Drive has its own internal accounting ledgers for the practice financials. This includes a Nominal Ledger module.
To access this, you can click on Nominal Ledger on the left navigation toolbar where there are options to do Journals, Recurring Accruals, Prepayments, and Entries and you can access Nominal Trial Balance or Nominal Accounts to see these entries.
Note: Nominal Ledger Option is only available to the Full Drive Package and you will not see the section in Drive Lite.
Nominal Accounts
Nominal Accounts shows the list of all Nominal Analysis codes for P&L and B/S.
For easier visibility, the nominal account headers are in bold. You can click on the folders to expand the relevant codes and double-click into these for more detail.
It shows the debit and credit for Current and Comparative years, but you can also check pre-comparative and previous year’s Nominal Balance from the Budget & Comparative options along the top.
There are also options for Ledgers, Balances, and a Nominal Balance Import.
Nominal Reports
The Nominal reports are available in Reports > Nominal Reports.
Double-click on any other nominal report. The relevant window will now be displayed.
Select the details you wish to view on your Report. Once you are happy, select the Preview button to produce the Report. It will display with the information selected.
Nominal Control/Default Codes
Nominal Default Codes are set by default in the system, but you can alter some of the codes by going into Tools > Settings as below.
Click into Control/Default Codes under Nominal and select the section you wish to change the default code for. use the dropdown to change the code and select OK.
Note: Most of the codes can only be changed at the start of Drive and may affect the entries entered in the past.