Overview:

To set up a nominal account in Zumzum Financials, navigate to the Setup tab and click the Nominal Account button. Select New to create a new account and enter a name in the Nominal Account Name field. Choose the relevant Nominal Sub-Category to link the account records. Assign a unique Account Code for identification and specify the default Tax Rate, either by entering it directly or using the lookup field. Indicate the usage of the account by ticking the appropriate boxes: SO for Sales Orders, PO for Purchase Orders, and Expense for expenses. Finally, click Save to apply and save the new nominal account details.

Create Nominal Account from Nominal Account Tab

Go to the Setup(Zumzum) tab

1. Click the Nominal Account button.
2. Select New.
3. Enter a name for the nominal account in the Nominal Account Name field.
4.  Which Nominal Sub-Category the Nominal Account records will be linked to.
5. Enter a unique Account Code, which is used to identify the Nominal Account.
6. Enter the default Tax Rate for this Nominal Account or use the lookup field to find the correct one.
   • Tick the SO box if this Nominal Account is used for Sales Orders.
   • Tick the PO box if this Nominal Account is used for Purchase Orders.
   • Tick the Expense box if this Nominal Account is used for Expenses.
7. Finally, click Save to ensure the changes are saved.

Learn more about charts of accounts in Zumzum Financials.