Nominal Ledger
How do I process a Nominal Reconciliation?
Procedure for Reconciling a Nominal Account (Current Year > Nominal > Nominal Reconciliation) Account Field: Select the relevant Nominal Account from the drop-down menu that you wish to reconcile. Details Field: Enter any necessary free text in the ...
What are Standard Entries?
Standard Entries Overview Standard Entries are nominal journal templates designed for recurring debit, credit, or combined transactions. You can access them via: Current/Previous Year Menu Nominal Posting Standard Entries Creating a New Standard ...
How to Reverse a Nominal Reconciliation in SFM
Reversing a Nominal Reconciliation in SFM Click on the Archive Select Nominal > Nominal Reconciliation from the drop-down menu. Select the Nominal reconciliation you wish to reverse. Press the Reverse button or (CTRL+R). Click Yes on the Confirm ...
Setting Up and Using the Intercompany Journal
Setting up Inter-company Accounts makes it easy to automatically update journal entries in multiple companies, helping you increase your efficiency. Step 1: Creating an Intercompany Account Log in on one of the companies required for the multiple ...
How to Upload Your Own Chart of Accounts in SFM
The SFM Chart of Accounts can be managed and updated using Excel functionality. To ensure a smooth upload, please use the provided SFM Format. Standard Chart of Accounts.zip: The zip file includes a blank template, documentation, and a simplified ...
How to print a Management Profit and Loss Report
To create a Management Profit and Loss report in SFM: Go to Current Year or Previous Year > Nominal > Chart of Accounts Reports > Management Reports, and click on the report type required. Once you have chosen your report type, a printer window will ...
How to print a Trial Balance Report in SFM
To create a Trial Balance report in SFM: Go to Current Year or Previous Year > Nominal > Chart of Accounts Reports > Trial Balance Reports, and click on the report type required. Once you have chosen your desired report type, a printer window will ...
How to Reverse a Transaction from the Audit Trail in SFM
Go to Current year > Sales > Audit Trail. Select the transaction and press on Reverse Entry.
Setting up a Set Off Account in SFM
Follow the below article: How to create a new Control Account in SFM? (Bank Account, Cash Account, Stock Control, etc)
How to create a new Analysis Code in the Jobs Module
In order to create a new Analysis Code in the Jobs Module, follow these steps: Create Nominal Code Current Year > Nominal > Chart of Accounts > Press the Sign button Create Analysis Code Support > Jobs > Analysis & Press the Sign button Link ...
How to set Percentage Allocation in SFM
The Percentage Allocation functionality in SFM allows you to split an entry into two or more different Nominal accounts automatically allocating this by percentage which is setup by the user. Setting Up Percentage Allocation Create a Nominal ...
How do I print nominal transactions across different financial years?
As from SFM Version 2.0.8.56, a user can print nominal transactions across different financial years. The report to achieve this is called Transactions for All Accounts. and it is found in Current Year > Nominal > Chart of Accounts Reports > ...
How do I reverse an entry after posting it?
Once users confirm an entry into SFM, they cannot modify any elements of the data. The only option available is to reverse the full transaction(s) and re post the entry with the right values. The system provides for the reversal of entries as ...
Can I set nominal account budgets in SFM?
Nominal account budgets can be imported in SFM through a template (attached). The budget amounts are entered per period/ per nominal account. Below are some points to note when entering the budgets in the template: 1. The budget amount has to always ...
How to create a new Control Account in SFM? (Bank Account, Cash Account, Stock Control, etc)
Create the Account in your Chart of Accounts as seen below. Please make sure you use the code depending on your Heading and Sub-Heading digits. After creating the account, you need to specify the account as a System Control Account. Go to Support > ...
How to check which year is your current year in SFM
To check which year the client is currently in: Go to Current Year > Utilities > Posting dates. Check year.