Forum

• # 104206
• Sat 07 Feb 2015 10:18 PM

Hi 

I'm doing computerised level2 old syllabus at the min and i'm stuck with nominal codes if some could point me in the right direction please.

I get that u would put a motor vehicle opening bal on code 0050
the depreciation (BS) 0051
and 8003 (P & L)

the one i am stuck with is Freehold property i have used 0010 for the property cost
is it ok to use 0011 for the BS dep, this is down on sage as leasehold and not in use, so can i change this for the deprecation will it work out ok?
and  should i use 8000 that just says depreciation or create one with number 8005?

thanks in advance i shall go back to searching google like i have been all day till i get an answer lol

nicky  

• 
  Quote
  

• # 104207
• Sat 07 Feb 2015 11:32 PM

Hi Nicky,

You can change the name of code 0011 but remember to change it in the Chart of Accounts as well.

You can also setup code 8005 and again remember to update COA. It is better to have a separate nominal code for each type of asset depreciation e.g. one for motor vehicles, one for office equipment etc etc

Marilyn

• A clever person solves a problem.

  A wise person avoids it.

  Albert Enstein

• 
  Quote
  

• # 104208
• Sun 08 Feb 2015 07:06 AM

Thank you very much Marilyn, you've been a great help i can crack on now 


nicky

• 
  Quote