nominal accounts, select OK.

   Note: This may take some time depending on the number of nominal accounts being created.

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Useful info

About creating accounts for a new cost centre or department

Use Create Accounts for Cost Centre and Department to quickly create a new cost centre or department and apply it to a range of existing nominal accounts at the same time. The new cost centre and department is created for existing nominal accounts that match the cost centre or department that you select. The new nominal accounts with their new cost centre or department combinations will have the same account and budget settings as the original nominal accounts.

Using this can be particularly useful when setting up nominal accounts for consolidation.

Example

For example, you have a cost centre LON for your London location that you use with a range of nominal accounts. Now you want to add a new Manchester location with cost centre MAN to the same range of nominal accounts used for your LON cost centre. You can use Create Accounts for Cost Centre and Department to create the new Manchester cost centre, and apply this to new nominal accounts copied from all existing accounts with the LON cost centre.

So if you used Create Accounts for Cost Centre and Department with the options:

• Generate for: Cost Centre

• Code: MAN

• Name: Manchester

• Source: LON

This would create a new cost centre MAN and apply it to all nominal accounts that already have the LON cost centre:

• For the existing account 01100 LON ADM, a new account is created for 01100 MAN ADM.

• For the existing account 01500 LON SAL, a new account is created for 01500 LON SAL.

Outcomes

• The new cost centre or department is added to the list of cost centres or departments.

• The new nominal accounts are created with your cost centre or department combinations.

  • The new nominal accounts will copy some properties from the original source accounts, such as the account settings and budget details.

  • The new nominal accounts will not copy other properties from the original source accounts, such as account balances, memos and attachments.