To quickly change the category code and consolidation code assigned to a nominal account use the Amend Report and Consolidation Settings routine.
The category code is used to group together accounts under a generic title and indicate if they are to be included in the Balance Sheet or Profit and Loss reports.
The consolidated account is used to link a subsidiary Nominal Ledger to a group Nominal Ledger. When you consolidate to the group ledger, the system posts the consolidated balances to the group nominal accounts based on the consolidation accounts specified in the subsidiary ledger.
The Amend Report and Consolidation Settings routine displays all nominal accounts and their respective category codes. If the system is set up for consolidationThe process of combining the Nominal Ledger information for a set of different companies, where one is the main company and the other(s) subsidiaries., it also displays the associated consolidation account codes. The displayed list can be filtered to show accounts by account code, name or cost centre. You can then quickly determine the relationship of nominal accounts in relation to category code and consolidation code usage.
If you need to change either of these settings for a range of accounts for whatever reason (e.g. to make adjustments for final accounts production), this routine is ideal when you want to amend the codes for several accounts at the same time.
Open: Nominal Ledger >Utilities > Ledger Set Up > Amend Report and Consolidation Settings.