Whilst strictly speaking a ‘Nominal Ledger’ process and thus outside the scope of this manual, the nominal ledger update process is included in the period end menu to simplify the procedure. Selecting the option usually takes you directly into the update process, but, depending on configuration, you may be asked to select the appropriate ledger update from the menu.
The nominal update procedure processes all the ledger transactions added since the last run up to the end of the file, and posts them into the nominal ledger as at the current sales/purchase period. If updating forward transactions, then these are updated as at the appropriate forward period. Depending on configuration you may be asked to confirm these details, but usually the operator is only asked to commence the nominal update.
Transactions Processed
The starting transaction record number is based on the records processed last time. This is usually one higher than the ‘to’ record processed last time but, if entering forward transactions and not updating them to the nominal ledger until the appropriate period, the record range could overlap. Each transaction that is updated to the nominal is flagged accordingly, so even when record ranges do overlap you will not be updating the same transaction twice.
After confirming you have a backup you are asked to select the printer to output the update report to before the nominal update procedure is processed. At the end of the process a report is created showing the nominal journal created.
Article ID: 1329
Created On: Mon, Jul 2, 2012 at 11:40 AM
Last Updated On: Mon, Jun 19, 2023 at 3:49 PM
Online URL: https://kb.datafile.co.uk/article/update-nominal-ledger-1329.html