Introduction to the Nominal Ledger and Associa - Flipbook - Page 83
Nominal
Balance Sheet Accounts
Introduction
The following is a basic guide, explaining the higher profile accounts, how they are used and what the balance
represents. The Nominal Expense Codes are for a standard chart of accounts for the Autoline system, however
every system will have an equivalent account or in some cases there may well be a number of accounts in use for
the code quoted.
9017 Asset Purchase Suspense
Zero Account – The account should be debited by the Purchase Ledger from the purchase of the asset and
credited by the Fixed Asset Module when the asset has been added to the register and the daybooks have been
printed.
9018 Asset Sale Suspense
Zero Account – The account is debited by the Fixed Asset Register when the asset is sold and credited by the
Sales Ledger for the proceeds of the sale.
9021 Consigned Stock
This represents the value of all vehicles at 8C9 status on the VSB system and should be agreed monthly to the
manufacturer9s statement. A Transaction by Suffix report will identify the stock numbers making up the Nominal
Ledger balance. This should be agreed to the Consigned Stock report from the VSB system.
9020 Fully Paid Stock
This represents the value of all the vehicles at 8A9 status on the VSB system. A Transaction by Suffix report will
identify the stock numbers making up the Nominal Ledger balance. This should be agreed to the Fully Paid Stock
report from the VSB system.
9032 New Vehicle Other Stock
This represents the balance of Miscellaneous Stock on vehicles. Debit balances are for work done to a vehicle
which is still in stock, i.e. status less than 8I9. A Transaction by Suffix report will identify the stock numbers making
up the Nominal Ledger balance.
Nominal Balance Sheet Accounts
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