How to add a nominal account to Barrcloud and how to use the Chart of Accounts
To add a Nominal Account, click on the Cog Icon at the top of the page
Select the Chart of Accounts option
On the resulting screen click on the Add button
Type in a description of the Nominal Account and make sure that the correct category is selected
Type in the code that needs to be attributed
Select the default VAT Rate for the Nominal Account
Nominal Accounts are used as an accounting practice to keep track of income and expenses of a business
When adding Nominal Accounts a previous trial balance can be used for reference