Running Your Monthly and Yearly Routines
In This Chapter
Running month-end tasks
Counting on the cash-flow facility
Carrying out year-end routines
The nominal ledger lists all the nominal codes that your company uses. These nominal codes, when grouped together, form the record of your company’s assets, liabilities, income and expenditure. The codes are grouped together in categories identified in your Chart of Accounts, which I talk about in Chapter 2.
Sage uses the accounting principle of accrual accounting. Accrual accounting isn’t just about accruals (bizarre as that may sound!); rather, it’s about recording sales and purchases when they occur, not when cash changes hands – you match revenue ...