When a user is viewing the Profit and Loss or Balance Sheet reports, the values are grouped by a main heading and summarised by a text label. How do I know the nominal accounts that make up the text label on the reports?
Zumzum Financials has a Chart Of Accounts (COA) which uses a three tier structure
- Nominal Categories
- Nominal Sub Category
- Nominal Accounts
The Profit and Loss report and Balance Sheet reports use the Nominal Categories as the main headings for the report. Below each heading or Nominal Category are the Nominal Sub Categories. The value of the Nominal Sub Categories is calculated from all the Nominal Accounts.
Since every organisation may customise the Nominal Sub Categories names to suit their own needs, you would need to find your list of Sub Categories.
To find your list of Nominal Sub Categories follow these steps:
- Find the Nominal Sub Category tab
- Select the list view All
- Sort the list descending by Nominal Categories
Use this list view to see the relationship between the Nominal Sub Category and any of the Nominal Categories.
Each Nominal Sub Category contains multiple Nominal Accounts, so click on the name of the Sub Category to view the related list of Nominal Accounts.
The Nominal Accounts related to this Sub Category that had ledger transactions during the period for your Profit and Loss report or Balance Sheet report are used to calculate the values on your report.