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How to change Sage Bank Nominal Code

Hi

I have recently taken over my role from a bopok keeper employed ona sub contracted basis. 

We use Sage 50 for our accounts but prior to me starting the rolw the company did not have a company bank account so my predecessor has set up NC 1200 as my MD's personal account which he was using for business transactions.

The business account has now been set up but she has set this up as NC 1251.  This is causing lots of problems as 1200 is the default for many transactions and I am forever posting them then having to journal them out again.

I have now journaled all the transactions from the personal bank account to Directors renumeration so the balance is zero and now I want to change the NC for the business account from 1251 to 1200.

Can anyone advise how I can do this?

Thanks

Lisa

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By occca
03rd May 2012 14:54

Just change the name

Can't you just change the name on it?

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I'm pretty sure you can also change the defaults to 1251 rather than 1200 - this may solve part of your problem.

Personally if the records start off using 1200 as a non business account and 1251 as the business account i would keep it that way so there is a history, audit trail etc.

Not sure about the journal entry to directors remuneration either, but would need more info to comment further.

Hope this helps

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By JKnight
03rd May 2012 20:05

To change the default bank account go to Settings menu, Control Accounts and change the default bank to 1251 (or back to 1200 if you want).

Also, Sage usually lists the the bank accounts in the Bank module in ascending nominal code order, but you can reverse the order so that 1251 appears at the top of the list (assuming there are no higher bank nominal codes).

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03rd May 2012 21:17

Thanks folks have just set the default code to 1251 seems the easiest way to do things.

Craigie_bhoy I journal led it to the directors acct as it shouldnt have really been put in as a bank acct, it couldn't be reconciled from statements as any transactions were mixed in with all sorts of personal 1s. I thought it was easier to treat this as monies he had put into or taken out of the business so moved it all over, hope it makes more sense.

Lisa

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yep, that makes sense..........

treating these as directors loan account items in the balance sheet would seem to be the correct thing to do.

I just got confused as the initial post said Directors remuneration.

I'm with you though and sounds good :)

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20th Jun 2013 12:19

Nominal Code Changing...

I know this was posted quite a while ago but recently we have launched a product that enables you to change nominal codes.  Have a look at our website as it may help if you have any similar problems in the future.

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